Guide to check fees: Taker, maker, deposit, withdrawal, transaction fees

[tranthidung]

It is for people who need it. I truly believe that most of us are not over-paranoid about such things.

Notes

• With any coin, I believe you can have cheaper transaction fees on weekends.
• It is already proven with Bitcoin or Ethereum transactions.
• Make your weekly / hourly plans to save transaction fees

Table of contents

• Withdrawalfees.com
• Cointracker.io
• Blockchair.com
• Bitinforcharts.com
• Crypto51.app
• Cryptowisser.com
• Threads/ articles on effects of hour-frames or weekend-days

1. Withdrawalfees.com ^{Back to table of contents}
Link

Pros

• It provides a huge list of exchanges (60) and coins (2301)
• It is likely real-time updated (not sure)
• You can choose to get list for specific coin or specific exchange

Cons

• There is no option to filter the fee ascendingly or descendingly. Frankly, I don't know why website does not include this basic feature.

2. Cointracker.io ^{Back to table of contents}
Link

Pros

• The table is neatly visually.
• There are few stats: Deposit, Withdrawal, Taker, maker, spread.

Cons

• It is not a real-time database. The last update is on January 11, 2021./li]
  

3. Blockchair.com ^{Back to table of contents}
Visit their Compare crypto page

Pros

• real time updates from blockchain operational status
• You can compare transaction fees of some crypto currencies: Bitcoin, Bitcoin Cash, Bitcoin SV, Bitcoin ABC, Ethereum, Litecoin, Litecoin, Dogecoin, DASH, Groestlcoin, Stellar, Monero, Cardano, and Zcash.

Cons

• Stats are for networks, and does not have information for exchanges (Deposit, Withdrawal, Taker, Maker fees)
• The table shows 5 coins at the same time (even you add more than 5 coins into the filter). Therefore, you have to do it for each 5 coins, copy & paste results to your sheet and repeat it again a few times if you want to get full sheet for all available coins.
• You can not customize which statistics you want to see

4. Bitinforcharts.com ^{Back to table of contents}
Link. It is a link (with chart, stats) for bitcoin.

Pros

• You can add other coins by clicking on their ticker labels.
• There is option to customize which statistics you want to see & compare. Click on the left corner drop-down box as shown in the sreenshot (Average transaction fee, USD -- change it to what you want)
• You can narrow down the period you want. As I do in the screenshot, hover the mouse on the period (in grey), right click, and get a chart for that period.

Cons

• It simply provides you stats for networks, not exchanges

5. Crypto51.app ^{Back to table of contents}
Link
Read their attack cost formula with their explantion: How is the attack cost calculated?

Pros

• Details on theoretical attack cost for many cryptocurrency networks.
• It is helpful to warn you risks of replay attacks if you want to move your fund with alternative cryptocurrency, that tends to have lower hashrates on the network and more vulnerable to attacks

Cons

• Stats can be inaccurate.
• It simply provides you stats for networks, not exchanges

6. Cryptowisser.com ^{Back to table of contents}
Link
You can get the taker, maker fee and there are some options for you to customize the filter.

7. Threads/ articles on effects of hour-frames or weekend-days ^{Back to table of contents}

• Bitcoin transaction fees (in sats/kb). Sunday, Saturday are best to move BTC
• Gas_used and Gas limit (19/8/2020 - 19/9/2020) on ETH network
• When is the best time to send Ethereum transactions?
• Ethereum: how to save even more on gas price with a weekly plan

Sneak peak from my analyses
Bitcoin transaction fee
Weekend effects

Working-hour effects

ETH and ERC20 transaction fee (gas used and gas limit)
Click to see details

[Bitcoin_Arena]

There is this other tool i like - https://exchangewar.info

Pros
- Data seems to be updated hourly or at most very 24 hours as there is a 24-hour trading volume section for each exchange in BTC
- It has filters for each row
- You can select a specific exchange or trading pair
- Each exchange has a row for New such as Listings and Announcements that seem to be updated daily. Information is picked from reddit

Cons
-  I do see a dozen shit exchanges with zero trading volume in there

[Zilon]

Thank you for this useful information I haven't come across an information of this kind. I had to go through it over and over again to gain full grip of this vital knowledge

[TryNinja]

Funding rates are really important on a market such as cryptocurrencies. It shows if people are longing or shorting.

https://www.bybt.com/FundingRate

[tranthidung]

There is this other tool i like - https://exchangewar.info

Thanks.

