Post
Topic
Board Bitcoin Discussion
Re: My Bitcoin Investment and Why Are Bitcoin Withdrawal Fees So High?
by
krishnaverma
on 13/11/2023, 10:06:25 UTC
First of all, many thanks to the founder of this forum. I got ideas about bitcoin and bitcointalk forum by watching YouTube videos, I registered account in this forum to know bitcoin better and by studying daily regularly I was able to get better idea about bitcoin today. I had a hard time with one thing at first, because I live in a country where Bitcoin is still illegal, I didn't get any idea about Bitcoin from anyone. I am currently 30 years old, if someone had given me an idea about Bitcoin before 2010 or 2020, I would have made a lot of money investing in Bitcoin today. Luckily I came to know about Bitcoin 2 months ago by watching a youtube video. If I hadn't seen this YouTube video, I still wouldn't have got the idea about bitcoin. When I got the idea about bitcoin, the price of bitcoin was 25k to 26k. If I had invested in Bitcoin when it was 26k, I would have made a lot of profit today. I did not invest at that time as I did not have a good understanding of Bitcoin. Inflation in our country is increasing day by day. I didn't put all the savings I had in the bank, I bought land a few days ago for $10000. I still have $5000 in savings I bought bitcoin yesterday for $1000. I have another $4000, I will buy $100 worth of bitcoin every 15 days.

The only reason I am posting this today is that I bought bitcoins from kucoin exchanger. I learned bitcoins are not secure in bitcoin exchangers. I chose a hardware wallet. Now my problem is that when I try to transfer bitcoins to hardware wallet, I see a fee of 0.0005 bitcoins, what is the reason for the high fee? A few days ago, it seems that it was 1-2 dollars. Fee will not be reduced? If the fee is not reduced then I will withdraw with this fee.


Some exchanges have fixed fee which might be high. In future, choose exchanges with less fees. You can find list of such exchanges online.