Quote from: alyssa85 on January 22, 2020, 12:00:23 PM

Quote from: Byakuga on January 21, 2020, 03:14:59 PM

How many exchanges you know of that have too high withdrawal fee? I was shocked that Dcoin exchange wants 0.001 for any bitcoin withdrawal you want to make while other exchanges charges only 5000 Satoshi for bitcoin withdrawal, I was forces to exchange my bitcoin for litecoin before getting my coins out

In my experience (having been in the cryptocurrency space since 2013), when an exchange raises it's withdrawal fees, it does so to deter people from withdrawals. Why are they doing this? Usually because they've lost coins.

We saw this with Cryptsy, Vircurex and many others. They didn't tell people they lost coins, they just raised withdrawal fees to try to deter withdrawals and hoped to make up the losses through trading fees.

So my advice here is that this is a red flag, take your coins out and use an exchange with lower wit5hdrawal fees.

But there is one way to go around with high btc withdrawal fees, one way is to change it to another altcoin like doge and send it exchanges with lower btc withdrawal fees. If an exchange is charging 100-150k satoshis, sometimes simple exchange it to other alts will save you few bucks. However, it doesn't work all the time especially if the price of the alt to your target transfer exchange is lower, so you will sell it at a loss and will end up at loss. So you need to assess the overall fees if it is really worth transferring or not or just pay for their required fees. It is not that they do deter people from withdrawals but this is a nice generating income on their end.