High ETH withdraw Fees, how to Solve

[airdata]

I use Binance,  Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?               

[Charles-Tim]

Exchanges will always charge high fee, exchanges do charge fees that can get the transaction confirmed in time and in addition charge extra fee which is very high. You can click on the link below and glance through the ethereum fee on various exchange listed, but most ethereum exchange fee are very high.

Ethereum Withdrawal Fees on  Cryptocurrency Exchanges

[cryptoaddictchie]

I use Binance,  Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?               

They have fix fee, so it actually got become expensive when those fee of coins increase in price. I don't know they depend on the same fees as before which should be change since the token also change price. But let's remember that it will quite hard to implement a change for this from time to time since the market is also volatile. Not sure which one has the smallest fee when withdrawal, as far as I know binance already got a small fee compared to others.

[palle11]

I don't think that there is a solution to the high Ethereum fees now that ethereum is volatile and that is one factor leading to high fee. I think what you can do is to look for exchanges charging lower than the other and I believe the higher volume an exchange creates or has that can determine the high fees.

[Charles-Tim]

But let's remember that it will quite hard to implement a change for this from time to time since the market is also volatile. Not sure which one has the smallest fee when withdrawal, as far as I know binance already got a small fee compared to others.

This will be easy for programmers to do, to have an exchange fee in relation to the normal fee that will be paid to miners, but exchanges would not like such because they are gaining more due to volatility as bitcoin and other cryptocurrencies are reaching all-time-high.

Not sure which one has the smallest fee when withdrawal, as far as I know binance already got a small fee compared to others.

From the above link, Binance is not the the exchange with lowest fee but it is still better to many of those exchanges as some exchanges charge over $50 and $100 with ethereum at $4300

I don't think that there is a solution to the high Ethereum fees now that ethereum is volatile and that is one factor leading to high fee. I think what you can do is to look for exchanges charging lower than the other and I believe the higher volume an exchange creates or has that can determine the high fees.

Volatility will be an excuse for the exchanges but not the real reason. The fee hasn't been that high while making use of noncustododial wallet in a way all fee will go to miners that include the transaction into a block. But exchanges having fixed price in the coin and not in fiat that fluctuates is the issue, or having fixed price in the coin while making it fluctuates with the mempool in a way they will still have their own percentage gain.

[cryptoaddictchie]

Volatility will be an excuse for the exchanges but not the real reason. The fee hasn't been that high while making use of noncustododial wallet in a way all fee will go to miners that include the transaction into a block.

So does it mean they are letting to gain more from users? Not saying it but could be also the way, if you said that programmer can easily done this so easily. Cause if it's true then that is too high profit from them especially when the users are no choice but to do some withdrawal with the same equivalent of coin on their record.

[teosanru]

I use Binance,  Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?               

Haha Binance were earlier charging a fixed fee for all the withdrawals but with recent congestion on the Ethereum network exchanges don't take this risk, instead they have made the fees option to variable which means the fees would depend upon the network fees and some small portion of fees for Binance so the fees you see on the exchange while withdrawal is Actually the fees of Ethereum network, Binance can't do anything about it, it you use the network ERC20 using MEW to transfer ETH still the fees would be high.

[BitcoinAccepted]

We currently don't have solutions for that but there are some alternatives in doing transactions such as using Binance Smart Chain (BSC) to make alternative transactions. Honestly, I haven't used Ethereum wallet for a while because of the high transaction fee especially if you're having a micro transaction, sometimes the fee is much expensive than the actual transaction.

[Charles-Tim]

Binance can't do anything about it, it you use the network ERC20 using MEW to transfer ETH still the fees would be high.

Did you mean binance does not charge excessively? I do not think so. If you can be able to make use of mempool observer, there are times the mempool will be less congested, the fee will be cheaper at the time, also the on-chain fee is often cheaper than exchange fee. Let me use bitcoin as an example, Binance is charging 0.0005 BTC, at a price of $60000, that is around $30 as fee when I still pay less than $2 as fee few days ago, it depends on the mempool.

We currently don't have solutions for that but there are some alternatives in doing transactions such as using Binance Smart Chain (BSC) to make alternative transactions.

If you are making use of BSC, you are not having the real coin. I will prefer to hold the real coin than making use of any other chain. But the fee is indeed low.

[wissy]

Probably the chipset option is to exchange to a coin with low withdraw fee like Litecoin and then transfer it to Crypto.com exchange, which has now one of the lowest withdraw fees and swap to ETH then send it to your wallet.
I know its one more step but that way you will save 10 $ or more.

[zasad@]

I use Binance,  Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?              

