binance withdrawl fees ERC2.0

Quote from: rhomelmabini on December 22, 2020, 05:01:33 AM

I tried to move my CHZ token just the other day and it costs me $5 seems that's constant even the value of the them becomes lesser or higher.

I thought the high withdrawal fee is mostly applied to ETH and BTC only, i just made some withdrawal on Binance this morning via XRP with a quite low fee of about $0.21 which actually was fast too as well.

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I can't argue with that because I've done it before. What I'm saying there's also Dogecoin which's also cheap and fast as XRP.

Anyway, OP should also reply on this thread and give us some updates.

Dogecoin also cheap and fast as XRP. Thank you friend, It is a new knowledge for me.
You know any other coins as XRP and Dogecoin ?

Quote from: MellowThemes on December 23, 2020, 06:26:13 AM

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I can't argue with that because I've done it before. What I'm saying there's also Dogecoin which's also cheap and fast as XRP.

Anyway, OP should also reply on this thread and give us some updates.

Dogecoin also cheap and fast as XRP. Thank you friend, It is a new knowledge for me.
You know any other coins as XRP and Dogecoin ?

I haven't tried this but AFAIK, Nano is also a good one. And IIRC, they're free of charge in transactions. They're not recognized due to it but as an investment. XRP looks in bad shape and I don't think it's a good time to keep making transactions on it.

Here's NANO --> https://coinmarketcap.com/currencies/nano/

As long as it is going towards erc20 tokens, it is going to cost a lot because the fee's are high in there. It doesn't need to be only eth or btc for it to be expensive, it just needs to use its blockchain and since there are not any I know that uses bitcoin blockchain, it is obvious that this applies to ones that uses ethereum blockchain.

If you are investing into an erc20 token at this day and age, you have to make sure that you earn at least 10+ dollars from it, or calculate it 10 dollars less from the start, if you invest 100 dollars into it, think of it as 90 dollar start and you have to make over 10% to profit from it and even get to break even levels. This is why it doesn't make huge sense to invest into nearly stable or at least steady ones, you should check ones that should help you invest into ones that will make you bigger returns very quickly (and of course risky because of it).

Quote from: boyptc on December 23, 2020, 07:53:48 AM

XRP looks in bad shape and I don't think it's a good time to keep making transactions on it.

Why XRP is not good to keep? Can you tell me the reason ? XRP going to scam ?

Quote from: Lordhermes on December 22, 2020, 08:08:00 AM

Quote from: rhomelmabini on December 22, 2020, 05:01:33 AM

I tried to move my CHZ token just the other day and it costs me $5 seems that's constant even the value of the them becomes lesser or higher.

It's quite low fees but it's not safe at all. a lot of traders believe XRP is a pump and dump coin. instead of XRP, TRC20 based USDT is the best one. because at Binance there no charge if you withdraw TRC20 based USDT. Today XRP dump a lot, so stay away from this

Quote from: Lordhermes on December 22, 2020, 08:08:00 AM

They really are (ERC20 tokens) the one with higher withdrawal fee even their USDT that is fast on transacting has the same accrual of fee to withdraw so sometimes I do rely on XRP or TRX a choice. Sad to know that XRP isn't that best to rely now it's too risky they'll be gone while you're transacting.

I'm also a Binance exchange user, and to avoid high withdrawal fees I usually choose to withdraw via coins that have low fees.
Usually the coins I choose to make withdrawals from exchanges are DOGE or TRX, besides both have low costs but the process is
also faster. Moreover, the price of Bitcoin is on the rise, making Bitcoin withdrawals is very expensive.

I have seen a article from Kraken. It will be helpful for all traders. We can expect almost same Estimated Time and Confirmation requirements with Binance.
Remember : This article is describing about cryptocurrency deposit processing times.

https://support.kraken.com/hc/en-us/articles/203325283-Cryptocurrency-deposit-processing-times

Here we can see Confirmations Required and Estimated Time informations.

============================================================================

Here You can see Binance deposit and withdrawal fee

https://www.binance.com/en/fee/depositFee

Crypto Coins with Fastest speed and Lowest fee in Binance withdrawal

1) ATOM (Cosmos)

Confirmation : No need
Estimated Time : Instant
Withdrawal Fee (Dollar Value) : $0.08

2) EOS (Eos)

Confirmation : No need
Estimated Time : Instant
Withdrawal Fee (Dollar Value) : $0.25

3) ICX (Icon)

Confirmation : No need
Estimated Time : Instant
Withdrawal Fee (Dollar Value) : $0.01

4) KAVA (Kava)

Confirmation : No need
Estimated Time : Instant
Withdrawal Fee (Dollar Value) : $0.03

5) NANO (Nano)

Confirmation : No need
Estimated Time : Instant
Withdrawal Fee (Dollar Value) : $0.01

6) XLM (Stellar Lumens)

Confirmation : No need
Estimated Time : Instant
Withdrawal Fee (Dollar Value) : $0.002

7) XRP (Ripple)

Confirmation : No need
Estimated Time : Instant
Withdrawal Fee (Dollar Value) : $0.08

This is more the influence of the price of Bitcoin and possibly other cryptos that go up, so if it is calculated into the USD rate it will be very large. Basically, the rate is the same as before and is fixed based on the coins to be withdrawn. Usually, coin withdrawals with BEP2 can be cheaper than others.

I can say this is as a result of the bull run. It seems binance has a fixed amount of fee in each of the Cryptocurrency to be withdrawn and the value of such increases in line with the price trend.
For example, the withdrawal fee for btc might be at constant 0.0004BTC and that will be changing in dollars based on the current market value.