Bilaxy has the highest withdrawal fee

[aioc]

I tried to rid one of my shitcoin and I found it trading on Bilaxy I convert it to Eth and checked all the other coins to convert my Eth from other coins because I know that Ethereum will incur a high fee.

But I'm very surprised to find out that all the coins had huge withdrawal fees compared to other exchange I've traded  

These are just a sample of the coins I tried to withdraw all the other coins shows very high withdrawal fee
USDT
Minimum Withdrawal 40 USDT Transaction Fee:30 USDT

BAT
Minimum Withdrawal 62 BAT Transaction Fee: 31 BAT

Their average withdrawal fee is $25

I only have $40 to withdraw but I will end up getting $5 to $10 all my profit will be eaten up by the fee, so beware of trading on Bilaxy don't deposit if you are going to withdraw small amount

[1713482831]

1713482831

[1713482831]

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[hosseinimr93]

Both tokens you were trying to withdraw (BAT and USDT) are ERC20 tokens. This means that that don't have their own blockchain and are running on ethereum blockchain.
Sending an ERC20 token is even more expensive than sending Ethereum. Because the transaction needs to spend more gas due to larger size of data.


I just visited Bilaxy to check networks they support for withdrawing USDT. They support Tron network as well.
For withdrawing USDT on Tron network, you must select "TRC20" option.
The fee they get for withdrawing USDT on Tron network is 2 USDT and the minimum withdrawal amount is 5 USDT.

[bitmover]

Their average withdrawal fee is $25

I only have $40 to withdraw but I will end up getting $5 to $10 all my profit will be eaten up by the fee, so beware of trading on Bilaxy don't deposit if you are going to withdraw small amount

My suggestion is that you convert your tokens to XRP OR BUSD or some other currency which has a very low withdrawal fee. Then you send your XRP/BUSD to another exchange with low withdrawal fees, such as FTX.

FTX has some very low withdrawal fees some of them are even free to withdrawal. Btc is free to withdrawal.  (but you must do some kyc trade xrp there)

You can see all withdrawal fees here and choose one to withdrawal and instant trade in another exchange
https://withdrawalfees.com/exchanges/bilaxy

[hugeblack]

If you do not intend to withdraw your currencies but rather want to preserve your profits, the best solution is to withdraw using stablecoins using TRON network.

I think you need to differentiate between the fees that the platform imposes for withdrawals, which are supposed to be fixed or even dynamic that not related to network congestion and the network fee, which would be better to use the Tron platform.

In general, you can reduce the fees to a minimum, but you cannot reduce platform fees.