-  I do see a dozen shit exchanges with zero trading volume in there

As I stated, those tools are for people who are paranoid with such parameters, want to complicate things and have spare time to filter those information. Of course, they have to do their own investigations on what those sites give.

Funding rates are really important on a market such as cryptocurrencies. It shows if people are longing or shorting.

https://www.bybt.com/FundingRate

Thank you. The funding rate can be taken to close a position before the close of each funding interval.

• BitMEX's funding history: https://www.bitmex.com/app/fundingHistory
• The funding time also triggers transaction fees on bitcoin network. It was discovered in that article The daily BitMEX broadcast at 13:08 UTC
• These findings somewhat similar to my findings (links in OP): Hour frames from 0 to 12 UTC are best to move bitcoin.

A quick tip regarding the fees of some exchanges.
Some are offering discounts on fees, such as trading fees (like takers and makers) if you hold some of exchange tokens in your account, just like in Binance (BNB token) and on FTX exchange (FTT token). I just tried these two exchange tokens for getting cheaper fees on their exchange. I think there are still lot of exchanges doing what I mentioned.

Exchanges, since 2019 if I am not missing anything, follow the trend from Binance to create their own exchange tokens, and run promotions, fee discount for users if they use own exchange token to pay for trading fees.

I remembered Binance updates their Fee schedule with the mandatory criteria to hold BNB in order to get promotion in level. Maybe they did it sometime in late 2019 or early 2020.

[GreatArkansas]

A quick tip regarding the fees of some exchanges.
Some are offering discounts on fees, such as trading fees (like takers and makers) if you hold some of exchange tokens in your account, just like in Binance (BNB token) and on FTX exchange (FTT token). I just tried these two exchange tokens for getting cheaper fees on their exchange. I think there are still lot of exchanges doing what I mentioned.

[mersal]

I think there are still lot of exchanges doing what I mentioned.

One more exchange you can add into list is Wazirx which has its own token WRX offers 50% discount on trading fee when you are holding.Basically it is an Indian exchange but owned by the Binance and also they allow foreign nationals to sign up and they have lot of trading pairs with decent volume.

Yes! We do allow individuals from most countries to sign up on WazirX except for the ones listed below -

Code:

American Samoa, Angola, Bosnia and Herzegovina, British Indian Ocean Territory, Croatia, Democratic Republic of the Congo, Eritrea, Ethiopia, Guinea-Bissau, Haiti,
 Iran, Iraq, Ivory Coast, Lebanon, Liberia, Libya, Macedonia, Mali, Montenegro, Netherlands Antilles, North Korea, Rwanda, Serbia, Serbia and Montenegro, Sierra Leone,
 Slovenia, Somalia, South Sudan, Sudan, Svalbard and Jan Mayen, United States, Western Sahara, Yemen, Zimbabwe.

[tranthidung]

Some people here talked that they don't understand what my box plots are and what strange things I used to do with my analyses. Here you go today with that article on cointelegraph and you can compare it with mine

If you don't understand visual box plots, please read Understanding boxplots. It can help you to catch meanings of this article and many of my other threads.

• Here are the best and worst times of the day to use Ethereum
• Gas_used and Gas limit (19/8/2020 - 19/9/2020) on ETH network (my analysis is for 1-month data)
• More articles
  
  • When is the best time to send Ethereum transactions?
  • Ethereum: how to save even more on gas price with a weekly plan

The chart shows that, on average, the Ethereum blockchain is busiest from 1 PM UTC to about 6 PM UTC, corresponding approximately to the early U.S. trading session between 8 AM EST and 1 PM EST. This is likely no coincidence, as during this time window both Europe and the U.S. are fully awake and at work.

By contrast, the least busy period is between 9 PM UTC and 11 PM UTC. This also makes sense — The U.S. workday is coming to a close, Europe is getting ready to sleep, while in Asia it is still very early in the morning. In addition to lower average values, the evening UTC period also sees fewer outliers.

My summary months ago.

