Why Is Bitcoin Withdrawal Fee High In Every Exchange Platform?

[Bohana 2143]

Hello my friends. 

I was wondering about this. Why does Bitcoin have big withdrawal fees unlike every other coin?

For example, BTC withdrawal on Yobit platform is 0.0012 BTC, whereas Litecoin withdrawal fee is 0.002 LTC!

Any ideas why?

[guatazoo 7150]

I think that's is bitcoin blocks its too hard to be mined while miners are confirming transactions, so that they took high fees in bitcoin, maybe it paid or devided to many miners.

[Maroua 1159]

I think the matter is very clear because the price of bitcoin is higher than this currency that I mentioned, the higher the price of the cryptocurrency, the higher the price of withdrawals, a very natural thing for this. You have to withdraw once a month and do not withdraw every day, so this loss becomes greater than profit.

[Ch Ayyan 9781]

I think  withdrawal  fee of these coins is high  because  these are top coins and mostly  pee invest in these coins  and profit is also high from  these coins to us.

[Dmasked 1840]

One reason is due to its high price the fees is also high and the other reason is to reward the miners. It is very costly and difficult to mine bitcoin so to reward miners they charge high transaction and withdrawal fees. Just exchange your bitcoin to usd or other crypto to withdraw at lower costs.

[malik6314193 5449]

I am also wounder about that. Why it have so much high fee. If you withdraw you bitcoin then you have to oay about 5 dollar per transaction and other side if you withdraw in ltc then you have to pay jist 0.08 dollar. 

[guatazoo 7150]

45 minutes ago, nayon89 said:

Actually i don't know about this. But as btc rate is so high. So it might be the reason of this high fee. I am not sure though. But it can be a reason. Thanks for your post.

The principal is that if the bitcoin price is high, the transactions fees must be low, so your reason could not be true in my opinion, or whatever you can also be right.

[Omar Ommeish 4872]

Withdrawal fees are high in bitcoin because it is one of the most used currencies, and its price is very high, but you can transfer other currencies. Withdrawals fees are lower.

[yato987 2811]

4 hours ago, Bohana said:

Hello my friends. 

I was wondering about this. Why does Bitcoin have big withdrawal fees unlike every other coin?

For example, BTC withdrawal on Yobit platform is 0.0012 BTC, whereas Litecoin withdrawal fee is 0.002 LTC!

Any ideas why?

yes my friend , bitcoin has a very expensive fee compared with other coins because it is the most popular and strongest crypto coin between them so they want to get benfits from everyone's earning

[Yunusalemu 0]

yeah i also have noticed that very issue for so lon now, I this very reason had discouraged me from withdrawing my earnings from the yobit exchange site till i later found a way to reduce the transaction fee down to abou zero transactions fee cost, and i made my first withdrawal 

[Zaino34 0]

 Bitcoin withdrawal fees are high, my friend, because the bitcoin price is high compared to the rest of the currencies, which is why the fees are high, but the fees for withdrawing the other currencies are low because the price is low as well.

[bantrau817 13]

I think that's is bitcin blocks its too solid to be mined while miners are confirming transactions, capably they took high fees in bitoin, afford it paid or devied to universal miners

[Bohana 2143]

35 minutes ago, rounack said:

Bitcoin price is also high,fo make transactions fast and successful we need to pay miners.as the coin is well known and there are high demand of these transactions we need to pay some more to get better transaction results

I think that's the exact reason. Exchanges sites like Yobit platform has 0.0012 BTC for example. Some of this fee is paid to the miners, the other half is for Yobit as their earnings. 

[Raqeebzy 6456]

It should be high more than any other cryptocurrency because it is the most valuable of them and trading in them is lot expensive than other small valued coins. That's is what I think though. 

[Nezar 7169]

Bitcoin withdrawal fees are always made high because the price is so high and they can even make members work and carry out trades against other currencies to reduce withdrawal fees

[Moaz 7239]

I think it is clear that all platforms are seeking to keep Bitcoin coin because it is the first currency in the cryptocurrency and is the strongest so far, and therefore these platforms impose very high fees on any Bitcoin withdrawal.

[IamLeader12 682]

The fee is high because bitcoin is the most popular coin, and because It has a high price. The lower the price of a coin, the lower its transfer fees will be.

[George10 9932]

8 hours ago, Bohana said:

Hello my friends. 

I was wondering about this. Why does Bitcoin have big withdrawal fees unlike every other coin?

For example, BTC withdrawal on Yobit platform is 0.0012 BTC, whereas Litecoin withdrawal fee is 0.002 LTC!

Any ideas why?

I think the reason why bitcoin fees are high in most exchange sites it's because they want transactions to be confirmed quickly on blockchain and most of the times that's where they are also earning from.

[Raven 7817]

15 hours ago, Bohana said:

Hello my friends. 

I was wondering about this. Why does Bitcoin have big withdrawal fees unlike every other coin?

For example, BTC withdrawal on Yobit platform is 0.0012 BTC, whereas Litecoin withdrawal fee is 0.002 LTC!

Any ideas why?

I don't know, i think because of the supply and demand in bitcoin that's why the withdrawal fee is also increased. It depends on the price of bitcoin i think, if the price is high the withdrawal fee is also high. 

[Honny143 13612]

Every exchange takes high fees when we withdrawl bitcoin, because bitcoin is very expensive coin and its mining prices also high to compared other coins, so most of exchange take high percentage of fees, but we use other altcoins to this withdrawl process.

[rianpedia 816]

Of course it's different, bitcoin is the most expensive coin. because the withdrawal fee is also quite expensive. For certain reasons, I don't know why yet, but each coin is different depending on market prices and trading volume there.

[Ridam 7455]

It's very good topic to discuss about, in my view the Bitcoin is top coin and another thing is  it's block and  in mining difficulty is increasing day by day. And the exchange wants people todo  trade to withdraw the money so that they get little benefits if everyone did it then the profit is huge.

[BitcryptoHan 2557]

There is just one reason for that, it is because the number of people using bitcoin for transaction are too many and results to increase fee for nothing transactions. 

[kadayakito 765]

I have never extracted real bitcoin from yobit, I use yobit a lot, I have to convert it to litecoin or ripple to save money. Perhaps because it is the most valuable, the most sought-after and the transactions or investments with it are also large, raising the bitcoin fee is also understandable.

[Fattkidd 1852]

If your reffering to yobit withdrawal fees then yes it is high but they process withdrawal in instant,If you want to withdrawal your earning in much lower fee try using Xrp. The withdrawal fee for. XRP is only 0.5 XRP  which is very cheap than bitcoin.