Cheapest Way To Withdraw From Binance?

[mk4]

The thing about my situation is I don't really want to sell the altcoin that i have.  Its an ETH coin.  But since people say if i keep it and send it to my nano ledger... well im going to pay around 25 dollars the next time i want to move it to an exchange.  Is that accurate?  But my other concern is many of the exchanges I could trade this altcoin... im country restricted.  So wouldn't this be another reason to not with this altcoin?

You only need to pay for gas fees when moving ETH/ERC20 tokens from an ETH wallet to an exchange. Whereas fees range from $2 to around $20 depending on how congested the mempool is.

If you're country restricted, then you could simply use the likes of UniSwap and SushiSwap. Though expect exchange fees to be more expensive since we're talking about on-chain DEX exchanges here.

People also mention about just trading it all for BNB.  Well the first thing is BNB isn't stable like btc.  I mean... i rather have btc than bnb.  The other thing is where can I even sell bnb if im a us citizen but in a restricted state?  I cannot use Binance.com... nor binance.us due to the state where im from.  So would this be another reason to not hold BNB?   Or is this not an issue for people?  Like imagine you cannot sell a coin because the exchanges that allow you to trade it... you are country restricted.  What do you do then?

You can sell to other people in a peer-to-peer manner, but you'd have to find a buyer/seller that's actually not a scammer.

But seriously mate. If you really want BTC, then just pay for the freakin transaction fee LOL. You're honestly just better off paying the fee rather than wasting precious time thinking of what to do. You could've spent the time doing something productive instead, probably something that could earn you an easy $20 so you wouldn't have problems with the withdrawal fees. 🤷‍♂️

[Maus0728]

well im going to pay around 25 dollars the next time i want to move it to an exchange.  Is that accurate?

The transaction fee depends on the mempool whicn means that is not always a $25 fee, it could probably go above $25 and it could also be as low as $5. The reason why you are paying a hefty $25 fee is that it is set by the exchange (Binance) and is usually their standard withdrawal fee being charged to their customers.

You can take a look at ethgasstation to help you estimate the amount fee you will be spending.

So based on that... best to just convert altcoin and tiny amount of bnb to btc?

As for me yes! And I think this will help you save from a lot of headache worrying if the token you are holding is still worthy to trade when the time you have decided to trade it on the exchange. You really can't be certain if the token you are holding to stil has a value unlike BTC.

[Bikan]

Simple agreement exists between Tron and Binance Smart Chain.

One might agree that the Ethereum blockchain has always been the safest and most respected, and if can one manage to pay for a withdrawal, it's really the best option.

Holding usdt or usdc, on the other hand, is a risky proposition. Is it important to you to preserve a stable currency if you invest in cryptocurrency?
If you believe the cost is excessive, one could ignore it and place this in the trade.

[Reid]

I've read all the replies of OP and I can see he always uses the word "future".

Here is the other thing.  If i have usdt/usdc on the tron network... what if i cant sell that in the future?

Is there a concern if I cannot trade the usdt/usdc though in the future

You are going long-term so just pay the transaction fees in Bitcoin. That's the best possible option you could get rather than putting it in many baskets that would just stress you again about transaction fees if you want out.
It will just confuse you checking on each altcoins or stablecoins that you purchased and then having doubts about something else.
It's giving you a headache now, what more in the future?

[kramchers]

I need to withdraw from the binance exchange soon as they have KYC and I do not plan on submitting KYC.

I had been also using binance for more than 1 year, but I think once you reach the limits of your withdrawal using Binance, the platform
itself will require you to submit or to verify your KYC or else according to binance, your withdrawal will temporarily not possible except
or unless you submit to verify your KYC, just simple as that.

[Ararbermas]

~snip

If you're looking for small fee probably the best way is to sell your altcoin to bnb then dump it, because bnb nowadays isn't expensive like what bitcoin and erc20 had. And by the way you can use any swap site for that instead of exchanges, i don't if you will agree but for me it's so easy, i mean in just one click you can easily trade your coins as long as you have balance for fees as well.