In the last 30 days

• Gas_used around 60k combines with gas_limit around 200k⁺ (p75) look to be good for confirmations.
• Hour-frames from 7 to 10 UTC are likely best.
• Hour-frames from 20 to 23 UTC are likely worst.
• Sunday is the best day (in median). Next one is Thursday (in gas_used, gas_limit) with median, IQR, and p75 values.

When I made this topic, I made 2 plots for Ethereum transaction gas used and gas limit, you can check them at bottom of OP.

Now, expand to more new details for Bitcoin transaction fees. I quoted my post (with small edits for variable descriptions today).

In order to save transaction fees, you need to have a good strategies and solid plans.

Strategies

• Consolidate your small inputs when fee rate is cheap, as a preparation for your bitcoin transaction later (with a single or less inputs) when fee rate is higher. See the guide from LoyceV
• Try to use Segwit address (Bech32 address - bc1): it helps you to reduce transaction size that in turn help you to reduce transaction fee (at same fee rate)
• Have clear plans to move your bitcoin (when - hours, days, bi-weekly). See that topic on weekend effects

Plans

• Weekends are best days to move bitcoin: Sundays usually give cheaper fee rates than Saturday. See details
• Hour frames from 0 to 12 UTC are best to move bitcoin. See details
• Within a day, avoid hours of funding rate on BitMEX. The daily BitMEX broadcast at 13:08 UTC

I will make a summary table and edit this post. Stay tuned!

I hope these tables give you better data presentation.

• You can see weekend and working-hour effects
• Important note: % of difference here is between median. For your interest, if you use non-custodial wallet, and customize your fee rate, you can get much bigger fee-discount.
• My own findings match with The daily BitMEX broadcast at 13:08 UTC. In my table how the % suddenly increases to 33% at 13 UTC hour frame

Methodology

• Intra-week
  
  • Weekly median: median transaction fees for all transaction within specific week
  • Daily median: median transaction fees for all transactions of each days in a specific week
  • Difference (in %): [ daily median - weekly median ] / weekly median *100.
  • Stats in the table is mean of difference (all observed weeks)
• Intra-day
  
  • Daily median: median transaction fees for all transaction within specific day
  • Hourly median: Median transaction fees for all transactions of each hour in a specific day
  • Difference (in %): [ Hourly median - daily median] / daily median *100
  • Stats in the table is mean of difference (all observed weeks)

[pawanjain]

The withdrawalfees.com website is really handy. It shows the minimum, optimum and median withdrawal fees for top cryptocurrencies which is very useful when we are sending cryptocurrencies from one exchange/wallet to another. I have bookmarked this site to quickly get to know the optimum withdrawal fees for any cryptocurrency. I wish there would have been an API for the same so that we could code a program which would send us the optimum withdrawal fee and the coin for which the optimum fees is lowest than the others.

[Findingnemo]

The withdrawalfees.com website is really handy. It shows the minimum, optimum and median withdrawal fees for top cryptocurrencies which is very useful when we are sending cryptocurrencies from one exchange/wallet to another. I have bookmarked this site to quickly get to know the optimum withdrawal fees for any cryptocurrency. I wish there would have been an API for the same so that we could code a program which would send us the optimum withdrawal fee and the coin for which the optimum fees is lowest than the others.

If I am not wrong this site is giving the information regarding withdrawal fees on exchanges not the actual transaction fee so it can be changed to fast or optimal like we do in crypto wallets. Its good to find the minimum withdrawal limits and current fee structure in USD value but if you are looking for a website which gives real time btc transaction fee then you can try this : https://txfee.org/#

Which currently have BTC and ETH and creator is likely to add more cryptos in the future.

[tranthidung]

if you are looking for a website which gives real time btc transaction fee then you can try this : https://txfee.org/#

A quick check with BTC transaction fee, the site gives the overkilling fee. They suggest 124 sat/vbyte for fastest transaction (next one block ?) but if you check it with another site (that I use and believe it is very accurate), the fee would be 100 sat/vbyte.

https://jochen-hoenicke.de/queue/#1,8h
Check it at the third chart, and hover the computer mouse at the end of the chart to check latest update for size of mempool in different fee rates.

The withdrawalfees.com website is really handy. It shows the minimum, optimum and median withdrawal fees for top cryptocurrencies which is very useful when we are sending cryptocurrencies from one exchange/wallet to another. I have bookmarked this site to quickly get to know the optimum withdrawal fees for any cryptocurrency. I wish there would have been an API for the same so that we could code a program which would send us the optimum withdrawal fee and the coin for which the optimum fees is lowest than the others.

