Did you notice top exchanges reduced the withdrawal fee?

[seoincorporation]

This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

I didn't notice but is good news. It would be nice to see on-chain exchanges like shapeshift do the same because their fees are high as hell.

I think they reduce their fees because the transaction fees amount goes back to normal (low fees), just remember how a couple of years ago the fees get fucked up and people end paying close to 0.001btc for each transaction. Those were hard times.

[Golftech]

It was really a great decision from the top tier exchanges, because of withdrawal fee was very high, even I stopped withdrawing for every day as it took 7-8$ fee every time. But now they reduced it by 50%, so traders like me who doesn't feel exchange safe enough for storing coins, they will gladly withdraw after every profit!

Exactly, this decision has too many benefits for both users and exchanges, and first, we should talk about our benefits, we will feel more comfortable when we do not need to store on the exchange, no need to calculate too much for each withdrawal when the cost is low, and a small amount of money saved from this expense can sometimes create more opportunities for us. Ending our interests and looking at the benefits of exchanges, this decision will increase their trust in the community, this strategy is very attractive to many investors

Traders will see that benefits and the exchange will surely benefits from this action. There's no need to store your assets inside the exchange as you can easily send it to your own wallets because of this action from the exchange lowering the fees. Coming from the side of exchange it's also a quick profits especially if most of their participants will withdraw from time to time, the bulk numbers of transactions will give them an easy to bank money.

[luckyflop]

This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

I didn't notice but is good news. It would be nice to see on-chain exchanges like shapeshift do the same because their fees are high as hell.

I think they reduce their fees because the transaction fees amount goes back to normal (low fees), just remember how a couple of years ago the fees get fucked up and people end paying close to 0.001btc for each transaction. Those were hard times.

Agree with you, in 2017 I saw most exchanges use this fee. And it makes it very difficult for many people to withdraw BTC to their wallets, until now those exchanges have reduced the withdrawal fees and I hope in the future it will be free if possible.

[jostorres]

I usually use ETH to withdraw money because this is cheap and suitable for everyone here. At present, the reduction of fees is something that many people feel is necessary because if any exchange is cheap, there will be more investors participating. Personally, I am using Huobi and Binance because these two exchanges are very good and there are a lot of money making tools for traders.

Binance is one of the top exchange until now. Also ETH transactions are easier because ETH gets confirmed much quickly as compared to bitcoins. Whenever I want to perform a urgent trade I always prefer to deposit funds via ETH or XRP and I never go for bitcoins because it really takes a long sometime to confirm the transaction. This is never something which we traders would need because we need instant transactions just not to miss the perfect price.

Minimum withdrawal fees would always be an important aspect to consider because it is what makes us lose some amount of funds and we do need to calculate the profits excluding the withdrawal fees. It would never be profitable to make smaller amount withdrawals from any such platforms.

[el kaka22]

There was a calculation about how people on binance make more money compared to everyone else who were doing trading in other exchanges. The idea was the fact that you could have done the exact same thing on some other platform but when you use BNB to spend your trading fee, you will be making more. So, even when there is a bigger withdrawal fee on binance compared to other places, you are basically making up for it by cutting down the trading fee if you are a constant trader.

If you are just looking to invest and that's it, it is still easier to find places that are cheaper to deposit/buy/withdraw and be done with it, but with the withdrawal fee now even lower at binance, there is even less reason to look for other places since they are also quite cheap as well.

[carlisle1]

This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

if does then that is really a good news ,maybe they found out that the competition now from other exchange is that tight so they need to adjust to remain competitive specially these days that Bitcoin halving is coming and the investors are coming from here and there?
anyway what is important the benefits we all get from this actions,specially these Big exchange that usually gaining more and more trust as time goes by.

[Zicadis]

This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

Too bad it's not the case for Bitcoin.

Most Bitcoin exchanges are currently charging around a 0.0005 BTC fee, or around $5+.

I think a lot of exchanges are beginning to batch ETH transactions together, similar to how exchanges began batching BTC transactions back in 2017.

A quick Google of the matter hasn't turned up any results, whereas the average network fee hasn't changed, so it must just be a batching thing.

