Binance raised withdrawal fees again?

[tsaroz]

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.

Most of the exchanges I've been using seems to have started taking a rather high fee for TRC20 USDT withdrawal to $1. Still exchanges like coinex have 0.3 USDT fees, I think the exchanges too want to get a larger profit when there much more activity in crypto markets. But even with $1 fees, Binance USDT's withdrawal are one of the slowest compared to other exchanges.

[dhemasm]

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 suppose $1 It's ok for withdraw fee but we also need an reason why binance raised withdrawal fees, From my perspectives it's normal but it's really have some impact especially for me too as small traders and some arbitrage players, Well did you already asking on telegram group? Maybe you will get an answer for this.

[Dewi Aries]

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 think they have their own reason, if keep small maybe it is not profitable or maybe not much help them to maintain their site, it need big cost and we all know it. I think as long it is not really big amount of money (like when we want to use erc20 chain), it is still can be accepted by their users.

[andthereyou]

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 think if it happens in binance there's a big possibility it will happen to other exchange too. whether it's an emerging exchange or not.

[Kunnu]

Imo this kind of aggressive nature of Binance exchange is not good for average and small traders, increasing withdrawal fee without any specific reason is absolutely unacceptable anyways it's all depends on the owner of Binance exchange if he consider to control his temptation of money so that will be good for us.

[Cadaver20]

I often used Binance because TRC20 USDT withdrawal from Binance was free. But now there is no difference between Binance and other exchanges. As far as I know, TRC20 USDT withdrawal from Kucoin was free. I haven't checked in the last few days. From now on everyone will use Kucoin for TRC20 USDT withdrawal.

[tyz]

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. 

That's the strategy. Binance wants to move as most transactions as possible to their own chain. So they increase the fees for all other chains to reach this goal. One cannot blame Binance for this. They are only pursuing their own business interests. Everyone is free to use a different exchange.

[matchi2011]

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 think they have their own reason, if keep small maybe it is not profitable or maybe not much help them to maintain their site, it need big cost and we all know it. I think as long it is not really big amount of money (like when we want to use erc20 chain), it is still can be accepted by their users.

Users are willing to go for it as long as they are also benefiting using the exchange, like what you have said there's reason
behind maybe we are not aware or there's no clear explanation.

But in the way that traders accepts this fees or some might need to accept as they don't have any other options, it's business
and the owners knows how to play well.

[kevinzxz]

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 think $1 for withdrawal USDT TRC20 on Binance is not a big problem, because with very cheap trading fees, lots of token for you to trading and high APY staking is the advantage you get from Binance exchange, so I don't think $1 is a big problem for withdrawal fees, because coinbene withdrawal fees for USDT TRC20 is $1 (same as Binance), while Binance is an exchange that is bigger than coinbene, so I think $1 for withdrawal USDT is still reasonable and cheap for all the facilities on Binance exchange.

[CaVO32]

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 think $1 for withdrawal USDT TRC20 on Binance is not a big problem, because with very cheap trading fees, lots of token for you to trading and high APY staking is the advantage you get from Binance exchange, so I don't think $1 is a big problem for withdrawal fees, because coinbene withdrawal fees for USDT TRC20 is $1 (same as Binance), while Binance is an exchange that is bigger than coinbene, so I think $1 for withdrawal USDT is still reasonable and cheap for all the facilities on Binance exchange.

And with Binance, you are sure that your funds are safe because of their SAFU. Though $1 is unreasonable to some but I believe it is already time to increase their fees. Other small to medium exchanges are already charging the same or higher to their customers. Though we feel that it is all about business, but at least they are giving alternative options like using their BUSD. In any case, it is still up to the trader if he wants to use the services of binance or not. Are you going to trust your funds to a newly-launched exchange with very low liquidity?

[semobo]

Binance is intentionally doing it because they now know that none of the exchange is providing better service than them so they became monopoly in the global crypto trading platforms which is the reason why they are doing what they wanted to implement.

[Traderbtcc]

They raised the transaction to 1usdt per withdrawal over a month ago, probably because trc20 usdt was getting more deposits and withdrawals than their BUSD, so they decided to make some money off usdt withdrawals, and it's no longer just Binance last week I tried withdrawing TRC-20 USDT from kucoin and I was charged $1 too, seems like very soon time every exchange will want that too.

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

Everyone wants money, that's just the main aim of doing business satifybthe customers then make money off them, that's just business for you.

[Sihab76]

A few days ago Binance exchange don't allow withdraw Fees on tether withdraw but recently Binance centralized exchange already raised withdraw fees on tether. You can withdraw your tether USDT TRC20 on 1 dollars withdraw fees.

[jacafbiz]

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 think you are telling half truth, how much is Binance charging as compared to other exchanges, FTX charge $1 withdrawal fees for USDT Tron transaction fee, why are you making it sound as if Binance is exploiting their users, you can even get lower fee if you withdraw to BSC address but not supported by all exchanges for now

[btcltcdigger]

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.

Are you saying Binance is centralized and is trying to monopolize the market? Nooooooooooooo
Jokes aside, yes, as said previously, they're pushing you to BSC (Binance Shit Chain)

[senyorito123]

They raised the transaction to 1usdt per withdrawal over a month ago, probably because trc20 usdt was getting more deposits and withdrawals than their BUSD, so they decided to make some money off usdt withdrawals, and it's no longer just Binance last week I tried withdrawing TRC-20 USDT from kucoin and I was charged $1 too, seems like very soon time every exchange will want that too.

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

Everyone wants money, that's just the main aim of doing business satifybthe customers then make money off them, that's just business for you.

After all having low withdrawal fees, it is their way of calling the attention of people to use it which is normal in a business. What happened  today is just normal when talking about business it nvolves making money. I guess the main reason having high fees is that many uses it. The higher the demand is, the higher fees it have, that is business.

[Handsome Boy]

I think the fee for USDT withdrawal of $ 1 is still cheap and reasonable, because when we trading on Binance we might be able to get a profit greater than $ 1 and I think trading fees on Binance is also very cheap, so of course that's still okay with the withdrawal fee being $ 1 and as long as the fee is under $ 5, then of course it's still reasonable for me.

[Yamifoud]

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.

And, we are not forced to do it unless if we like it to do so. Binance wanted to promote their BSC and that is clearly their strategy but worried if that only be the reason that people will look for another exchange.
Binance is on the lead now among other exchanges and that brings them confidence with their decisions and they know that the trust from their users will stick to them no matter if the fees will increase.

[makishart]

A few days ago Binance exchange don't allow withdraw Fees on tether withdraw but recently Binance centralized exchange already raised withdraw fees on tether. You can withdraw your tether USDT TRC20 on 1 dollars withdraw fees.

I have ever seen that binance was chargin 20 cents for USDT tron withdrawal but this already increased since last year and this is something that must not be complained as all of exchange sites were using the same rate. FTX was also using $1 as withdrawal fees.

Im trading on the several exchange sites and this is not a problem at all. I think this is not a part of binance's strategy to promote its coin.

[Rengga Jati]

This has been since February. ANd the increased fee is not only for USDT but also for other coins. Moreover, Ethereum is also the same due to the high transaction and also increases of the tokens themselves.
https://www.binance.com/en/support/announcement/ff82416efab0438db233f018d90cfadb

And actually, the increased fee of withdrawing USDT using TRC20 is not only on Binance and now only Binance that charges fees for TRC20.
We can find out several exchanges that also increase or charge $1 or more fees for USDT withdrawal using TRC20.