Why Is Bitcoin Withdrawal Fee High In Every Exchange Platform?

[Jeet Narayan 1940]

Yes bitcoin withdrawal fees is very high in all exchanges. The main reason for this happening is the blockchain because transaction depends on blockchain and we all know how much traffic is Bitcoin as well as Bitcoin blockchain working in old algorithm.

[Ms.o 3322]

The main reason for high bitcoin miner fees is supply and demand. The bitcoin block size is 1MB, which means that miners can only confirm 1MB worth of transactions for each block (one every ten minutes). If the number of transactions waiting to confirm exceeds what can fit in 1 block, bitcoin miners choose to confirm the transactions with the highest bitcoin miner fees.

[khaler 1549]

My friend's subject is due to the currency exchange rate Bitcoin from the most expensive currencies in this field followed by the ETH and then the LTC so I recommend either the LTC or its low-duty draw currency you can convert the Bitcoin into other currencies inside the platform.

[Saba123 10]

I think it is high because the bitcoin crypto currency is also high and the bitcoin withdrawal fees is also high compared to other currencies because the other currencies are low so it will be easy when the currencies are low 

[betelihem 4766]

On 4/14/2020 at 9:38 AM, 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?

Because the price of bitcoin is high, and the price of other coins is very little so the conformation for bitcoin needs high price

[Sunil kumar Behera 489]

I think you are right the withdrawal fee for the Bitcoin at every exchange is very high it might be just because of the price of it as everyone know that the Bitcoin price is much higher so that might be the reason for the high withdrawing fees

[Whited35 15285]

It is because Bitcoin is the most expensive cryptocurrency in this world and network fee are generally high in the most of the cases. Bitcoin makes the most notable influence for the top rated altcoins in the market so this can be another reason to be transaction fee higher , I think. 

[Trofimova 133]

Because it is the most popular cryptocurrency and because of this, miners should receive decent pay for their work, without them, the bitcoin blockchain would simply not work. 

[Dark_Sky 8489]

On 4/14/2020 at 11:34 PM, Arun gope said:

yes that's changes piece of the Bitcoin are very much hi we have to wait for the time to get the things lowdown worth the price of the coin with also so much in the manner of the coin rate if you find the two percent it is the really a good amount of the fee for the exchange on it so you won't have any questions regarding it.

For me the the two percent is a cheap price as long as you do not exchange everyday for you not to pay high. 

Once or twice exchange per week or month is necessary. 

Just don't do it as a hobby mate. 

[Brand1 1336]

It is very clear that the Bitcoin currency withdrawal fees are high within all platforms with the aim of the people working inside the platforms trading operations to obtain low withdrawal fees so I advise everyone to trade the Bitcoin currency to Ethereum or Litecoin

[Calvinpriva 17296]

I real don't know why bitcoin withdrawing fee is very high in yobit exchange, there are many coins and many of them have small withdraw fee that everyone can afford it. But only bitcoin has the highest fee.

[Hatred 1388]

On 4/14/2020 at 8:38 PM, 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?

Well, maybe the reason is that bitcoin has much more higher price than other cryptocurrency, that's why its fee is way too different to other coins. And the reason why its fee is high is because the price of bitcoin in the market is going up so the fee for transaction also goes up.

[issa123h 0]

I think because the bitcoin is the major coin and for it's high value for example

Ltc  price is about 40$ and bitcoin price 

Is about 10000$ so there is adefernce 

This Is in my opinion only

[Jaysen0104 536]

Because Bitcoin has also high value price point in the market that's why not just withdrawal but also deposit fee is high.  The demand to bitcoin makes it more valuable and makes it more popular as well as it has great value. But you can avail low withdrawal fee by exchanging it to other currency like Ripple to avail low transaction fee.

[Bruno52 1141]

I think that this is because bitcoin has a very high value unlike litecoin which makes it have a high fee of withdrawal and that is why I always use litecoin when withdrawing my earnings.

[ETheHedgehog 3104]

because bitcoin is the most important crypto currency and many exchanges try to keep you from withdrawing it so they keep getting more money from commissions when prices go up

[Wilmer Garcia 0]

Personally I think that withdrawal in Bitcoin (BTC) is much more expensive than any other cryptocurrency derives in that it is a much more expensive currency and that it is harder to get 

[marchal87 2343]

The reason for this is that it is the first currency in terms of its high price and in terms of the number of investors and traders there are several ways to reduce fees by converting them to another currency such as DGB for example, this currency has very few fees

[Soaib khan 1035]

On 4/18/2020 at 10:24 PM, Trader21 said:

In my view it depends on price of coin. l mean BTC fee is so higher than others. That is why BTC is also more expensive than other coins. It is really the main reason. 

I think bitcoin withdraw fee is so high because it's one of the oldest cryptocurrency and with is bitcoin is one of the expensive cryptocurrency in the world that's why it's fee is so high 

[MCSGlegend 2210]

Because bitcoin has a halving that reduces payments to miners, and because of this, the Commission for withdrawing bitcoin is high.

[Nab 263]

so if you want to withdraw your yobit satoshis to a  btc portfolio the commission is very high this is because of the requirements of the exchange but you can change them to usd or rur where the commissions are lower even if you change to doge are also low.

[Ndayebo8 0]

Bitcoin is withdrawal fee is higher than any other currency because is the most valuable of today's time and also serve as people want ( people's demand ).

[Treat1234 0]

Actually what I observe in this analysis Bitcoin is the chief of all the coins all the coins in the crypto currency are depended on Bitcoin if the price rise up the other coins also their price rise and the reverse the case therefore it requires a lot of high exchange fees compare to other coins this is just my opinion

[yuwira 0]

due to the fact the bitcoin community procedures handiest 7 transactions each 2d, and due to this, human beings need to pay large commissions to the miners so they get rewarded for their paintings.

[pablomarwan 3082]

In any platform you find different prices, including those who ask you for at least 0.002 in order to withdraw every platform that has a different withdrawal price and from which you can pay for miners and the rest is what you earn from each customer in order to invest. As a bank, you have to pay some fees