Is There A Bitcoin Exchange That Pays Most of Fees for You?

[memzbuck]

Title says it all. Is there a bitcoin exchange that pays most of fees for you? For example, I want to send Bitcoin to my Electrum wallet but others want to withdraw too. So like my transaction is bundled with many other people's transactions. Basically, people willing to pay higher fees help to substantiate the poor man's low fee in terms of how quickly one wants receive Bitcoin. I am willing to wait even 2 days before I receive Bitcoin. Due to high on-chain fees, I cannot manage fees. Many places online do not recognize the Bitcoin lightning network as of this time of posting. FaucetPay does not support lightning network. Also no high minimum withdrawal. FreeBitcoIn, Binance and CEX are good but they do not support the lightning network.

Muun credits you instantly but wants you to always pay fee more than incoming balance. High fees must be fixed soon.

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[Nwada001]

Title says it all. Is there a bitcoin exchange that pays most of fees for you? For example, I want to send Bitcoin to my Electrum wallet but others want to withdraw too. So like my transaction is bundled with many other people's transactions.

I don't think that's ever going to be possible. This is because the exchanges and platforms that you are referring to are all business-oriented, which means they are there to make profit and not losses. No matter how little the fee turns out to be, they just have to charge it, and exchanges have the feature of allowing others to pay for the next person's withdrawal fee because your fee is always automatic if you want to withdraw.

The best option you have is to either wait patiently for the transaction fee to reduce a little more to the level that you can pay, or you shouldn't go to a centralized exchange to buy your Bitcoin at all. Maybe some P2P options might help since you are allowed to choose which fee rate you want to use and execute your transaction, but I'm not sure how much different it might be from what the centralized exchanges will charge.
 

[Potato Chips]

A lot of full fledged exchanges actually batches bitcoin withdrawals but it doesn't guarantee they won't inflate their withdrawal fee sadly.

You're better off comparing withdrawal fees of CEXes and decide from there. Here are some places to start with:

1. https://withdrawalfees.com/coins/bitcoin
2. Current list of exchanges without KYC - withdrawal fee is listed for each

Note: I'm not saying to use a certain exchange 'solely' because of their withdrawal fee

[Fivestar4everMVP]

I highly doubt if there is any exchange out there that pays more of the withdrawal fees for its users, exchanges are running a business and trading fees, as well as withdrawal fees is basically how they make their money, listing fees is just an addition.

And speaking about lighting network, I think one exchange that has implemented the lightening network is Remitano exchange, I know this because for the several times I've sent bitcoin to the exchange, I was credited immediately even while the transaction was still pending confirmation on the blockchain, although I've not tried sending bitcoin out of the exchange to get an idea of what the fees is like at the moment.

[The Cryptovator]

When discussing centralized exchanges, it's important to note that withdrawal fees are a significant factor to consider. These fees should not be confused with transaction fees, as exchanges typically charge higher withdrawal fees than what they actually pay for transaction costs. This is because exchanges engage in a large volume of transactions, which allows them to negotiate lower transaction fees. Ultimately, their goal is to generate profit from users rather than cover their fees. While it is possible to have control over fees in non-custodial wallets like Electrum, not all wallets offer this customization feature. Therefore, it is unrealistic to expect reduced fees from exchanges. It's worth mentioning that withdrawal fees encompass both transaction and processing fees and serve as a source of revenue for exchanges.

[BlackBoss_]

Title says it all. Is there a bitcoin exchange that pays most of fees for you? For example, I want to send Bitcoin to my Electrum wallet but others want to withdraw too. So like my transaction is bundled with many other people's transactions.

You and others have to withdraw your bitcoins from that centralized exchange. You can not send your bitcoins from your exchange account to Electrum wallet. You don't have rights per Terms of service and don't have private key to make any transaction on chain. You only can submit your withdrawal request and wait the exchange to approve that request, and proceed the transaction for you.

