Post
Topic
Board Exchanges
Re: Binance withdrawal fees are too high, what do I do?
by
Faisal2202
on 22/12/2023, 10:05:15 UTC
Currently, the withdrawal fee are 0.0008 btc, which is too high. What sould I do? I can't leave my btc on Binance, feeling kind of unsafe.

Thank you!
We can't blame Binance for the high fee it is the network that is highly congested and the main reason is airdropped, I have seen some inscriptions on telegram channels that I have joined and they are sharing many airdrops where we might get an airdrop but to do that we have to inscribe something I don't know what but inscribe it in BTC blockchain and while doing that we might have to pay the fee and this is increasing the network traffic.

And in a result, the fees are increasing and this increment in fee is causing exchanges to increase the transaction fee, well, the amazing thing is the transaction fee would be way lower than the fee that you might be seeing on mempool or on any other noncustodial wallet like Electrum or Trust wallet. That's because Binance makes transactions in Batches and batches cost lesser fee.