Post
Topic
Board Bitcoin Discussion
Re: Exchanges are starting to reduce their bitcoin withdrawal fees at last
by
Red-Apple
on 02/03/2018, 12:35:58 UTC
It's still pretty high given that you can send transactions for a few cents, but it is a step in the right direction.

they will always have it higher than normal because they make profit on the difference even if it is little and also they don't have 1 input to pay you from. the transactions usually consist of multiple inputs which will increase the fee and depending on your withdrawal size it can be more.

i think the best way to set the withdrawal fees is a dynamic one though. for example when mempool is empty and you are withdrawal something they can pay with a small transaction size it should be a small fee and if you are withdrawing a big amoung like 50BTC and they have to use a lot of inputs you pay a higher fee or when the mempool is fuller.
that way they don't have to change it every time with a big delay like this!

ps. the site you have in your signature still charges outrageous withdrawal fees.