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Author Topic: Bitcoin withdrawal fee on Bitstamp  (Read 5021 times)
YevaBoghos
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November 10, 2014, 07:44:24 AM
 #1

Hello everyone,

I'm looking for a exchange to BTC / USD daytrading, my shortlist is LakeBTC, Bitfinex, Bitstamp.

I have examined the former two exchanges, but there is a problem with Bitstamp, what's the BTC withdrawal fee?  Huh Anyone could tell me the truth? Thanks Firstly.
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mooncake
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November 10, 2014, 07:48:59 AM
 #2

0.
oda.krell
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November 10, 2014, 10:00:37 AM
 #3

I'm afraid the post above is wrong.

Withdrawal fee is about twice as high as what he wrote.




It's zero.

Not sure which Bitcoin wallet to use? I suggest to take a look at Electrum.
Electrum is an open-source lightweight client: user friendly, fast, and one of the safest ways to store, send or receive bitcoins.
For executables (Windows, OSX, Linux, Android), source code and documentation, see the Electrum homepage.
desticy
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November 10, 2014, 10:13:49 AM
 #4

I'm afraid the post above is wrong.

Withdrawal fee is about twice as high as what he wrote.




It's zero.
Don't kidding with him, twice is wrong, you need pay the network fee. ( Bitstamp will pay it for us? )

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oda.krell
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November 10, 2014, 10:51:39 AM
 #5

No, no network fee paid by users.

Bitstamp seems to bundle several withdrawal requests into one big transaction, to save on fees and not spam the network, I suppose.

Not sure which Bitcoin wallet to use? I suggest to take a look at Electrum.
Electrum is an open-source lightweight client: user friendly, fast, and one of the safest ways to store, send or receive bitcoins.
For executables (Windows, OSX, Linux, Android), source code and documentation, see the Electrum homepage.
titulng
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November 11, 2014, 05:03:19 AM
 #6

No, no network fee paid by users.

Bitstamp seems to bundle several withdrawal requests into one big transaction, to save on fees and not spam the network, I suppose.
If any period of time that no one withdraw Bitcoins, that need to wait a long time to join in with you?

HOLD your bitcoins.
oda.krell
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November 11, 2014, 12:32:09 PM
 #7

No, no network fee paid by users.

Bitstamp seems to bundle several withdrawal requests into one big transaction, to save on fees and not spam the network, I suppose.
If any period of time that no one withdraw Bitcoins, that need to wait a long time to join in with you?

Never happened to me so far. Either they always have enough people withdrawing, or eventually, they send it out alone anyway.

Note that large withdrawals (maybe 50, 100 btc) seem to be "manually" confirmed by someone at Bitstamp, but  even that never took longer than an hour or two for me. Smaller withdrawals go out within minutes in my experience.

Not sure which Bitcoin wallet to use? I suggest to take a look at Electrum.
Electrum is an open-source lightweight client: user friendly, fast, and one of the safest ways to store, send or receive bitcoins.
For executables (Windows, OSX, Linux, Android), source code and documentation, see the Electrum homepage.
YevaBoghos
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November 21, 2014, 02:18:13 AM
 #8

Thanks for your so patient explanation Smiley
hgmichna
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January 04, 2015, 06:36:08 PM
 #9

Note that large withdrawals (maybe 50, 100 btc) seem to be "manually" confirmed by someone at Bitstamp, but  even that never took longer than an hour or two for me. Smaller withdrawals go out within minutes in my experience.

I tried to withdraw BTC 70 from Bitstamp one hour ago and still see no transaction. But then you said, "an hour or two", so I am still within that range.

But an hour or two is far too long for anything as volatile as bitcoin. Two hours can be expensive. I think I will have to move to another exchange. Bitcoin withdrawals on BTC-e are instantaneous, as far as I know.
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January 04, 2015, 06:57:47 PM
 #10

Note that large withdrawals (maybe 50, 100 btc) seem to be "manually" confirmed by someone at Bitstamp, but  even that never took longer than an hour or two for me. Smaller withdrawals go out within minutes in my experience.

I tried to withdraw BTC 70 from Bitstamp one hour ago and still see no transaction. But then you said, "an hour or two", so I am still within that range.

But an hour or two is far too long for anything as volatile as bitcoin. Two hours can be expensive. I think I will have to move to another exchange. Bitcoin withdrawals on BTC-e are instantaneous, as far as I know.
At the current price and the market manipulation going on, you should probably be buying and not selling. I hope that is what you're doing.

.







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hgmichna
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January 04, 2015, 07:02:29 PM
 #11

At the current price and the market manipulation going on, you should probably be buying and not selling. I hope that is what you're doing.

This is an entirely different question. Anyway, I have bought BTC 70.

But do not delude yourself that you can foresee the short-term future price of bitcoin. If you could, you probably would have better things to do instead of posting here. Smiley

Back to the original topic: still no transaction after 90 minutes.
oda.krell
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January 04, 2015, 08:12:43 PM
 #12

At the current price and the market manipulation going on, you should probably be buying and not selling. I hope that is what you're doing.

This is an entirely different question. Anyway, I have bought BTC 70.

But do not delude yourself that you can foresee the short-term future price of bitcoin. If you could, you probably would have better things to do instead of posting here. Smiley

Back to the original topic: still no transaction after 90 minutes.

