Quote from: EarnOnVictor on June 04, 2024, 02:25:10 PM

Quote from: Laura2003 on May 31, 2024, 12:52:10 PM

i have some crypto on poloniex, i was looking to send some crypto i saw fees like:
btc:240$
usdc: 12$
dogecoin: 3.23$
shib: 6.26$

i am looking to send 5$ through crypto, is this normal these days?

What!!! This is insane and it better mean a different thing. Are you sure you checked this value very well and what they are meant for? Maybe you have mistaken them for the minimum amount that can be sent through certain means. However, if this is true, then you should know that it is extortion, and perhaps they do not want you to withdraw your money ever again.

I have never used the exchange and this thing we see simply like this may even play through with some customers who didn't know the fees chargeable but just made the transaction as fast as possible and were charged $240 for BTC transactions when the mempool is not congested.

This is inane and I hope it is not true. Why not trash it with the support to know if it is true or some sort of error, as I do not know how an exchange will compete with the prevailing market by discouraging customers and intending ones this way.

Withdrawal fee and transaction fee are different and every exchange has their own way of calculating withdrawal fee which will be way higher than the TX fee that we could pay using actual wallet instead of exchanges. And this is another reason why someone shouldn't use exchange as their wallet.

Besides there are some better exchange out there with cheap fee structure definitely a lot less than $200.