YoBit's Withdraw fee is high.

[Whited35 15285]

On 5/11/2020 at 6:41 PM, melikf78 said:

every exchange has fee for withdrawal. yobit has different fee for each coin if btc withdrawal fee is too much for you you use another coin to withdraw.i usually use trx it has a about 0.15 cents fee.

True that. Generally most of the cryptocurrency exchange in this world charge the more amounts for withdrawing Bitcoin amounts from the exchange. If BTC has quite more fee for withdrawing, you might select the another currencies like ETH, XRP, LTC .

[Soaib khan 1035]

On 11/14/2019 at 3:20 PM, giash crypto said:

i totally agree with you. yobit should reduce withdraw fees. 500 doge is too much high. i hope they will take steps soon.

don't worry if you are facing this problem you can use other cryptocurrency for withdraw your money like ripple litecoin waves etc.in these cryptocurrency withdraw fee is very low 

[NevermindNe 549]

On 10.10.2019 at 17:25, CryptoZombie said:

I don't know if y'all are aware that the withdrawal fee for Yobit is 0.0012btc, that amounts to the earnings made after making 120 posts on this forum.

What are your views on this?

I am neutral about this, because I have never withdrawn money in bitcoin from the exchange , I just exchange Satoshi for coins with a minimum fee and withdraw them. 

[BTC Future 3946]

On 5/6/2020 at 7:43 PM, guatazoo said:

Of course maybe you are right thats the yobit are taking high fees for their own benefits, because any platform must be benefited also from what's people withdrawing.

No friend, yobit you haven't seen other exchanges that have way higher withdrawal fees even for XRP and other altcoins. Yobit has the correct fees. This is obviously now that a Bitcoin transcation in average costs $5 and this goes to the miners not to the exchange.

[Nab 263]

as we know the commission in BTC are always high in some exchanges,in yobit the commission for withdrawing in bitcoin is high so it is easier to trade our earned satoshis to another currency like dogeoin,litecoin or ethereum where the commissions are lower, one option is also to change the satoshis to fiat currency like usdt,usd or rubles.

[gourav789 2834]

withdraw fees is higher in Case of Bitcoin only , in other coins withdraw fees is normal . I also choose TRX coin for withdraw purpose because I see transcation fees in TRX is only 10 TRX . that's is normal , withdrawal fees in litecoin as well in xrp is really low .

[bitcoinb 1359]

4 hours ago, ethan1751 said:

LTC, am I the only one who can't withdraw?

What do you mean by "who can't withdraw"? The wallet is in maintenance mode. I withdrawn LTC for the last time few days ago without problem.

[guatazoo 7150]

16 hours ago, BTC Future said:

No friend, yobit you haven't seen other exchanges that have way higher withdrawal fees even for XRP and other altcoins. Yobit has the correct fees. This is obviously now that a Bitcoin transcation in average costs $5 and this goes to the miners not to the exchange.

But you cannot compare the yobit bitcoin withdrawal fees with other exchange withdrawal fees, because many exchange withdrawal fees ranging at 0.0002 btc up to 0.0006 btc, but yobit is 0.0012.

[BTC Future 3946]

6 hours ago, guatazoo said:

But you cannot compare the yobit bitcoin withdrawal fees with other exchange withdrawal fees, because many exchange withdrawal fees ranging at 0.0002 btc up to 0.0006 btc, but yobit is 0.0012.

0,0012 is too high indeed. Perhaps there is a reason for this, like to avoid people from withdrawing small amounts of Bitcoin and trade in the platform instead. I can't think of other reason right now. Still on other exchanges you will find it difficult even to switch to XRP without paying 2-3$ because there is no actual trade happening and the sell orders are 10% higher than the running price.

[Zaino34 0]

Bitcoin withdrawal fees are high, given that the bitcoin price is high, but you can avoid these high fees by exchanging bitcoin currencies with other currencies such as ethereum and then withdrawing them to your portfolio with a low transfer fee

[BitcryptoHan 2557]

3 hours ago, Zaino34 said:

Bitcoin withdrawal fees are high, given that the bitcoin price is high, but you can avoid these high fees by exchanging bitcoin currencies with other currencies such as ethereum and then withdrawing them to your portfolio with a low transfer fee

People should not be confused, it is bitcoin transaction fee that is high on yobit but other are not. Even, if you compare yobit bitcoin withdraw fee to other exchanges, it is still better and low in comparison. 

[guatazoo 7150]

20 hours ago, BTC Future said:

0,0012 is too high indeed. Perhaps there is a reason for this, like to avoid people from withdrawing small amounts of Bitcoin and trade in the platform instead. I can't think of other reason right now. Still on other exchanges you will find it difficult even to switch to XRP without paying 2-3$ because there is no actual trade happening and the sell orders are 10% higher than the running price.