[kayiboyu]

These times, I always choose to use TRON (TRX) to pay very low fees. Before I started doing this, I used USDT many times but the fee was worth $1. Then, I realized that when I was going to my transactions with TRON, I was going to pay only 1 TRX which is equal to a very low amount these days. Considering the place that I withdraw from Binance, TRX is the best option for me.

[jerry0]

I just thought about something else.


If I trade the altcoin for BUSD.  Then trade the tiny amount of bnb and btc i have for BUSD... then withdraw that BUSD to my nano ledger... would that work?  Would that be like the cheapest way since by doing that... you pay 0.8 BUSD only?  But not only that... you don't have to be concerned about price fluctations since its a flat dollar?  But compared to usdt/usdc... you dont have to pay that higher fee if its on that ETH Network?
Thus even if i traded it all for BNB, well im still subject to price fluctuations right?  So BUSD makes the most sense?  Or second option is just convert everything to btc and withdraw that way and pay the fee?


But my situation though is i would only be able to use coinbase/gemini due to my citizenship and country location though.  And I notice BNB and BUSD... the only exchanges you could buy/sell it is binance and binance.US which i cannot use.  So would this pose a problem for me in the future?  But people say there are peer to peer exchanges where you can trade with others in situations like this?  But how much more percentage would one have to pay?  Example imagine having around 2000 BUSD and wanting to convert that to btc or fiat or usdt/usdc.  How much percentage around would that be?

[Mr.Noda]

Personally, I bring it through the cardan. It turns out cheap, even cheaper than on Ripple and the dollar on the Tron network.

[jerry0]

Can anyone answer my question on just converting everything to BUSD instead and withdrawing it to nano ledger?


Would i save money on withdraw fees?  It seem yes but isn't the issue of when i want to send BUSD to an exchange, i have to pay ETH fees like the current altcoin I own because I read BUSD is an ETH coin? 



Or it isn't?

[gaston castano]

trading on binance has conditions as far as I know, which is a minimum transaction of 10$ so if your balance is not sufficient you have to add it first, and then exchange it to the type of coin you want to save, preferably if it is a small amount save on another coin that has a withdrawal fee small one.

[goldkingcoiner]

The cheapest Way To Withdraw From Binance? That might be a problem seeing as the withdrawal limit for people without KYC is very very low. So either way you pay the same percentage fees for the withdrawal from a mathematical standpoint, however, depending on the amount you need to withdraw you might need a few days or longer. I do not know if they will let people withdraw without KYC after 10th of October though...

[konflikkastil]

Looking from my own stand point, the amount of altcoins is far way more than the BTC you are holding in your wallet. And with my little knowledge of cryptocurrencies, in order be at the loosing end. I would advise you to convert half your altcoins to a more stable coin, coins like BTC, ETH and BNB. And leave the remaining half in altcoins. Reason being that, if there is any major clash and it affect your altcoins. You will be on a safer side, because these three coins have been doing great lately. There are some altcoins that are more than 4 years now, and they have not witness a major milestone yet.

[stomachgrowls]

Sell the altcoin for btc.  That altcoin can only be traded for BTC or ETH.  Sell the 5 dollar worth of bnb fo btc.  Then withdraw the whole btc balance to my nano ledger?

If you are tending to save up BTC then better to convert all your altcoins to btc and those small BnB you do have so that you could withdraw in all go and also it wont really be that much of an issue

when it comes to fees because btc fees now are cheap and binance do really have dynamic fees which means it would vary on the network.Then on that part you do store up your btc

on your ledger nano.I wont see for it an issue since you are withdrawing thousands of worth from alt to btc in overall value.Its just peanuts.

