Binance has resumed charging fees on withdrawals through BSC(BEP20) network

[Sticky Bomb]

Like the title says, I observed that Binance has ended their free withdrawals through the BSC(BEP20) network. Although they are starting out very small with the fees and they may likely be increasing the it gradually over time. As at yesterday when I attempted sending USDT accross to another exchange for P2P, the fee was at 0.01 USDT which is still negligible.



I brought it here to inform everyone that BSC(BEP20) network withdrawals are no longer free, we should all take note

[Chinesebaby]

Like the title says, I observed that Binance has ended their free withdrawals through the BSC(BEP20) network. Although they are starting out very small with the fees and they may likely be increasing the it gradually over time. As at yesterday when I attempted sending USDT accross to another exchange for P2P, the fee was at 0.01 USDT which is still negligible.

I brought it here to inform everyone that BSC(BEP20) network withdrawals are no longer free, we should all take note

Thanks for the vital information you just passed across, because infact I never knew Binance has already started adding fees to transaction done on its Binance Smart Chain until now. Because the fees is still quite low, $0.01 for external exchange transaction compared to transactions done on other network like Tron network (TRC 20). So how about internal exchange transaction. Is it still free or now has a fee too?

[Karl_3000]

I do not think this kind of information is necessary, I have noticed this since 2 weeks ago. Other exchanges that did not add fee to BSC blockchain transfer before have also added fee.

[Sticky Bomb]

I do not think this kind of information is necessary,

That's what you think and it's fine. However, I don't share the same thought with you, same reason I started the thread to share some information to others. It's safe to say you don't appreciate information as long as you're in the know already.

I have noticed this since 2 weeks ago.

I think you're right, I just checked some transactions I've had from this month and saw the fee, it only came to my attention yesterday and I saw the need to share. It's safe to say they started with the fee this month

Other exchanges that did not add fee to BSC blockchain transfer before have also added fee.

Yep, they should since it's a network fee and everyone sending through the network would pay the compulsory fee since it would be automatically deducted from the total amount they're sending across.

[Mpamaegbu]

OP, thank u for sharing it here. Though e don reach months wey d thing don dey occur. Maybe u nor too dey use Binance or u nor dey withdraw through BSC. I for share am wen I notice am months ago but I reason sey awa people nor too dey use Binance again as govment nor allow us do P2P there again na.

I do not think this kind of information is necessary, I have noticed this since 2 weeks ago.

Why not? No information dey stale to share. Wetin dey old for ur eyes fit dey new for anoda persin eye. Again, if u read or see something and u nor share am and anoda persin share am, make u nor make am look like dat persin waste im time or ur own. Dat attitude nor dey good.

[SmartGold01]

Few days ago I perform transaction using that network you mentioned I wasn't charged for any thing, normally when you are sending below $10 worth of any of the currency you would be charged but anything about $10 to $23 there is no fee when making withdrawal.
Though this could be true as it could be implemented last night or something so, but even if this implemented I don't think the fee could be that much where it would be above $0.05.

[Issa56]

Like the title says, I observed that Binance has ended their free withdrawals through the BSC(BEP20) network. Although they are starting out very small with the fees and they may likely be increasing the it gradually over time. As at yesterday when I attempted sending USDT accross to another exchange for P2P, the fee was at 0.01 USDT which is still negligible.



I brought it here to inform everyone that BSC(BEP20) network withdrawals are no longer free, we should all take note

I notice d charges few weeks ago, but since the charges no be something wey big I no really send am, but my mind no even go say Dey don end d free withdrawal though BSC chain. Even as Binance Dey charge me now, I just see am as normal thing because Wetin dem Dey commot no be something wey go really affect person like that. Compare to Wetin other chains Dey charge must especially ETH chain, dis Bsc chain no Dey charge anything be that, but I no come even sabi why dey no make am free again, or Binance self dey hustle for money. Na we dey see am like say na small money, if u calculate d amount of people wey go dey make withdrawal daily, e go later turn money.

[justinlamode]

Few days ago I perform transaction using that network you mentioned I wasn't charged for any thing, normally when you are sending below $10 worth of any of the currency you would be charged but anything about $10 to $23 there is no fee when making withdrawal.
Though this could be true as it could be implemented last night or something so, but even if this implemented I don't think the fee could be that much where it would be above $0.05.

