Did you notice top exchanges reduced the withdrawal fee?

[Tduty]

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!

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[buleidada]

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 for ETH fees like that it is the standard for withdrawals, actually there are many ways to withdraw that are cheaper than ETH such as XLM, TRX, and DOGE three of them I feel that in any market it will still be cheap the cost of withdrawals

[shinratensei_]

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!

It caused by the price of major coins are getting an increase. The exchange site was taking it into the fiat value to determine how much withdrawal fees that will be applied to the users. In this case, based on what already happened and exchange sites don't take or use crypto to calculate how much the withdrawal fees should be.
That's why they must adjust the withdrawal fees based on the fiat rate. It's normal when they are decreasing their withdrawal fees as the price of crypto is almost doubled since last months.

[istiak2277]

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 think it because of the price increase in most of the cryptocurrency. They are just trying to stay with the USD value of the market so that traders will not be afraid to do transactions because of the high fees. Changelly reduces its fees from 0.50% to 0.25%.

[nicster551]

I think this was all started when Binance reduced all its withdrawal fee on major coins then suddenly all of this top exchanges followed what Binance did. But still based on what I knew, Binance is the lowest withdrawal fee among all this exchanges. Its a good thing since they knew that bull run will come thats why they reduced all withdrawal fees.

[livingfree]

Is this sort of marketing or promo? I didn't noticed that because I haven't traded for a while. Does anyone know how long did they already implemented this reduction to the withdrawal fees?

I think it because of the price increase in most of the cryptocurrency. They are just trying to stay with the USD value of the market so that traders will not be afraid to do transactions because of the high fees. Changelly reduces its fees from 0.50% to 0.25%.

I don't know if there's a relation with the price increase of most crypto lately. But if they have been generous and that's one factor, it's a very good news.

[zulfi125]

Due to competition, they should reduce withdrawal fees more and also on BTC withdrawal fees should be reduced because every exchange withdrawal fees are almost above BTC 0.0005, so this is good befits for traders and investors.

[bittraffic]

I noticed the lowering of fees few weeks already in some exchanges. Its best if they can make it that fees will automatically adjust while BTC keeps going up. Binance take 0.005ETH every withdrawal of ETH which is worth $1.12 but 0.005ETH will be worth more soon when ETH price goes $250+.  

If exchange gets about millions of withdrawals a day, they'd be making millions a day as well. That makes team develop exchanges today and not new projects anymore.

[qazgroup]

It is due to the growing competition among exchanges because so many exchanges are coming up every month so its good for traders and investors, second reason could be the increase in Eth price to over 200 and if the bullish momentum continues Eth can break 500 mark in few months that will result in even lower fee.

[Flux0z]

Exchanges is facing major competition, especially with DEX's coming along nicely. While most DEX's is hardly used today, I'm sure a LOT of people will shift, once they realize that you can trade anonymously, with no KYC, no restrictions etc.

Blocknet recently exceeded $100k daily volume due to a huge OTC DIVI/BTC deal between 2 parties, completely trustless deal. I'm sure we'll see these sort of trades happen more often, and slowly see a lot of people using it more and more.

[ansi]

Exchange Business niche is facing some serious shit man, no wonder they make Fees Free months to solve that lol.
The Bear market (last couple months) killed most exchanges.
The exchange niches is becoming the worst niche to invest in unfortunately, it's already saturated, only the big ones you know now will survive & eat the whole market.

[reallester]

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 great news indeed for traders and investors. Binance eth withdrawal is currently 0.003eth. This is way better off than the 0.01 eth withdrawal fee previously being charged. This is incredible I must confess. Both big and small traders and investors will now comfortably transact in these exchanges without the fear of exorbitant transaction fees. Kudos to those exchanges who have just reviewed and reduced their transaction fees.

[cytpoway121]

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 this is true, then thats a beautiful job done by the top exchanges.
But i usually do not worry about the withdrawal fees, i usually convert to xlm or trx, but now that withdraw charges are cheaper, i can then withdraw etherum directly.

This will also increase trading activities (small $) in these exchange platforms that have slashed fees.

[rdewilde]

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!

A healthy competition is really good in every Industry and these exchanges keeps leading the way. I think it was Binance that started it first followed by Okex. There are exchanges still maintaining their withdrawal fee. Also, this reduction in price can be arguably linked to the increase in price of various coins so it looks reasonable to reduce the price. Should there be a downtrend, they might likely increase it again. But my own interest is the fact they are having a healthy competition while putting things in place to accommodate all users thus maintaining their competitive advantages.

[LbtalkL]

I didnt notice that because I usually using xrp when withdrawing because it has lesser fees but that great thanks for informing us, last 2019 did you notice it too some exchanges from omni usdt they switch to erc20 usdt I guess to reduce the fees. The adjustment on withdrawal fees happens when the value of an asset changes.

[lonte77]

But the BTC fee is still expensive, most of exchangers fee for BTC is 50000 Satoshi since the blockchain wallet fee for BTC is only 500 satoshi. I think everyone will choose some cheap altcoins to withdraw their assets, like doge, xrp, trx ,etc. because it has a low fees.

[flagpara]

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 think this exchange decrease the withdrawal fee, because only few months before Ethereum price was half than now. For Ethereum price up 2x, withdrawal fee down to 50 percent. Suppose if Ethereum hits 500 USD price ratio should down but USD always equal to withdraw rate.

[gunungkembar]

I didnt notice that because I usually using xrp when withdrawing because it has lesser fees but that great thanks for informing us, last 2019 did you notice it too some exchanges from omni usdt they switch to erc20 usdt I guess to reduce the fees. The adjustment on withdrawal fees happens when the value of an asset changes.

Your choice is very smart because by using altcoin such as XRP and others, shipping costs are cheaper and transactions are also faster, so it's better to use altcoin instead of using bitcoin, which has very high transaction costs.

[Swordsoffreedom]

 
~snip~
If exchange gets about millions of withdrawals a day, they'd be making millions a day as well. That makes team develop exchanges today and not new projects anymore.

You are right,
Most of the people think that crypto exchanges generate a lot of income from exchange fees. But they actually take more profit from transection fees than exchange fees. Nowadays almost every exchange site takes a fee near around 7 usd flat fee for each transaction, if they pay 2 usd for the actual transaction fees then they earn 5 usd from us as withdrawal fee. I agree that crypto exchange needs a lot of money to let themselves alive but this is really a vast amount of funds they are taking from us.

[kawetsriyanto]

It is good news. However here. actually there are several exchanges that give low transaction fees, especially for the withdrawal fee. There are some exchanges that have only 0.005 eth for a fee from the beginning. In my opinion, one of the reasons why they make the fee lower is that there are many other exchanges that compete with each other, the growing exchange is everywhere.
However, what is the service? Still okay or decreased?