Avoiding high exchange withdrawal fees

[greenie]

I think one method i currently use is the use of converting the crypto currency to another one with low withdrawal fees because on binance exchange we usually have coins with low withdrawal fees and coin with high withdrawal fees , so the best thing i would first do is to convert at first then i am good to go because most coins with high withdrawal fees usually have high noticeable minnimum payout

 

[Grandeur]

Exchanges are a very good way in which to earn cryptocurrency. You are able to trade through an exchange in order to try and increase your profits, and what is more than that is that you are also able to get AirDrop as well that may be released on the exchange that you see, and later use that as a trading coin as well when it is released into the market.

However, many that use exchanges are surprised when it comes to withdrawing their funds and seeing that the withdrawal fee is very high, especially for Bitcoin. In fact there are some exchanges where the withdrawal fee for Bitcoin is actually in excess of twenty dollars, such as the one that I am using. So how do you avoid paying this?

What you do is that you convert your crytpo to another coin such as rippel or DGB. You then withdraw theose funds to the faucetpay accoutn, which will cost you a couple of cents in US dollar terms and then from there you can make the trade to bitcoin and withdraw the bitcoin. The withdrawal fee from faucetpya is much cheaper than some exvhanges. In my personal experience I prefer to withdraw a store my funds in terms of a coin such as the Litecoin, which has low transaction fees despite the exchange.

What method do you use to try and avoid high withdrawal fees from exchanges?

Many of the cryptocurrency exchange platform are aware of the high transaction fess and come up with in app sending which helps Sen money from the app user to another user of that same app which is a good technology.

 

[BrolySSJ]

Many of the cryptocurrency exchange platform are aware of the high transaction fess and come up with in app sending which helps Sen money from the app user to another user of that same app which is a good technology.

It is a very good way because then you don't have to be subject to the hgh transaction fees which i think is one of the major concerns that they have currently with cryptocurrency.

 

[Grandeur]

It is a very good way because then you don't have to be subject to the hgh transaction fees which i think is one of the major concerns that they have currently with cryptocurrency.

Honestly, have you ever come across such service? The most popular one right now is the binance pay where all you need is the persons binance Gmail account and you can send anything for free.

 

[Lens]

That's a wonderful idea . I have fallen victim of one sometimes ago when I try to transfer bitcoin from luno to roqque, I lost almost all my coin in the transaction fee. It was a very painful experience.

 

[Grandeur]

That's a wonderful idea . I have fallen victim of one sometimes ago when I try to transfer bitcoin from luno to roqque, I lost almost all my coin in the transaction fee. It was a very painful experience.

For such high transactions, it is most likely because you sent coins with large volume of transaction like Eth, btc so you can convert to a lower transaction coin like ltc next time

 

[Lens]

For such high transactions, it is most likely because you sent coins with large volume of transaction like Eth, btc so you can convert to a lower transaction coin like ltc next time

That was what I should have done in the first place. It was a very sad experience because the money I got is in no way compared to the amount I lost to the transaction fee. I learnt something very beneficial today.

 

[Blessedsam60]

Honestly, I don't know why Bitcoin, Ethereum and some other crytocurrencies withdrawal fee are very high. This was one of my first encounter when I started crytocurrency trading back then, I wanted to withdraw some Ethereum and got shocked that the fee was $11.

 

[Bousine123]

I realize that bitcoin and Ethereum are currencies with high transaction fees and in order to avoid that, people prefer to convert the two high valuable coins to other low coins that have low transaction's charges.

 

[Kaffyfolla]

I think the gas fees of broker different from one another so as for me Binance offers some of the lowest fees in the crypto exchange market, making it a favorite among traders. Here’s a quick rundown of some of the fees you might face

 

[Syldan]

I agree with your point of view concerning the exchange rate fees in the cryptocurrency operation. These exchange rate fees had been one of the problem of cryptocurrency exchange even though it depends on the various platforms which are used for the transaction.

 

[Skysaint]

I think this is a major problem with most exchange platforms and I really appreciate your writeup because I am yet to make withdrawals from these exchanges solely because of this. I mostly make use of the offline peer to peer method.

 

[Syldan]

Exchange is very good in every form of business which has to do with trading and other forms. That will helped you generate income from the transaction people can make.

 

[Monster Masterpiece]

Most of us don't need exchange as providers like Coinbase or Coinpayments provide pay in LTC and are debited in DASH or reverse operation so it is not required at certain steps.

 

[Lens]

As a crypto investors you will have to continually look into the transaction fes before you take any trade . It is very important so that you don't lose your profit to the transaction fee.

 

[Sincerem]

Not just in exchange as it is actually becoming quite alarming In terms of the bogus fees attached when trying to perform certain transaction as related to money. Even banks today put really high transaction fees on customers who wants to make use of their services.