Basically, people willing to pay higher fees help to substantiate the poor man's low fee in terms of how quickly one wants receive Bitcoin. I am willing to wait even 2 days before I receive Bitcoin. Due to high on-chain fees, I cannot manage fees.

You can not manage fee because you don't have private key with your exchange account.

Exchanges are greed and they don't care that transaction fee on Bitcoin network is expensive or cheap than usual. They charge you a fixed withdrawal fee per one withdrawal. The joke is when transaction fee is cheap, they don't change it but if transaction fee goes high, more expensive, they will increase that fixed withdrawal fee and charge more fee on users.

[bayu7adi]

You can not manage fee because you don't have private key with your exchange account.

Exchanges are greed and they don't care that transaction fee on Bitcoin network is expensive or cheap than usual. They charge you a fixed withdrawal fee per one withdrawal. The joke is when transaction fee is cheap, they don't change it but if transaction fee goes high, more expensive, they will increase that fixed withdrawal fee and charge more fee on users.

The realm of cryptocurrencies appears highly promising in terms of profitability, prompting exchanges to confidently impose substantial fees on their users. Individuals who have just made a large withdrawal do not mind bearing such fees. However, for users who withdraw smaller amounts, they need to promptly seek alternatives in order to maximize their balances.

As long as this exchange continues to provide reliable and secure services, the issue of withdrawal fees will only be a concern for crypto users with small balances. There are still many users with significant balances who remain unaffected by this fee problem.

[YUriy1991]

Finding an exchange that meets all the desired criteria may be challenging at the moment because most of the exchanges do not fully pay user fees. However, some exchanges offer fee incentives, discounts or loyalty programs that can help reduce the impact of fees. Yes, other Solutions such as the Lightning Network may also be adopted more widely, providing an alternative for lower fees and faster transactions.

[flyingcarpet]

Title says it all. Is there a bitcoin exchange that pays most of fees for you? For example, I want to send Bitcoin to my Electrum wallet but others want to withdraw too. So like my transaction is bundled with many other people's transactions.

The main purpose of exchanges is to generate profits from users. There are alternatives to choose from, but the cost of transportation is limited. Electrum for example. Shipping fees can also vary. We are all aware of the increased fees recently. We had to wait for the transfer, so I don't think what you want is very possible. You just have to wait for the right time. Unless you're in a hurry.

[Mttewndew]

Paying high fees for transactions can be a real pain, especially when you're trying to save on costs. While it would be nice to find an exchange that covers most of the fees, it's important to approach these claims with a healthy dose of skepticism. Sometimes, things that seem too good to be true often are.

[Despairo]

FreeBitcoIn, Binance and CEX are good but they do not support the lightning network.

If you're looking to find an exchange which support lightning network, you can check in this list https://github.com/theDavidCoen/LightningExchanges

What the hell you're using Freebitco.in as an exchange? it's a faucet and casino site.

Maybe some P2P options might help since you are allowed to choose which fee rate you want to use and execute your transaction

If you trade via direct P2P you will not pay additional fee, but if you use a P2P site, usually they will charge additional fee. Usually the fee is low, but the rate isn't 1:1. In CEX you're trade with the actual rate, mostly trade in CEX is more profitable than P2P site.

[traderethereum]

No Bitcoin exchange pays the fee for us as the fee will be deducted from our total withdrawal.
And if that's the case, your withdrawal amount will decrease but it's okay if you withdraw a large amount of money.
As far as I know, the exchange doesn't take up to 2 days to receive your Bitcoin because that's what I experienced.
For the fees, we can't resist high transaction fees because the exchange has to adjust the transaction fees according to the conditions that occur on the network.
To deal with high fees, you need to be patient and wait until the transaction costs can go down but if you are not willing to wait, you have to pay high fees.

[karabiber]

There will be nothing we can do about the fees. There are many ways that exchanges can make a profit and they can cut or waive their trading fees. Because exchanges have enough commission income. It is entirely up to you to use decentralized exchanges but these exchanges do not support some networks.

