Post
Topic
Board Bitcoin Discussion
Re: Exchanges are starting to reduce their bitcoin withdrawal fees at last
by
TheQuin
on 02/03/2018, 12:19:31 UTC
Do you happen to know which exchanges have the lowest withdrawal fee? I think I'm going to switch to another one.

It really changes all the time so you need to have a look around and do a comparison from time to time. Some are using dynamic fees that change from day to day.

From the ones I have tried Binance is the cheapest on withdrawls. Others like bitfinex are whale only clubs where you need to deposit 10k USD at least.
To me despite their issues recently Binance remains on top by far.

The 10k limit is for new accounts, they have many customers that are not whales but have had an account for some time. Now the that 'gold rush' of the end of last year is over they may well remove that restriction again.

Bitfinex have also responded and lowered their fees:

https://verifiedtopics.com/bitfinex-decrease-btc-withdrawal-fees/

Quote
Since SegWit adoption we have managed to decrease our BTC withdrawal fees by 25%, to 0.0006 BTC.

It's higher than the rest, but still, it's progress.

It's not actually as it's dynamic. I'm logged in right now and it is 0.0004BTC. That announcement means they changed the formula to be 25% lower when they started using Segwit.