High BTC Withdrawal Fee


delendra
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Threads: 1, Posts: 3
#0

Is it just me or does a fee of 0.002BTC (~$25NZD) to withdraw BTC seem a bit high? 

 

Kiwi-coin charges around 0.0003 and Poloniex charges 0.0001



Posted: 11/26/2017 2:21:40 AM
MrFloppy
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#1

Is it just me or does a fee of 0.002BTC (~$25NZD) to withdraw BTC seem a bit high? 

 

Kiwi-coin charges around 0.0003 and Poloniex charges 0.0001

delendra: 11/26/2017 2:21:40 AM

 Its high but is necessary for transactions to be picked up and processed by the network quickly, if others are charging that low a fee and not absorbing the difference themselves (or charging for deposits to spread the cost) then your withdrawals are at risk of being severely delayed because lower fee = lower priority when the bitcoin network is overloaded.

You can also use an altcoin to move value faster and with a lower fee eg LTC or ETH are available almost everywhere if you trying to arbitrage.  



Posted: 11/26/2017 6:49:40 AM Edited: 11/26/2017 6:50:32 AM
DSharp
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Threads: 0, Posts: 3
#2

Is it just me or does a fee of 0.002BTC (~$25NZD) to withdraw BTC seem a bit high? 

 

Kiwi-coin charges around 0.0003 and Poloniex charges 0.0001

delendra: 11/26/2017 2:21:40 AM

 Its high but is necessary for transactions to be picked up and processed by the network quickly, if others are charging that low a fee and not absorbing the difference themselves (or charging for deposits to spread the cost) then your withdrawals are at risk of being severely delayed because lower fee = lower priority when the bitcoin network is overloaded.

You can also use an altcoin to move value faster and with a lower fee eg LTC or ETH are available almost everywhere if you trying to arbitrage.  

MrFloppy: 11/26/2017 6:49:40 AM

 It's necessary to charge 20x the amount other exhcnages charge? Bullshit. I'd gladly wait an hour or two if given the option and pay a fraction of the cost. It's a bullshit fee 0.002 BTC. It's almost $20 US.



Posted: 11/28/2017 7:13:04 PM
chris6
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Threads: 0, Posts: 1
#3

Is it just me or does a fee of 0.002BTC (~$25NZD) to withdraw BTC seem a bit high? 

 

Kiwi-coin charges around 0.0003 and Poloniex charges 0.0001

delendra: 11/26/2017 2:21:40 AM

 Its high but is necessary for transactions to be picked up and processed by the network quickly, if others are charging that low a fee and not absorbing the difference themselves (or charging for deposits to spread the cost) then your withdrawals are at risk of being severely delayed because lower fee = lower priority when the bitcoin network is overloaded.

You can also use an altcoin to move value faster and with a lower fee eg LTC or ETH are available almost everywhere if you trying to arbitrage.  

MrFloppy: 11/26/2017 6:49:40 AM

 It's necessary to charge 20x the amount other exhcnages charge? Bullshit. I'd gladly wait an hour or two if given the option and pay a fraction of the cost. It's a bullshit fee 0.002 BTC. It's almost $20 US.

DSharp: 11/28/2017 7:13:04 PM

 

 

Agree, I'm out unless this changes. Absolute joke.



Posted: 11/28/2017 9:13:29 PM
bitcoinsurfer
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Threads: 2, Posts: 10
#4

If you are not happy with the high bitcoin withdrawal fees, just use another alt coin! Here are a few cheap examples:

--Litecoin--

Fee: .02 LTC (currently 2USD )



--Komodo--

Fee: .01 KMD (currently .03USD)

 

---NAV---

Fee: .0001 NAV ( currently .00017 USD )


If you use a wallet outside of an exchange you will be paying around .0008 (8 USD) bitcoin per transaction, and even then you may not get included in the next block (meaning longer waits)

Yes Cryptopia is adding a pretty big margin on top of the transfers but they also are probably paying around .0010 (10 USD) to ensure they get inlcuded in the next block.
Also consider that they do not have any NZDT deposit fees even though this would require some of their resources.

 





Posted: 11/29/2017 12:56:34 AM