Quote from: Lucius on Today at 09:22:42 AM

I understand that this is cruel capitalism where everyone takes advantage of the other to the extreme, but I still think it is very unfair to have such a large withdrawal fee for BTC. However, users may start using other crypto exchanges now that Binance has KYC for all users - which was not the case until recently.

I don't like it either, but all I can do is not use Binance. I doubt that will have a significant effect on their business profits though. Binance is just one of many exchanges that have either incorporated KYC/AML regulations or will do so in the future due to pressure from regulators (the same reason Binance is doing it).

Quote from: KingsDen on Today at 09:55:42 AM

The transaction fee is a reward to miners as I was told.

It is when you send bitcoin to someone else from your private wallet. When you withdraw coins from a centralized exchange or a casino, only a small part of what you pay goes to the miners. The exchange pockets most of it. The fees Binance takes are around $22 equivalent in BTC for Bitcoin withdrawals. The high priority fee on Mempool.space right now is 2 Sat/vB ~ $0.12. Binance will pay more than that, but even if they paid $2, you can see how much they pocket themselves and how much is given to the miners.