Withdraw fees

[Hatred 1388]

3 minutes ago, Yomose said:

Do not get it wrong at all. For example, ripple is at $0.2, what if price fee increase to $0.25. Normally, the ripple withdrawal fee is constant but the price makes it to be not constant. I hope younger this rightly now. 

I know that xrp price fee is not constant, hehehe. I am just talking about what I see or experience in yobit. Base on what I said before, I didn't see any price increase in fee in the yobit exchange. I repeat, only in the yobit exchange. Anyway, thanks for correcting me by the way.

 

[Roan 2166]

My friend, the withdrawal fees mainly depend on the value of the digital currency

For example, higher cryptocurrencies have high withdrawal fees

As for the lower currencies, they have low withdrawal fees

[percare 3192]

Withdrawal fees have not to do with the price of bitcoin but it is the exchange that asks for fees to pay the miner fees and they also keep something for their services too. If you don't use the exchange and try to transfer a coin to another wallet you pay the miner fees.

[yonkii 3205]

From what I understand by your question the fees are always fixed as you say that it is like this:

On 5/24/2020 at 11:39 AM, Fzack said:

LTC (withdraw fee 0.002) TRX ( withdraw fees 10 cents) waves ( withdraw fee 0.002) 

If it was not saying the exact number of withdrawl fees but it depended on how many coins you withdraw it would have percentages and not exactly how much you would pay. This happens with some investment websites and you did good to ask because sometimes they have fees in percentage and other times fixed.

[Fixfin 2569]

This is what we do when we want to use another exchange for any reason. To switch exchanges we don't withdraw in bitcoin and pay 5-10 dolalrs in fees but we use other coins that have very low fees to withdraw. Each exchange has different fees  but most have low fees on Ripple, Tron, Doge, Waves and more altcoins.

[benalmoh88 1500]

i think that every coin have own fees, and it changing by his price, i'm like to withdraw my coins between exchanges by using DGB, and if i want to sell my coins with cash money i'm using USDT.

[Zafarwaheed 0]

From my point of view the price of withdraw fee depends on the  price of coins . The higher value coin have high fee and low value coins have low value.

[bitcoin-shark 1928]

obviously the yobit withdraw fee depends on the altcoin you are trying to recover, almost all the fees are average with the exception of that for bitcoin which is exaggeratedly high, so it is better to change first into an altcoin with low fees such as doge, trx or xrp, withdraw and then exchange again

[cryptovlek 2597]

Thanks for this and it is something we all learn after a while, I also transfered the first time bitcoin between exchanes and paid large fees for this but after seeking how to lower fees I found that all exchange has less fees for some coins that is better to use when withdraw.

[percare 3192]

On 9/15/2020 at 12:35 PM, Madhuri roy said:

Bitcoin is more valuable than other currencies. The higher the value of the currency, the higher the withdrawal fee. The lower the value of the currency, the lower the withdrawal fee. And for this reason, the withdrawal fee of Bitcoin is higher than that of the currency.

This is not correct. The value of a coin is not related to the fees and not the opposite either. The fees have to do if many are using the coin and making transactions by using higher fees to be first above the rest. These are the fees that each coin has that pay the miners. The exchange fees are changing too and for example Binance raised their fees for withdraw ethereum lately because they are very high for many months.

Edited September 16, 2020 by percare

[Mella 3680]

I am not transfer a lot and leave the coins on exchange to trade with them but it is nice to know that there are ways to make the fees lower and I will use this advice you given us if there is a time that comes when I will want to withdraw from the yobit exchange to another or a wallet, but as a trader I am more interest to make more for now and stay on the yobit.

[RingOfSaturn 34]

The Litecoin structure assumes a normal transaction pool and prioritization by fee size. The fee is calculated depending on the size of the transaction, at $0.03 per 1 KB of information. The transaction is considered confirmed not after it enters the block, but after registering the next 6 blocks without it. Such a mechanism prevents the user from conducting a single transaction several times, which can happen due to the short time of the block. So regardless of the size of the commission, the transfer will go at least 5 minutes. The average transaction for the last month is $0.3.

[dimmix_ua 81]

On 24.05.2020 at 11:39, Fzack said:

I found that certain coins have low withdraw fees for example LTC (withdraw fee 0.002) likewise TRX ( withdraw fees 10 cents) waves ( withdraw fee 0.002) 

What i actually wanted to know is does these withdraw fee also fluctuates as the value of btc does or it is just constant as it is?

 

Please react♥️ and motivate to make more topics.

 

Yes, withdrawing of some tokens are much less expensive. For example, it is better to withdraw ltc than btc. Anyway it can be done so easy on Yobit

[rakimus 58]

Low fees is a business strategy practiced by many platforms in order to attract as many clinets as possible. Also this strategy is profitable in the long term.

[LocusW 38]

Yes, it is evident that as the price of the currency rises, the transfer fees will be higher, for miners that is their profit, they need you to put a high fee even for them to take your transfer into account and validate it on time. The LTC fee is very low, but analyze its price as well. So I recommend that when you need to send BTC you convert them to LTC or another low-cost currency and send them like that, this will be much faster. The BTC fees are that high sometimes also when the blockchain is very congested because if you want your transaction to be approved, send a high fee, the miners will put it in the next block of BTC.

[Lenard 89]

Each exchanger has its own withdrawal fees, the ones that have been cheaper for me are in binance an OKEx, of course you must consider the type of currency you are going to withdraw since for  each currency it is a different trip, in my case I always withdraw in Ripple, Tron and Litecoin their rates are very low, try and tell me how it goes.

[mariag921 26]

Fees fluctuate according to what the mining fee is. Exchanges usually ask for more though, probably as the exchange fee to execute the transcaction. BTC fees do not have to do with other coins. It's up to the miners of each coin and the exchanges.

[irisebrachog 65]

Honestly, I'm not sure if it's a fixed amount, but I think it depends on the amount of the currency you're going to withdraw, I check first with several currencies to see which is more feasible at the time of sending. Usually I use LTC, TRX or DOGE, are the most used when making withdrawals, we will continue to learn in this forum of the topic 

[Javier Alvarez 111]

The most recommended way to save and not lose so much money in fees would be sending from Litecoin (LTC) or DogeCoin (DOGE) since their rates are very low in my opinion that I have been doing it that way, it will depend on you if they implement that same method

[cryptouser1 71]

In faucetpay the tron fees are low. The bitcoin fee is a bit high. The amounts of the commission or mining fee can increase or decrease based on the state of the network.

[Jamillove2580 115]

If you want to withdraw money from your internet then you must withdraw free.  Because from here they can earn a lot of money.  So Tarak leaves some money.

[invertirencripto 109]

There is a huge difference in withdrawal fees for BTC and ETH compared to other currencies like XRP or TRX. The differences in commissions can reach 100x

[Teofilo Leandro ynca 64]

the withdrawal fee depends on the cryptocurrency or token that you want to withdraw with that fee, they pay the miners so that your shipment is faster

[KainVrn 88]

Hey. as far as I know the commission is all hesitant. It depends on the exchange, billing and many other factors. BTC has one of the highest commissions.

[prabesh2058 171]

The withdrawal fees depends upon the mining difficulty.Those fees are paid to miners to verify the trasaction and when their prices are high then their demand is obviously high.So that their fees also increases. There are few coins like litecoin xrp having low withdrawal fees.