Post
Topic
Board Bitcoin Discussion
Re: My Bitcoin Investment and Why Are Bitcoin Withdrawal Fees So High?
by
Shishir99
on 13/11/2023, 14:05:46 UTC
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.

First of all, welcome to this forum. I hope this is not another made-up story. Recently, Poker Player created a thread asking for a board for made-up stories only. Anyways, Kucoin has had this fixed withdrawal for a long time. I don't know for how long, but usually CEX withdrawal fees are fixed no matter how much you withdraw from there. So this 0.0005 BTC is fixed. There is no way to decrease it. But once you transfer it to your wallet, you will be able to control your Bitcoin. You can control how much you want to pay as fees. I use Electrum as a daily wallet and for storing Bitcoin too.