You understood that I was speculating myself, right? I don't work for Bitstamp.

Like I said, I believe larger withdrawals have to be confirmed manually. Depending on the time of the day you request it, it might take until the next working day for that to happen, although, I never had to wait that long.

If 90 minutes withdrawal time from an exchange is too much hassle for you, I suggest you don't leave your coins on the exchange in the first place. The blockchain is fast, human supervision & security, less so.

Not sure which Bitcoin wallet to use? I suggest to take a look at Electrum.
Electrum is an open-source lightweight client: user friendly, fast, and one of the safest ways to store, send or receive bitcoins.
For executables (Windows, OSX, Linux, Android), source code and documentation, see the Electrum homepage.
hgmichna
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January 04, 2015, 09:43:58 PM
 #13

Warning: Bitstamp delays bitcoin withdrawals. I am still waiting after 4 hours. Since the bitcoin price has a high volatility, this is a terrible problem.

A bitcoin transmission should be, and is on other exchanges, an automated and instantaneous process.

As everybody here should know, a bitcoin transfer does not need human supervision and human supervision does not make it safer.

The last time I have experienced bitcoin payout delays was on Mt. Gox, and I hope you all remember how that ended.

If the price keeps going down then the effect is as if they stole thousands of $$ from me and threw them to the dogs. This is painful for me. I cannot afford to waste money that way.

At least now everybody who reads this knows that Bitstamp delays bitcoin transfers by hours or perhaps days. You have been warned.
picolo
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January 04, 2015, 10:04:29 PM
 #14

Warning: Bitstamp delays bitcoin withdrawals. I am still waiting after 4 hours. Since the bitcoin price has a high volatility, this is a terrible problem.

A bitcoin transmission should be, and is on other exchanges, an automated and instantaneous process.

As everybody here should know, a bitcoin transfer does not need human supervision and human supervision does not make it safer.

The last time I have experienced bitcoin payout delays was on Mt. Gox, and I hope you all remember how that ended.

If the price keeps going down then the effect is as if they stole thousands of $$ from me and threw them to the dogs. This is painful for me. I cannot afford to waste money that way.

At least now everybody who reads this knows that Bitstamp delays bitcoin transfers by hours or perhaps days. You have been warned.

Are you sure your confirm by email?

BitCoinNutJob
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January 04, 2015, 10:12:40 PM
 #15

Warning: Bitstamp delays bitcoin withdrawals. I am still waiting after 4 hours. Since the bitcoin price has a high volatility, this is a terrible problem.


Its a real problem for sure but i dont think any of the exchanges guarantee instant withdraw even though most of the time they are instant. 
hgmichna
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January 04, 2015, 10:13:13 PM
 #16

Are you sure your confirm by email?

Yes, perfectly sure. The email request and the email confirmation are shown in the history on the Bitstamp web site.

My only hope is that they indeed run the exchange manually and will do the transfer on Monday.
hgmichna
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January 04, 2015, 10:18:26 PM
 #17

Warning: Bitstamp delays bitcoin withdrawals. I am still waiting after 4 hours. Since the bitcoin price has a high volatility, this is a terrible problem.


Its a real problem for sure but i dont think any of the exchanges guarantee instant withdraw even though most of the time they are instant. 

BTC-e has instantaneous bitcoin withdrawals. And I have difficulties to imagine that big exchanges, like BTC China, are run manually. But who knows—there are many Chinese. Smiley
justforbtc
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January 05, 2015, 12:10:55 AM
 #18

Warning: Bitstamp delays bitcoin withdrawals. I am still waiting after 4 hours. Since the bitcoin price has a high volatility, this is a terrible problem.

A bitcoin transmission should be, and is on other exchanges, an automated and instantaneous process.

As everybody here should know, a bitcoin transfer does not need human supervision and human supervision does not make it safer.

The last time I have experienced bitcoin payout delays was on Mt. Gox, and I hope you all remember how that ended.

If the price keeps going down then the effect is as if they stole thousands of $$ from me and threw them to the dogs. This is painful for me. I cannot afford to waste money that way.

At least now everybody who reads this knows that Bitstamp delays bitcoin transfers by hours or perhaps days. You have been warned.

My bitcoin withdrawals from Bistamp has not been processed for 14 hours....

Bitstamp usually processes bitcoin withdrawals within 10 minutes...
johnyj
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January 05, 2015, 12:25:25 AM
 #19

I guess their hot wallet is emptied now. This is the time when many brokers withdraw large amount of bitcoin from exchanges because of suddenly increased purchase from everywhere due to price crash

This again proved that a centralized exchange is not reliable, all you see in your account there is just some numbers in a database, your coin might not be there

Mieehayii
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January 05, 2015, 02:55:06 AM
 #20

Note that large withdrawals (maybe 50, 100 btc) seem to be "manually" confirmed by someone at Bitstamp, but  even that never took longer than an hour or two for me. Smaller withdrawals go out within minutes in my experience.

I tried to withdraw BTC 70 from Bitstamp one hour ago and still see no transaction. But then you said, "an hour or two", so I am still within that range.

But an hour or two is far too long for anything as volatile as bitcoin. Two hours can be expensive. I think I will have to move to another exchange. Bitcoin withdrawals on BTC-e are instantaneous, as far as I know.

as long as you can endrue the ridiculous fee of btc-e

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