The withdrawal fees were changed from 0 to 0.2 a month ago for the withdrawal of USDT as TRC20. I went with withdrawing some USDT from binance to Kucoin to buy some velo but the withdrawal fees taken were $1. It's absurd how much binance is charging for withdrawal when the fees from blockchain are most probably free for binance as they are super representative on tron blockchain.
I use binance for it's cheaper transaction fees but these these unnecessary withdrawal fees are going to be a push factor as newer exchanges too are coming with aggressive promotions.
Your finding is right. Binance increase their withdrawal fee for USDT on all chains, not only increase on TRC-20 chain.I use binance for it's cheaper transaction fees but these these unnecessary withdrawal fees are going to be a push factor as newer exchanges too are coming with aggressive promotions.
The USDT withdrawal fee is:
- BEP2: $1
- BSC: $0.8
- ERC20: $20
- TRC20: $1
- OMNI layer: disabled.
When fee on TRC20 is $0.2, fee on BSC is $0.1
Binance Adjusts Withdrawal Fees for BUSD and USDT on Selected Networks. I can not find their news for the newest adjustment on withdrawal fee.
That's the strategy. Binance wants to move as most transactions as possible to their own chain. So they increase the fees for all other chains to reach this goal. One cannot blame Binance for this. They are only pursuing their own business interests. Everyone is free to use a different exchange.