Binance raised withdrawal fees again?

[tsaroz]

The withdrawal fees were changed from 0 to 0.2 a month ago for the withdrawal of USDT as TRC20. I went with withdrawing some USDT from binance to Kucoin to buy some velo but the withdrawal fees taken were $1. It's absurd how much binance is charging for withdrawal when the fees from blockchain are most probably free for binance as they are super representative on tron blockchain. 
I use binance for it's cheaper transaction fees but these these unnecessary withdrawal fees are going to be a push factor as newer exchanges too are coming with aggressive promotions.

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[tbone777]

Binance want more and more money, as usual. And they want to push you to use BUSD

[tbct_mt2]

The withdrawal fees were changed from 0 to 0.2 a month ago for the withdrawal of USDT as TRC20. I went with withdrawing some USDT from binance to Kucoin to buy some velo but the withdrawal fees taken were $1. It's absurd how much binance is charging for withdrawal when the fees from blockchain are most probably free for binance as they are super representative on tron blockchain. 
I use binance for it's cheaper transaction fees but these these unnecessary withdrawal fees are going to be a push factor as newer exchanges too are coming with aggressive promotions.

Your finding is right. Binance increase their withdrawal fee for USDT on all chains, not only increase on TRC-20 chain.

The USDT withdrawal fee is:
- BEP2: $1
- BSC: $0.8
- ERC20: $20
- TRC20: $1
- OMNI layer: disabled.

When fee on TRC20 is $0.2, fee on BSC is $0.1
Binance Adjusts Withdrawal Fees for BUSD and USDT on Selected Networks. I can not find their news for the newest adjustment on withdrawal fee. 

[cabron]

Its not surprising after all they are the most trusted exchange so far. Any changes CZ would do will make people complain but I'm sure you will still continue to use Binance. Its the biggest in crypto that eats up all the volume. Influencers on youtube promotes Binance even when they get no pay for it. It's a big difference in the fee though that USDT (TRC20) withdrawal will cost $1.

[Bravehash]

Not new, I've been paying 1$ for trc20 withdrawal on binance since last month now, I don't understand why binance decide to raise Tron USDT withdrawal fee when Tron coin withdrawal costs 1 TRX on binance, I withdraw USDT TRC20 from CoinEX and they charge me 0.3, it's the cheapest I've seen but since I prefer binance service I have no choice

[Little Mouse]

The fee was increased long ago, exactly after few days when they first started to charge $0.20 USDT. This was a stupid decision in my opinion and from some point of view, it was totally biased decision to encourage the usage of their BUSD.

[bryant.coleman]

The fee was increased long ago, exactly after few days when they first started to charge $0.20 USDT. This was a stupid decision in my opinion and from some point of view, it was totally biased decision to encourage the usage of their BUSD.

Why should they encourage the usage of USDT, which is essentially a stablecoin token issued by one of their competitor exchanges (Bitfinex)? I am quite surprised that they still allow USDT in Binance platforms. Now regarding the high withdrawal fee, I don't think that $0.20 will discourage a lot of users from doing transactions with USDT. I have seen a lot of users still transacting with USDT in ERC-20 Blockchain, despite the very high fee (~$20). 

[Little Mouse]

it was totally biased decision to encourage the usage of their BUSD.

Why should they encourage the usage of USDT,

Have you read what I said? I think you have missed my post. I didn’t say they are encouraging USDT. I said they are encouraging the use of the Binance Chain stablecoin BUSD.
And the fee isn’t $0.20, it’s $1 per transaction which I think not a small amount considering the required fee needed for them.

[electronicash]

when users in crypto learned that it was cheaper to send USDT in TRON than USDT - ERC20, they began using TRX20 USDT extensively that Binance felt they are missing a lot of profit and then adjust the fees. $1 isn't that high compare to ETH gas.
i didn't discover it was cheap to use the USDT of TRX until there was a thread about it. 

it was totally biased decision to encourage the usage of their BUSD.

Why should they encourage the usage of USDT,

Have you read what I said? I think you have missed my post. I didn’t say they are encouraging USDT. I said they are encouraging the use of the Binance Chain stablecoin BUSD.
And the fee isn’t $0.20, it’s $1 per transaction which I think not a small amount considering the required fee needed for them.

there isn't a lot of projects yet on BSC that will make us go and use BUSD yet. i doubt there will be many. been around for a while but i don't even have a BSC wallet.