I think Binance is good at fees and commissions right now. Purely my own opinion, i never advertise stock market. Even if you do not want to pay a transaction fee, you can apply for different ways. This may be to cash out bitcoin or the fee may be expected to reach the desired level. If you are patient trade when the transaction fees are low and do not expect exchanges to pay your fees.

[Helena Yu]

No Bitcoin exchange pays the fee for us as the fee will be deducted from our total withdrawal.
And if that's the case, your withdrawal amount will decrease but it's okay if you withdraw a large amount of money.
As far as I know, the exchange doesn't take up to 2 days to receive your Bitcoin because that's what I experienced.
For the fees, we can't resist high transaction fees because the exchange has to adjust the transaction fees according to the conditions that occur on the network.
To deal with high fees, you need to be patient and wait until the transaction costs can go down but if you are not willing to wait, you have to pay high fees.

The exchange only adjust the fee when the current condition on the network is increase, if the network is empty and back to normal, they will not reduce their fee. If they will adjust the fee every second with the current condition on the network, no one will complain about the high fee on centralized exchange.

The reason why withdrawal on centralized exchange is fast because the fee they charge are more than the cost of high priority fee.

[avikz]

Title says it all. Is there a bitcoin exchange that pays most of fees for you? For example, I want to send Bitcoin to my Electrum wallet but others want to withdraw too. So like my transaction is bundled with many other people's transactions. Basically, people willing to pay higher fees help to substantiate the poor man's low fee in terms of how quickly one wants receive Bitcoin. I am willing to wait even 2 days before I receive Bitcoin. Due to high on-chain fees, I cannot manage fees. Many places online do not recognize the Bitcoin lightning network as of this time of posting. FaucetPay does not support lightning network. Also no high minimum withdrawal. FreeBitcoIn, Binance and CEX are good but they do not support the lightning network.

Muun credits you instantly but wants you to always pay fee more than incoming balance. High fees must be fixed soon.

Lol! No! No such exchanges are available to do charity. They won't club the transactions together either. Lightening network works on a similar concept so you may want to find some exchanges that supports lightening network. This way you can keep your transaction fees at an optimum low level. What you are asking, is not available.

[Vickysagar]

I don't think that there exists an exchange that does that. Why would they pay fees for you? It's kinda bad for the business.

[noorman0]

Withdrawal fees are the most expensive they charge, first reason is they have to pay for network fees (then at least they should have multiple returns) and second is they actually don't like you withdrawing your bitcoins (high withdrawal fees are a precaution).
So let me just say that almost any centralized exchange would even be allergic to this request.

[buwaytress]

You'll lose money and time in the long run. In period of high network congestion, it's hard to see how you'll pay less with an exchange fee than paying from your own Electrum (that's the wallet you said you use). Right now, a 2 input send for next block confirmation is barely 15k sats... you said you don't mind waiting 2 days? That comes down to 5k sats.

There's no exchange I know of charging less than that. When Bitcoin returns to normal, which it does eventually, you won't be paying even 1k sats.

[KiaKia]

Unfortunately, you can't get what you want, fees are the reasons that those exchanges are still in business, the highest they can do is free withdrawal for a short period of time, like when they doing promotions primarily if the exchange is a new exchange. The sooner you realize this the better it's going to be, you will be able ti prepare.

Once we enter the next bull market, to withdraw from any crypto exchanges will be more higher because of Ethereum and high value of the coin, Ethereum Gas fee and that of Bitcoin always increases in every bull market.

[bayudndy]

Exchanges offer a fee-sharing or discount mechanism as a competitive advantage or as an incentive, such as keeping their native tokens. However, fully covering transaction fees for users is not a standard practice in the industry. In addition, centralized exchanges often set their own withdrawal fees, which can vary depending on factors such as the cryptocurrency being withdrawn, network congestion, and the exchange's business model. These fees are often structured to generate revenue for the exchange and cover operational costs rather than fully reflect transaction costs incurred. So it's hard to do this because it affects their revenue stream.