The fee is not up to $0.05, it is just around $0.01 which is negligible. Transaction fee is not supposed to be a problem now because Bitcoin that used to have high fees have become so cheap to make transaction. For a long time now, transaction cost have fluctuated between 1sat/vB to 3sat/vB, the highest I have spent as fee is about $0.6 and I spend as low as $0.25 sometimes too. Transaction fee is not a problem now so we are at the best time to accumulate Bitcoin.

[Mpamaegbu]

~snipped~

I can also be wrong but it is good to correct someone politely just as you did unlike sad- maker

It's ok, Karl. I understand ur point. But e don do.

To every other persin too, I say make una end dis quarrel quarrel here. I don dey read a few posts wey awa members dey quarrel for LB. Make una stop am before here go become toxic. Abeg. Na beg I beg una. There's nothing here wey worth fighting for and making enemies of people wey we nor even know in persin and wey we fit to nor even meet till end of time. You can disagree wit somebodi but make una nor let am degenerate into somethin else. Na learned men we be. We get integrity 😏. Let's make friends and babies!

Make una shield una cutlasses.

[Boiboi20]

Few days ago I perform transaction using that network you mentioned I wasn't charged for any thing, normally when you are sending below $10 worth of any of the currency you would be charged but anything about $10 to $23 there is no fee when making withdrawal.
Though this could be true as it could be implemented last night or something so, but even if this implemented I don't think the fee could be that much where it would be above $0.05.

I actually used that network a few days ago and was not charged at all normally anything below $10 come with a small fee but once your sending between $10 and $23 there is usually no withdrawal fee maybe they updated it recently but even if they did the fee should not be anything serious definitely not more than around $0.05.

[Yablee0]

I know this is always their areas of concentration increasing their transaction fees and all that, that is not even the problem because no matter how high their fees grows we are ready to pay just to have our daily transactions done and secured but the key area is for them to focus more on enhancing  their platforms to be scammed free, because the rate in which fraudulent activities is going higher is getting too much, especially bybit. Last week I was nearly scammed If not God intervention that I check well, so the whole thing is even getting me scared each time am trading my coin.

[Proty]

Like the title says, I observed that Binance has ended their free withdrawals through the BSC(BEP20) network. Although they are starting out very small with the fees and they may likely be increasing the it gradually over time. As at yesterday when I attempted sending USDT accross to another exchange for P2P, the fee was at 0.01 USDT which is still negligible.



I brought it here to inform everyone that BSC(BEP20) network withdrawals are no longer free, we should all take note

This is really a good one . The last time I make use of binance , I didn't notice this maybe it has never been implemented then.notwithstanding, the price is still low compared to what other exchanges is charging like kucoin. They are charging about $1.07 usdt for using bep20 . So this 0.01 usdt is still free in my opinion considering what other exchanges are charging as there service fees for making use of bep20.

[Emeraldo]

This one concern people wey dey use Binance and the other exchanges wey dey use am do transactions like peer to peer and other ones like conversion from the balance wey Dem get from Dem account. E kon be like say Binance don tire to dey allow free transactions from their exchange wey supposed dey dey free to promote their chain so that more people go prefer to dey use am.

This one wey Dem do sweet e kon make me wey reason why dey go start am and they no fit continue am again. Abi they don tire to dey promote their network wey get small fee. Una wey dey use Binance go need check am well  again if they go change their mind later.

[Antotena]

I know this is always their areas of concentration increasing their transaction fees and all that, that is not even the problem because no matter how high their fees grows we are ready to pay just to have our daily transactions done and secured but the key area is for them to focus more on enhancing  their platforms to be scammed free, because the rate in which fraudulent activities is going higher is getting too much, especially bybit. Last week I was nearly scammed If not God intervention that I check well, so the whole thing is even getting me scared each time am trading my coin.

Using Binance BSC to make a withdrawal na advantage for Binance. Wetin I see for this thing be say, them been allow us use their chain for free so their chain go dy active. Chain analyst go think say there is assets movement in their chain and are going to have more numbers if the chain analysis want to carry out their usually counts because this thing be like competition among chain, e go make BSC really get exposure and more outreach say the chain dy very active.

