Post
Topic
Board Gambling discussion
Re: is it normal for a btc book to have a withdrawal fee
by
Pettuh4
on 29/07/2017, 20:34:59 UTC
There is a fixed withdrawal fee of 0.006 at cloudbet. is this normal?

I haven't used cloudbet but it is normal for any gambling site or any exchange to have a fee to send funds to another address. It's just a standard practice that is due to the fact that it requires work for the miners to move the funds and they are supposed to get paid a little for moving the Bitcoins.

The thing that does vary I think is the amount of the fee. I think some sites and exchanges may charge a smaller fee than others. If you are moving a small amount and the fee is fixed, then it could be a lot of money relative the what you are moving.

Agreed but they could have variable fees where you can choose the amount that suites you best and the corresponding time it might get confirmed. It shouldn't be a law for everyone because not everyone considers 0.006 BTC a small fee.