[jerry0]

Okay so the reason why I kind of don't want to convert altcoin and the tiny amount of bnb to btc and then withdraw my entire balance is not that it will cost around 22 dollars to withdraw.  Its the fact that it cost 0.0005 btc.  So its like in the future if btc goes up 10x, then that 22 dollar withdraw fee is now worth 222 dollars. 


Does that make sense?  Or is my thinking about this completely wrong?

[hosseinimr93]

when it comes to fees because btc fees now are cheap and binance do really have dynamic fees which means it would vary on the network.

Binance bitcoin withdrawal fee isn't really dynamic.
Currently, at the time I am making this post, the mempool is almost empty and 1 satoshi/vbyte is enough for getting confirmation in the next block. Binance is still charging 0.0005 BTC as bitcoin withdrawal fee.

[Twinkledoe]

when it comes to fees because btc fees now are cheap and binance do really have dynamic fees which means it would vary on the network.

Binance bitcoin withdrawal fee isn't really dynamic.
Currently, at the time I am making this post, the mempool is almost empty and 1 satoshi/vbyte is enough for getting confirmation in the next block. Binance is still charging 0.005 BTC as bitcoin withdrawal fee.

Yes, I wouldn't say binance withdrawal fees as dynamic as it is not. Maybe, exchanges should review their fees from time to time as there are really times that the network are really not busy. But I don't think exchanges have dynamic fees, mostly are fixed. I only see dynamic fees when it comes to some gambling sites. Or better yet, check the network fees other than the bitcoin network, you can check already the BSC as well.

[martina14]

I have an altcoin on binance that I need to withdraw.  I also have a tiny bit of btc and bnb on it as well. 


Basically i have roughly 2000 dollars worth of altcoin and about 8 dollars worth of btc and 5 dollars worth of bnb.


I would like to withdraw everything to my hardware wallet nano ledger s.  I only keep btc and bch in my nano ledger s.




My options seem to be



Sell that 8 dollar worth of btc for usdt/usdc?   Then sell the 5 dollar bnb for usdt/usdc?  Then withdraw either the usdt/usdc and the altcoin to my nano ledger?


Sell that 5 dollar worth of bnb for btc.  Sell that 13 dollar worth of btc for that same altcoin I have.  Then withdraw that altcoin whole balance to my nano ledger?


Sell the altcoin for btc.  That altcoin can only be traded for BTC or ETH.  Sell the 5 dollar worth of bnb fo btc.  Then withdraw the whole btc balance to my nano ledger?



It wouldn't make sense to just


Withdraw Altcoin to nano ledger.  Withdraw btc to nano ledger.  Withdraw bnb to nano ledger.  Since the withdraw fee to withdraw btc is higher than my btc balance?

Well, in tha case, I don't know what altcoins does have in the nano ledger were your the only one knows what coins they have in Nano.
now, whatever coins they have in it, check its coin fee and compared it into the transaction fee in which Binance have as far as I know
here try to open and review them all https://www.binance.com/en/fee/cryptoFee

[ZaraCB]

Since you want to withdraw in the cheapest way, I think it would be better to withdraw in BNB.  Because BNB is the native coin of Binance. Its withdrawal fee is very low. However, it would be better to withdraw at stablecoin because it will not have the tension of price dump.

[jerry0]

Posted this in another thread.


Yes I find the btc withdraw fee quite a lot which is why i kind of dont want to withdraw that way.  Again the reason isn't the usd price the withdraw price is worth to withdraw... its the btc amount.  So if btc goes ten times it... well you would have paid 250 dollars as oppose to 25 dollars for it.


The thing is i had converted my altcoin, and a tiny amount of bnb to btc already.


I am planning to withdraw it now... but are some of you suggesting to not do it this way?  Thus just convert the btc to usdt/usdc in binance smart chain network or BUSD and then withdraw so i dont have to pay the fees?  I know the simpler thing to do is just pay the fees so withdraw will be simpler.


Why do people suggest BNB?  Yea withdraw fee is low but the issue is the price still fluctuates.