[cryptoaddictchie]

Binance want more and more money, as usual. And they want to push you to use BUSD

If they want to push using BUSD it's not matter at all since there is benefit on using their stablecoin instead of tether and usdc. I know this cause I'm taking advantage of the busd. Holding it, can give you free token reward from launchpool and no fee on trading busd pair tokens. If you used usdt on trading the fee is huge unlike using busd which is totally free.

[nicecrypto]

The withdrawal fees were changed from 0 to 0.2 a month ago for the withdrawal of USDT as TRC20. I went with withdrawing some USDT from binance to Kucoin to buy some velo but the withdrawal fees taken were $1. It's absurd how much binance is charging for withdrawal when the fees from blockchain are most probably free for binance as they are super representative on tron blockchain. 
I use binance for it's cheaper transaction fees but these these unnecessary withdrawal fees are going to be a push factor as newer exchanges too are coming with aggressive promotions.

I must say that this does not apply to only Binanace alone. Last month I wanted to withdraw about 200 USDT from Coinsbit exchange through ERC20 and my charges was to be 20USDT so I used thr TRC20 instead since both where available in both Coinsbit and Binance i was transferring to USDT to and eventually I was charged 1USDT which I believe was better than paying 20USDT. Until Binance charges gets to 20 USDT for that amount of transaction, I believe I am still good and nothing wrong in promoting your product.

[MrcMrc]

Most of the exchanges have increased their withdrawal fees lately I can’t say if this is unconnected with the general increase in blockchain transactions. I have noticed the increase in withdrawal fees on bi-nance about a week ago when I wanted to withdraw my bitcoin.

[ethereumhunter]

It would be no surprise if Binance raised withdrawal fees because that is always happening. That will depend on us how we want to withdraw and I think we still have many altcoins that we can use for withdrawing to prevent the high fees. Maybe Binance wants their member to use BSC to reduce the fees, but if many members finally use BSC, they will increase the withdrawal fees (again). We can not do anything about that, but we can search for the other coins that do not have high withdrawal fees.

[dogtana]

So go to Mandala Exchange, it launched on Binance Cloud...

[jrrsparkles]

What is the withdrawal fee for BUSD?

It is no wonder that they are trying to promote their own coins further by these kind of strategies but still $1 is too low when you compare the withdrawal fee on other chains other than TRC.

[unusualfacts30]

I think it's part of business model to grow bnb. best way to go about this is exchange your coin for bnb before withdrawing. bnb has very minimum fee compare to usdt or any other stable coin.

[shinratensei_]

Binance want more and more money, as usual. And they want to push you to use BUSD

I don't think so. Almost all of the exchange sites were charging the same fees that already used by binance. I have been withdrawing from the various exchange sites that used TRON USDT and these exchange sites were charging me $1 as the transaction fees while FTX has become the only exchange site that charges me less than it.

Even when you are using BUSD and the tx fees will be the same.

[Tigerheart3026]

Binance USDT trc-20 fee was increased 1$ in 2 months before can't remembering accurate date, i think it's still lower and pair withdrawal fee in the other exchanges, can you recommend me if any exchange is lower than this. BUSD fee is 0 it's binance promotion, will provide lower fee or free and it's their advantages to increase customers.

[zasad@]

I would like to wish this exchange a speedy ruin.
The position of a monopolist allows you to charge any fees, but why then create your own ecosystems with cheap fees?
The fees on the Ethereum network are quite justified by the price of gas, but on other blockchains, transactions are much cheaper.

[DaMut]

What is the withdrawal fee for BUSD?

It is no wonder that they are trying to promote their own coins further by these kind of strategies but still $1 is too low when you compare the withdrawal fee on other chains other than TRC.

you should be able to guess it, of course they are charging 0 fee for Busd withdrawal. I just tested it a few hours ago and sending it to my Bsc wallet, just look at the rate they are charging Usdt withdrawal to other chains and their chain. They are charging less fee than on their network compared to the others, it is very clear they are indirectly herding us to use their network and their product than the others.