[shoreno]

This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

if does then that is really a good news ,maybe they found out that the competition now from other exchange is that tight so they need to adjust to remain competitive specially these days that Bitcoin halving is coming and the investors are coming from here and there?
anyway what is important the benefits we all get from this actions,specially these Big exchange that usually gaining more and more trust as time goes by.

yeah . they could be loosing now so they reduced their fees to attract costumers to come back  but infact the fees should climb up due to the current value of cryptos which are rising too  . 0.01 eth original fee was already high tho , so its fine that they reduced to 0.005 eth  .

 0.005 eth current rate now is like close to 1 usd if im not mistaken  , 1 usd is more okay to me because other platforms have a closer fees than this but atleast the transaction moves faster  .

[nutriagrigia]

this is great news. I was always very annoyed that I have to pay money for simply withdrawing my money from the exchange. the exchange must earn on commissions. I believe that the withdrawal commission should be removed at all, but the reducing is already good

[FanEagle]

This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

I prefer converting my coins to coins with lowest fees like XRP, etc in order to withdraw from the exchange because usually BTC and ETH have higher fees. The bitcoin halving process is about to minimize the fees for bitcoins which would also minimize the fees for some other coins too. That would be something which we need because we really have to pay a lot hectic fees if we only need to withdraw bitcoins or ether.

I can notice few exchanges have lowered their withdrawal fees but yet there are few exchanges which have kept a fixed withdrawal rate and they do not change it no matter what the situations are. Huge amounts would not care for the withdrawal fees but for smaller amounts, fees could also eat up our profits.

[Mahanton]

This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

Its just right for them to make adjustments on withdrawal fee yet price of btc and alts had increased significantly which means it wont really
be that right if they would still make it the same yet it would be a burden for all of their users of the platform yet the amount would really be big.
There would be lots of criticism if thats the case.Take a look for example like what happened on shitBTC (Hitbtc) or even with Yobit where their
withdrawals becomes permanent no matter what the condition of the market which do really sucks.

[pikkie]

this is great news. I was always very annoyed that I have to pay money for simply withdrawing my money from the exchange. the exchange must earn on commissions. I believe that the withdrawal commission should be removed at all, but the reducing is already good

when shipping costs and trading costs are removed it will make the exchange place die because they will provide coins and provide security with very high facilities, so even if you have trading fees and shipping costs then leave it alone because it is for the development of the exchange and fees it cannot be erased at all exchange sites.

[tiptopgemdotcom]

this is great news. I was always very annoyed that I have to pay money for simply withdrawing my money from the exchange. the exchange must earn on commissions. I believe that the withdrawal commission should be removed at all, but the reducing is already good

Exchanges usually look for ways to increase the trading fee for making more money, there is no logic to increase the withdrawal fee which will not attract the day traders. I prefer to withdraw the small altcoin rather than BTC due to the high fees(around ~0.0005 BTC).

[irixo10]

This is great news for every crypto trader that all the top exchanges like Binance, Okex, Kucoin, Huobi reduced the withdrawal fee by 50%! At this moment the Ethereum withdrawal fee is 0.005 ETH, which was 0.01 ETH in all these exchanges!

This is a good news really at least users won't be wasting funds on fees, although I think it is in correlation to the price increase of ETH, whichever it is a good news. While these exchanges are taking neccessary steps and actions to ensure they remain on top others are still charging the usual withdrawal fee and don't care about it. This goes to show that there are exchanges who care for their users and others who doesn't. Lastly, the competition among these exchanges is a good one at least each will look for ways to offer better services which in turn benefits all and sundry.

[swivel1983@gmail.com]

Yes, this is really good news. This will help the exchanges to expand the circle of its clients. Even small traders who trade small amounts will be able to join them.

[Chuky92]

The beauty of this is, it accommodates everyone where small withdrawals won't really feel the impact. That is, imagine with the price increase in Eth and the withdrawal fee isn't reduced, users will find it hard withdrawing and to reduce such they might go for other coins with lesser fee. But however, most exchanges are still yet to adopt it, that is their withdrawal fee is still the same; thus I see it as only a hindrance to growth because instead of users to spend unnecessarily to withdraw from those types of exchanges they would rather go for those who reduced their price.