Why Is Bitcoin Withdrawal Fee High In Every Exchange Platform?

[YubeRz 8]

Apart from being the most popular currency, its mining process is increasingly complex. Its popularity means that many users are using the blockchain daily so it becomes more congested and miners have to do more validations so the value of the transactions increases.

It should also be seen that if we make withdrawals, send or deposit, the type of address influences the costs. If it is the classic multi-account address, it will cost more than the beach32 addresses.

[Antonio Mendoza 173]

The transation fee always was a problem with bitcoin that one of the reason that bitcoincash was created, however any Exchange putted the fee cost that they pay to the miner to make their transation fast or slow. Some Exchange used lighting network to make the transition more cheaper but is too high anyway. I recommend to use other coin to make withdrawal like bitcoincash is really cheap.

[Jeancarlossnow 25]

Users of bitcoin exchange platforms have to pay certain types of fees in order to use the services of the site. The most common types of commissions include the collection of deposits and withdrawals from the exchange account, and the application of commissions for commercial activity.

[Ammyvirk01 31]

Because of difficulty to mine bitcoin is increasing day by day, so that why to create  a block of bitcoin is expensive than other alt coins.

But you can do this you can tranfer the other cryptos like LTC, TRX, DOGE, DGB etc. Their fee is very and the speed of transaction is great. Eth speed is also great but ETH transferable fee more than that coins i mentioned 

[Dinero49 39]

Hello, good evening. The truth is that each exchange has its own withdrawal fees. It is also the case that events such as the Halving of bitcoin influence the price of BTC and mining fees. Sometimes higher fees are needed to complete the transactions. I advise you not to leave too much money (BTC) in the exchanges. Most of your crypto coins have to be in wallets. Best regards.

[gagwdadada 534]

Потому что это самая дорогая криптовалюта на бирже крипты и очень не стабильная, может как сильно вырасти так и сильно упасть, предполагаю именно из за этого.

[obatala 28]

On 4/14/2020 at 8:38 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?

Bitcoin is a currency or cryptocurrency that grew out of nowhere, gradually creating confidence in the crypto miners there, its growth, in terms of the value of exchange transactions, but other platforms such as yobit that allow you more accessibility are relatively better. for exchange between cryptos

[Nicolae01 73]

Because there are thousand of transactions for them. And they also do that to make people invest more and more money into crypto. This way you come with liquidity to the exchange and bring value. The highest is the price of a crypto, the highest will be the fee. Maybe the best way is to make cryptos with billions of supply, this will lower the feees in $ 

[Nagat54 42]

Because bitcoin blockchain has a huge fees for transactions.

[jvaltek 166]

3 minutes ago, Nagat54 said:

Because bitcoin blockchain has a huge fees for transactions.

Really because of the high value that bitcoin has, the commissions are somewhat high
in the exchanges, but those of ETH are more expensive, but in both cases those commissions
are for the miners

[Dcoder 21]

the fee depends on the miners fee and the exchange but try to withdrawal once a month or even more ...

[ejgomez78 35]

El 14/4/2020 a las 8:38, Bohana dijo:

Hola mis amigos. 

Me preguntaba acerca de esto. ¿Por qué Bitcoin tiene grandes tarifas de retiro a diferencia de cualquier otra moneda?

Por ejemplo, el retiro de BTC en la plataforma Yobit es 0.0012 BTC, mientras que la tarifa de retiro de Litecoin es 0.002 LTC.

¿Alguna idea de por qué?

más que todo por el tamaño de los bloques, el precio de bitcoin que es el más alto de las criptomonedas y por el mantenimiento de las plataformas donde operan

[DIOCIS 89]

Because bitcoin has more demand than other cryptocurrencies, in addition to being the most valuable mode on the market, for that reason the bitcoin shipping rate is always higher since it has a great value

[ahmedmhom 28]

Because it is the process of transferring money from one wallet to another wallet that requires high-efficiency devices, and the price of devices reaches terrible sums to solve complex mathematical issues, and a wallet consists mostly of 40 numbers and letters

[benalmoh88 1500]

i think that it have relation with his blockchain, when i want to send my coins from yobit to other exchanges i'm using LTC, XRP or DGB, but if i want to send my bitcoin to my wallet i lose 0.0012BTC for each withdraw.

[Lobozteam 68]

It is because bitcoin blocks are more difficult to extract so the cost of the transaction is higher, I would advise you to withdraw in another type of currency with lower commissions, in my case TRX helps me a lot.

[futbol 59]

On 14/4/2020 at 8:38, Bohana said:

Hola mis amigos. 

Me preguntaba acerca de esto. ¿Por qué Bitcoin tiene grandes tarifas de retiro a diferencia de cualquier otra moneda?

Por ejemplo, el retiro de BTC en la plataforma Yobit es 0.0012 BTC, mientras que la tarifa de retiro de Litecoin es 0.002 LTC.

¿Alguna idea de por qué?

This occurs because each block in the bitcoin blockchain is very difficult to decrypt, since bitcoin is made under the SHA-256 encryption algorithm. As this currency has become very popular, the number of users who perform its mining has increased and the energy expenditure required to perform the descent of the currency is too high and the equipment that is needed to do it has become expensive.
Since more and more people have joined mining and the use of this currency, the competition is so great that in order to be profitable to carry out this task, the miners need to charge a more or less high commission that allows them to recover the investment they have made in your equipment and for this to become your fixed monthly income.
In general, the current volumes of transactions that exist and the massive demand of users is what also makes the withdrawal fees of this valuable currency more expensive.

[AirEmmanuel 28]

I never withdraw in BTC, I usually change a currency with lower transaction fees, such as litecoin or eth, even dogecoin. The bitcoin withdrawal fees are very high, they always have been and since I don't have enough money, I have to change to another currency

[joseraul 28]

Well, in some exchance you must do a kyc to be able to get from 1 to 5 btc but in others not like yobit, which is one of them

[Ayelet 81]

This is due to the demand and congestion, there are many transactions, the network collapses and all pending transactions occupy resources of the blockchain, increasing costs and therefore the prices of commissions, this is known as mempool

[GM266 673]

The price of bitcoin is higher than any other cryptocurrencies or regular cash money. That's why the miners have to pass a good number of time and blocks to mine the currencies. As a result ,they ask for the higher payfare. And also the value is high of this currency and the exchange platform also applies high withdrawal fees for this crypto coin. 

[zhoutong 2188]

Yes I have noticed it is high from all exchanges probably because the miner fees are high too. I'm not sure if this is always because it drops sometimes but they probably made an average fee.

[to4ka4444 35]

Ну наверное потому что это монета на которой грубоговоря держиться вся криптоиндустрия , у кого не спроси везде биткоин наслуху,самая актуалная монета начиная с 2013 года , большие обьемы болишие суммы поэтому вот так и ставят по крупному .

[drummer223 110]

the commission per transaction in blockchain networks have increased significantly in recent months; There are many factors that affect this commission, among them are the payment of confirmations to miners and the payment for the entry and exit of assets from exchanges, given the increase in the price of bitcoin, the commissions also increase and not only bitcoin but also the eth and other cryptocurrencies

[hackynoway 89]

so tall? sure? what do you compare it to? Lately the rates have risen as the miners are charging less and less but ... compared to the Uniswap rate ... or the eth network doesn't seem that expensive, don't you think?