Buy a ledger or trezor, transfer your Ethereum to the polygon network (L2 solution) and trade on 1 inch or other decentralized exchangers.

Complete list of available projects
https://awesomepolygon.com/

If you trade Ethereum and popular tokens, then I don't understand why use a centralized exchange now.

[topbitcoin]

I use Binance,  Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?               

Some ERC20 got high fees in exchanges, it is fact that we must take. That is why nowadays people start to change to another chain like BSC or Tron or any chain which cost less fees to make transaction. I think if must use high fee and trade less than $10, it is not really worth to do.

[khiholangkang]

I use Binance,  Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?               

The exchange with the cheapest ETH transaction fees I know of is FTX. These exchanges have very low transaction fees, and depending on ETH gas at the time, the lower the gas the cheaper the transaction fees will be.

[mindrust]

I use Binance,  Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?               

Convert it to something else and then withdraw. Don't use expensive chains for withdrawals or transactions. There isn't any other possible solution for that problem. Use doge, ltc, usdt whatever is cheap. If you want to withdraw ETH and ETH only; then you are out of luck. Just abandon it altogether and find something cheaper because apparently you are not meant to use eth. It is only for those who can afford to use it.

[danherbias07]

I have asked my question about this for a long time and there's really no answer to it. "Are trading fees not enough for them to lower the charge in withdrawals?" Compared from wallet to wallet, it's obvious it's way far from how they charge us. I don't know how much it is in Bitcoin now but if my memory serves me correctly, I remember it was 50k sats when I last withdraw Bitcoin from an exchange, don't know about Ethereum though.
That's a lot of money when you are the type to be converting all the currency you have in USD. 
Solutions? Win that fee in trading.

[cryptomaniac_xxx]

I have asked my question about this for a long time and there's really no answer to it. "Are trading fees not enough for them to lower the charge in withdrawals?" Compared from wallet to wallet, it's obvious it's way far from how they charge us. I don't know how much it is in Bitcoin now but if my memory serves me correctly, I remember it was 50k sats when I last withdraw Bitcoin from an exchange, don't know about Ethereum though.
That's a lot of money when you are the type to be converting all the currency you have in USD. 
Solutions? Win that fee in trading.

It's because there are no definite solution for the high gas fees by ETH.

All we have is just work around, but still it covers some money before we can make a withdrawal. Bitcoin is way cheaper that Ethereum, it will just cost less that a dollar to do a transaction with 1 input -> 1 output.

This is the sad part of Ethereum, yes, I know it's a good investment, but how can you make profits when the withdrawals fees are so expensive?

[bakasabo]

From my point of view, the only way right now to make Ethereum transaction cheaper is to make Ethereum cheap. As the transaction amount is a number of gwei, make Ethereum cost $100 and the amount you spend on fees wont bother anymore. But, no one will allow Ethereum price to drop that much. Impossible to solve high transaction fees issue. The only probable solution is to use other blockchain instead and completely ignore Ethreum blockchain. Or make exchanges just to make cheaper transaction and then exchange back. But that might cause even more losses or expenses.

[kidbounty]

I use Binance,  Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?               

no, all withdrawal fees on the exchange are not much different from one another. there is no solution to this problem now, you can only surrender. compromise the current fee, or don't use the ethereum network no matter what. my advice is better don't move your ETH for now. hold it on the exchange, or sell it if you are afraid it will be hacked.

[Jackl87]

I use Binance,  Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely. But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?               

Usually the withdrawal fee is fixed for every token and decided by the exchange itself. This needs to be adjusted as often as possible because the network fees, especially the ones on the ethereum network are changing quite a bit during a few days and this is a lot of work. This way it can happen, that the withdrawal fees of exchanges are extremely high for a certain token because for example the price of the token increased, then the fixed withdrawal fee needs to be adjusted. So you just need to check from time to time.

[JeffBrad12]

I use Binance,  Kucoin etc crypto exchange for Trading, Binance use very often and I use Kucoin very rarely.

You should move from kucoin and i don't use those exchange sites anymore as they were charging very high fees. I have been migrating to FTX and i have been staking some FTT to get free ethereum transaction.

But my main problem is high eth withdraw fees from Exchange to Personal wallet (MyEtherwallet). Have any crypto exchange with low withdraw fees?               

You can try to use FTX. This is the best exchange site right not as you will be getting some discounts when you're sending ethereum or ethereum assets but when it comes to the blockchain with cheap transaction fees and it will charge you zero fees.
This is the best exchange site in the world. It's very responsive and i do like how it was giving discounts for the transaction fees by its users.