Left to me, the fee is insignificant, you wouldn't even know they charge you so it's still make sense and allows users to use their chain as free exchange compare to Tron wey dy ask for 1usdt for transaction fee. Solana self dy annoying, despite say them get fast chain, the feed are crazy I don't know why even when the chain get less congested, they don't reduce this fees. The money exchanges makes from withdrawal fees is crazy, we have not put the likes of Bitcoin into discussion.

[Plutomanian]

Like the title says, I observed that Binance has ended their free withdrawals through the BSC(BEP20) network. Although they are starting out very small with the fees and they may likely be increasing the it gradually over time. As at yesterday when I attempted sending USDT accross to another exchange for P2P, the fee was at 0.01 USDT which is still negligible.

https://i.ibb.co/yvNGJXN/binance-fees.jpg

I brought it here to inform everyone that BSC(BEP20) network withdrawals are no longer free, we should all take note

I thought people from this side of the world no longer use Binance soon after the p2p was disabled. I think the amount Dey charge now is relatively very low and it will be increased over time and it wouldn’t be a bad thing if they give an official statement as to why they have to add the fee rather than just resume the fee without letting their clients know.

[Merit.s]

I do not think this kind of information is necessary, I have noticed this since 2 weeks ago. Other exchanges that did not add fee to BSC blockchain transfer before have also added fee.

Wetin you think say no dey necessary na e dey more important to other people because no be everybody go get the same interest. I no dey use Binance for long because no p2p trade so I no know about this update.

I believe say some forum members for we local board too just dey see or hear this for the first time through this post. Wetin I take like Binance be say their network fee still dey low compared to other network.

[Obim34]

I brought it here to inform everyone that BSC(BEP20) network withdrawals are no longer free, we should all take note

The changes was done on BSC network in two different exchanges i am aware, both Binance and MEXC.

The fee is very low compared to other networks, 0.01$ as fee, -/100 before it kills 1$

Binance don't charge me withdrawal fee when sending USDT (TRC20), they cancel a $1 fee I'm supposed to pay , is it something generally done or specifically on my account?

[Nightwalker(NW)]

Like the title says, I observed that Binance has ended their free withdrawals through the BSC(BEP20) network. Although they are starting out very small with the fees and they may likely be increasing the it gradually over time. As at yesterday when I attempted sending USDT accross to another exchange for P2P, the fee was at 0.01 USDT which is still negligible.

I brought it here to inform everyone that BSC(BEP20) network withdrawals are no longer free, we should all take note

Sending to same binance exchange is still free, like binance user to binance user doesn't charge anything, but while send to an external address there is smaller fee which is not that high. I think this was how ethereum network started before they increase their fee and was something else, before BSC was introduced and lot project ran into this blockchain and dump ethereum due to their higher gas fee.
Just hope that the fee doesn't go above expected.

[uche6215]

Snip

Guy your pressure e dey high, abeg calm down, na tomorrow ur work dey start. But I dey see you for everywhere today. Lolz.
To di Op. I noticed am too. When I sent 100 dollar, dey charged me 0.15 dollar but before na free. Crypto space is getting more expenses and Frankly Speaking it is not good. People dey compared crypto transaction with fiat and we choose crypto but if na like this di matter dey go, I no know which one to support in term of transaction. And as Op tok Binance go increase their fee.

[Agbamoni]

Like the title says, I observed that Binance has ended their free withdrawals through the BSC(BEP20) network. Although they are starting out very small with the fees and they may likely be increasing the it gradually over time. As at yesterday when I attempted sending USDT accross to another exchange for P2P, the fee was at 0.01 USDT which is still negligible.



I brought it here to inform everyone that BSC(BEP20) network withdrawals are no longer free, we should all take note

They are not the only exchange that made changes to the BSC network fees. I also got a message from the MEXC exchange that fees will no longer be free. Anyway, I was hoping for a fee within or above $0.5 but it was even less than a cent. I feel the fees are still and everyone would surely choose the network over others due to the less fees.