Why Is Bitcoin Withdrawal Fee High In Every Exchange Platform?

[Lenard 89]

This is due to the type of network you are going to use to get your btc from that platform, as you should know, the bitcoin network is very safe but it is very slow for transacctions, several confirmations are needed and it takes 10 minutes for this transacction, as custumers increase, increase the transfer traffic and causes a stagnation, therefore they charge you higher rate.

[Oxygen99 1930]

I think the major reason why bitcoin transaction fees is more higher compared to other coins is that bitcoin is the most popular and expensive Cryptocurrency in the market today for that reason the miners charge 0.0012 for every transaction before it can be accomplished in every exchanger you visit and since the fee is too high i prefer converting into the likes of litecoin, ethereum or xrp which have lessser fee compared to bitcoin.

[Russel 017 506]

The price of the bitcoin is higher in the currencies. We know that the withdrawal fee of bitcoin is high because, the bitcoin is higher and for this thr withdrawal fee is higher

[komtak 584]

yes bitcoin withdrawal fees may be very high in all exchanges. the primary reason for this taking place is the blockchain because transaction relies upon on blockchain and all of us understand how a whole lot visitors is bitcoin as well as bitcoin blockchain operating in old set of rules.

[CarlDash 49]

 

I have spent a lot of time researching this specific question, I understand that its high retirement costs are due to its great value in the market.

How difficult and expensive it is to create the Bitcoin blocks has an impact.

Your supply and demand is another common factor.



I recommend exchanging for other currencies with lower withdrawal costs.

[Onden 2098]

I think the withdrawal fee depends on the price of each coin, if the coin has a high price then the withdrawal fee is also much higher. Vice versa, if the coin price is cheap, the withdrawal fee is also cheaper. That's just my opinion because I noticed when withdrawing ETH, a few months ago withdrawing ETH on yobit was cheaper than now, maybe because the price of ETH has now doubled.

[Isabel2310 54]

well, in my opinion, bitcoin has those fees for being the cryptocurrency with the highest value.

[Burbuja12 55]

the higher the price of the cryptocurrency, the higher the price of withdrawals is like a rule for this. Also the withdrawal fees are high in bitcoin because it is one of the most used currencies, but what you can do is switch to other currencies and the withdrawal fees are lower. it is an option!
 

[salah85 38]

Withdrawal fees are very much depending on the exchange, but transaction fees are always ... peer trading markets are a relatively new development in the Bitcoin world.

[Berenice Pereira 41]

The bitcoin being a reference, wallets or funds must take advantage of their earnings with interest rates, to avoid this we can look for a currency in full growth
 

[hasaan 289]

We all know that the btc fess like transfer and any others transaction is much higher than the others coins cause the price of the btc is much higher than the others coins. That's why whose who deal with the small amount of btc then they convert the bct into ltc.

[Nicole018 4548]

I think it is because Bitcoins have more value and demand compared to litecoin. This way more fees needs to be incurred while converting Bitcoins into money. Where as litecoins have comparatively low price and low value hence low fees is incurred while converting litecoins into money. so it would be more profitable if you convert satoshis into litecoins and then into money.

[VijithaVarghese 1994]

There are lots of people using bitcoin transactions which can lead to increase in fee. Me personally have never used bitcoin conversation or rippling of money.Bitcoin is generally expensive and the price is high. They also process high withdrawal fees. Always take opinions of experienced people so that you can choose the best ways.

[fuck123 184]

I think the market value of Bitcoin is much higher and the price is much higher I think the market value of Bitcoin is much higher and the price is much higher

[Jack764 1841]

I do not know the true reason behind the high fees for withdrawing Bitcoin in all wallets and platforms, not just Yobit.  But I think that the reason is that the platforms prefer to have the largest possible amount of bitcoin in user accounts because bitcoin is the basis for trading and investing in every platform, and therefore the platforms raise the fees for withdrawing bitcoin in order not to withdraw one of his money through Bitcoin.

[No_Regrets 29]

I think bitcoin is popular and mining is more difficult ,security is higher than another crypto ,that is why. 

[TimopheyKa 3900]

Initially, Satoshi Nakamoto, the developer of BTC, wanted to create a type of simple payments that would be available to everyone. And so it was until bitcoin gained popularity.

 

The more transactions, the higher the load on the network. Bitcoin has not solved the scalability problem, so now the average time to confirm a paid transaction is 8-12 minutes, and the situation with free transactions is even worse. There were cases when the payment was delayed for several days or returned back.

You can increase the probability of approval and transaction speed by simply paying extra for block calculation. Who gets the entire cost of a bitcoin transaction? Those who calculate blocks in the blockchain-miners.

Bitcoin Commission: how to minimize transaction losses

By the way, bitcoin commissions are also needed to prevent spam attacks, when bots create a lot of free transactions and overload the network. Compared to paid transactions, their priority will be low, which means that they will get into the block very rarely.

[Alimhana930 1605]

This is a normal thing, its fees are high because its price is high and the fees are in satosh and according to its price, the value of these fees is in addition to the fact that the platforms benefit from the fees at different rates and there are other currencies such as tlc excellent for conversion and their fees are low.

[saqqdiyaa 528]

bitcoin withdrawal charges are always made excessive because the rate is so excessive and they could even make members paintings and perform trades against other currencies to reduce withdrawal charges

[Majd Raslan 5 549]

The price of Bitcoin is high, $ 18900, it is normal for the transfer rate to be high, and it is the base currency for all cryptocurrencies, but you can exchange it for the transfer fee currencies in it as few as XRP and Litecoin

[Cryptic 0]

I think it is because of the congestion of the network and I think Yobit prefers the much faster transaction speed since if we chose the slow one we cannot assure whether our transaction will success or not, so to make sure that it will success we should choose the faster one, or maybe you could choose the XRP as coins for transferring since it has a low price. I always use it to transfer my balance from Yobit to my personal wallet.

[Sallujam 886]

Its not strange for me that the reason behind is bitcoins is much valuable and definitely it will cost much to withdraw it and we haven't much coins for withdraw so we think that it costs much that i think we have not earned a bitcoin yet so it feels more costly.

[Pranto1 40]

The point is very clear because the price of Bitcoin is higher than the currency I was talking about, the higher the price of cryptocurrency, the higher the cost of withdrawal, which is a very normal thing to do.  You have to withdraw once a month and do not withdraw every day, so this loss becomes more than the profit.

[Roop 1108]

Bitcoin is the most valued cryptocurrency till date. More the value ,more the profit and more the withdrawal fees. Beside the transaction and withdrawals are in large volume and it is hard to mine to so it has high fees.

[Mansoor sumaan 29 0]

There is a fee for every currency you want to exchange. For some currencies they are low and for some currencies they are high. In short you have to pay charges for every exchange. Answer to the clear that the price of Bitcoin is much higher than the other countries and the Bitcoin is most trustable and favorable currency. So it requires more charges or fee for its exchange.