I made this topic for people who need such many details or just one of them, but I would not go to be paranoid about fees like that. It is a waste of time to check many coins only to find out the one that gives you lowest withdrawal or transaction fees.

When you are familiar with crypto, you will have some friendly coins in your list for withdrawal or transactions. Each time you do it, it is a quick check with a few coins only. Four to five coins are enough to change around at different periods.

If I move my big funds (in my capital), I will choose bitcoin. It is the safest chain to move big funds with super high hashrates and cost of attacks are expensive.

[Findingnemo]

if you are looking for a website which gives real time btc transaction fee then you can try this : https://txfee.org/#

A quick check with BTC transaction fee, the site gives the overkilling fee. They suggest 124 sat/vbyte for fastest transaction (next one block ?) but if you check it with another site (that I use and believe it is very accurate), the fee would be 100 sat/vbyte.

https://jochen-hoenicke.de/queue/#1,8h
Check it at the third chart, and hover the computer mouse at the end of the chart to check latest update for size of mempool in different fee rates.

I am using this site for a while but never seen overkilling fee suggested by the site.The only issue with that site is 6 hour confirmation value was sometimes more than the fastest fee required and it was from a bug I guess but apart from this everything is okay. Even now I check the fee for the next block and both are in the same region for now.

[Pmalek]

I just checked https://txfee.org/# as well and I have to agree with Findingnemo that they are not suggesting an overkilling fee rate for fast confirmations if we compare it with what https://mempool.space/ suggests.

Right now, the site suggests 94 Sat/vByte.
https://mempool.space/ suggests a high priority fee of 99 Sat/vByte.
https://jochen-hoenicke.de/queue/#1,8h is the best however. A 60-70 Sat/vByte would be enough for a next block confirmation right now. Checking the state of the mempool yourself is always better than trusting third-party fee calculators.

[tranthidung]

I am using this site for a while but never seen overkilling fee suggested by the site.The only issue with that site is 6 hour confirmation value was sometimes more than the fastest fee required and it was from a bug I guess but apart from this everything is okay.

I discussed about Fastest transaction that would be for one waiting block or about 10 minutes, not 6 hours.

Over killing fee

• I admit that I could be wrong in my previous post, as I did not define what is overkilling fee.
• Your post makes me to rethink that over killing fee would be some fold higher than the exact fee to use for the same purpose (waiting time)
• As my post and Pmalek's post (below) show, the suggested fee by that site is 34.3% (94 compares to 70) or 24% (124 compares to 100) than the best fee to use
• I think it is not accurate enough as a fee estimator

Right now, the site suggests 94 Sat/vByte.
https://jochen-hoenicke.de/queue/#1,8h is the best however. A 60-70 Sat/vByte would be enough for a next block confirmation right now.

They suggest 124 sat/vbyte for fastest transaction (next one block ?) but if you check it with another site (that I use and believe it is very accurate), the fee would be 100 sat/vbyte.

Checking the state of the mempool yourself is always better than trusting third-party fee calculators.

Exactly!

I also use the Electrum wallet for mobile to check transaction fee with Mempool option (not ETA, not Static). I installed it, created an empty wallet and use it to check fee only. You can double check quickly like that.  

[tranthidung]

Today I read two articles in which authors mention about the weekend effects. I invite you to read them just to double check my sneak peek about weekend effects.

• Making sense of bitcoin transaction fees
• Saving bitcoin high transaction fees

[1] in which the author wrote

Fees can also be reduced by publishing transactions at times of low volume. Saturdays and Sundays have in the past seen market fee densities drop by 50% or more compared to the preceding weekdays.

[2] in which the author wrote

Look for a time when the blockchain is less congested. On the weekend, for example, businesses are closed and fewer overall transactions are made. This gives transactions a little more space to clear.  

[tranthidung]

Update for jochen-hoenicke.de

• That website has changes, now if you visit that site, you will see only one chart, for mempool size. There is no longer 3 charts as previously and now 3 charts are separately given in 3 tabs: count, fee and weight. The Weight tab is a default one.
• Fees dipped to 8 sats/vbyte hours ago and you might enjoy low fee rates since early of Monday.

[tranthidung]

Bump !