Post
Topic
Board Altcoin Discussion
Re: btc alternatives to use when withdrawing from the exchange
by
posi
on 23/09/2022, 14:45:24 UTC
I have seen several videos that recommend not to use a stablecoin when withdrawing from exchanges because of the commissions. In one video it was recommended to use litecoin and in the other video they recommended algorand.... Do you think these 2 coins are the best options to use when withdrawing?

Is it good to take the risk? I once withdrew using litecoin and the transfer from an exchange took 30 minutes...in that time you can't put a stop loss so if there is a market crash I would lose a lot of money....

I also tried to withdraw less than $10 on bybit and binance and the exchanges would not allow me to withdraw...I think I saw a video a while back where they recommended withdrawing $1 first to test (to make sure I choose the right network etc). The other day I tried to withdraw 4 dollars with bybit and binance and I got the message: the withdrawal is less than the minimum allowed.


Every exchange has withdrawal and deposit limits, you should read all of them carefully before making a trade, if wrong you will lose them and get no help from the exchange. To be safe and avoid paying high fees for withdrawals as well as the risk of price fluctuations while waiting for withdrawal confirmation, you should choose USDT or stable coins.

I don't remember the exact withdrawal limit or withdrawal fee of other coins but for stable coins it is usually fixed at 1USDT for Tron network or other networks except ETH network. This is a normal fee that is not high.