I think its not like that to put high withdrawal fees because of avoiding people from making small withdraw, because if they don't want people to withdraw small amounts, they were supposed to to put the minimum withdraw.

So I think they use high withdrawing fees in order to confirm the transactions very faster and avoiding to be hacked the transactions. 

[Crypto123 0]

6 minutes ago, guatazoo said:

I think its not like that to put high withdrawal fees because of avoiding people from making small withdraw, because if they don't want people to withdraw small amounts, they were supposed to to put the minimum withdraw.

So I think they use high withdrawing fees in order to confirm the transactions very faster and avoiding to be hacked the transactions. 

Not all fees are high in Yobit, bitcoin fees are high but there are many other coins whose fees are low such as Ripple, LTC and TRX. In addition to many other currencies, this can be converted easily.

[BTC Future 3946]

3 hours ago, guatazoo said:

I think its not like that to put high withdrawal fees because of avoiding people from making small withdraw, because if they don't want people to withdraw small amounts, they were supposed to to put the minimum withdraw.

So I think they use high withdrawing fees in order to confirm the transactions very faster and avoiding to be hacked the transactions. 

It will sent the coins right away with this fee, still I haven't withdrawn with Bitcoin from yobit and don't have a transaction to view the fees. Probably it is like that. Still it will be up to the other service (wallet or exchange) you want to deposit this amount, on how many confirmations they accept. Most ask for 6 confirmations so the funds will get there after an hour no matter what. The higher fees will probably avoid much trouble though as you said.

[CryptoMaxim 3829]

On 10.10.2019 at 18:25, CryptoZombie said:

I don't know if y'all are aware that the withdrawal fee for Yobit is 0.0012btc, that amounts to the earnings made after making 120 posts on this forum.

What are your views on this?

I do not think that the Commission is large. You can simply choose a different withdrawal method or withdraw in another coin such as Litecoin after exchanging bitcoin for it.

[guatazoo 7150]

On 6/5/2020 at 7:33 PM, Crypto123 said:

Not all fees are high in Yobit, bitcoin fees are high but there are many other coins whose fees are low such as Ripple, LTC and TRX. In addition to many other currencies, this can be converted easily.

Sure the only bitcoin withdrawal fee from yobit is high and many people are fears on it including me, so I also always using the ltc to withdraw from yobit. 

[DreamStage 2105]

I am using XRP as the main currency for withdrawing any kind of bitcoin profits.

 

As mentioned btc's being 120.000 satoshis is way too high from my personal experience given the state that network fees are around 5.000 satoshis.

 

Therefore you could trade btc -> xrp and withdrawing - pay a fee of 0.5 xrp (if i recall correctly).

[BTC Future 3946]

On 6/7/2020 at 10:11 AM, DreamStage said:

Therefore you could trade btc -> xrp and withdrawing - pay a fee of 0.5 xrp (if i recall correctly).

Waves is even lower. It is less than a cent. Although last time I checked the trading pair with BTC had a bigger margin than I expected. You can place a buy order and wait for about an hour to get filled.

[Yomose 3704]

4 hours ago, JohanDonne said:

Yes it is very high but you are not bound to make withdrawal through btc only, you can trade it to any other currency and make withdrawal for example in Perfect Money dollars you need to pay 1% only as withdrawal fee, or 500 Dogecoin for Dogecoin withdrawal or 0.5 xrp per withdrawal. 

I do not think so, if you compare it with other exchanges, yobit withdrawal fee is not high, these fee are used to maintained their platform especially against hackers. 

[Jamaloo 192]

Between other trade for sure yobit is high. Yet, we realize that numerous individuals despite everything exchange on yobit and never mind with the charge. We can check in coinmarketcap that yobit in top 68 crypto trade in terms of professional career volume.

[iloveyobit 6599]

Conversely, the fees in Yobit are among the lowest in all trading, you can withdraw through many currencies and the fees will be almost completely nonexistent.

[Solex 2262]

There are a lot of coins which you can convert your coins into and they have lower fees compared to bitcoin they include ethereum, litecoin, and XRP, so you don't need to used bitcoin since there are other options which you can use to accomplish your transaction.

[Strygwyr 317]

It is true that some coins on yobit has high withdrawal fees, likr bicoin. Personally I do not want to pay s lot just to process withdrawals. So it is a big help to look for some alternatives for the transaction. Some coins also do have a little withdrawal fee, like XRP. So I suggest you to trade first your bitcoin to xrp then withdraw the xrp since is has a way lower fee. 

[Sruthi246 59]

I don't think so, but the fee for bitcoin is a little higher. I like many aspects of yobit but I don't like some aspects like bitcoin's fee. But all the currency prices are fine.

[Tunuu 2235]

This is true, the withdraw fee for yobit exchange in bitcoin is very high. But there is a way you can use to reduce the fee, just trade your bitcoins to altcoins and you will withdraw them for a very small fee.