Let me explain in details maybe i can get a better answer
I learnt here that this bitcoin address 12NdNbkdSafXA5AupGn2xEBooYCdQCtP9U belongs to Binance and i want to send bitcoin to that address, so i have a binance account and when i go to withdraw and input the recipient address, it shows three network fee options to choose before sending
1. Binance Chain (BNB) When i choose this transfer network it says; The address does not match the currently selected network, it is recommended that you switch to another network.
2. Binance Smart Chain (BSC) When i choose this option it asks to confirm Yes/No if the platform or application you are withdrawing to supports the BSC network.
3. Bitcoin(BTC) Fees are high $32.31
1. The warning is given because you submitted an address that does not belong Binance Chain (BEP2).
2. Binance Smart Chain (BSC - BEP20): the message is clear and it warns you that if you send your bitcoin to an exchange that does not support BSC, you will lose your bitcoin. Binance won't be responsible for your loss after you read that message and click Send.
3. The withdrawal fee for Bitcoin on Bitcoin network is high because of two contributors
- The default withdrawal fee (in BTC) of bitcoin on Binance is very high: 0.0005
BTC for one withdrawal. If bitcoin has a price at $100,000 and Binance won't change that fee, you will be charged with $50 for one withdrawal.
- The network of bitcoin has more waiting transactions in mempool. The
Johoe's Bitcoin Mempool Statistics is a real-time website. It helps to customize your bitcoin transaction fee ONLY IF you use a non custodial wallet.
- On Binance and other centralized exchanges, they charge you a same fee no matter how bitcoin network is.