Hello everybody! Today i would like to share with you two tables i made about withdrawal fees for Bitcoin and Ethereum (on their native blockchains) on the most known crypto exchanges.
Most of the exchanges have a fixed withdrawal fees that can easily kill small investors or crypto hodlers who want to send cryptos to different wallets or saving platforms. So from my point of view is always a good idea to make researches about saving money on fees!
Exchanges i have been checking
Binance
Coinbase
Kraken
Ftx
Bitfinex
Crypto.com
Etoro wallet
Uphold
The rock trading
Conio (only supports Btc)
I choosed 10 from the actually most known exchanges and i encountered that costs on transfers can change so much.
BITCOIN WITHDRAWAL FEES
update 30/03/2021
As you can see from this table fees can change so much from an exchange to another.
The best deal is for sure Ftx at the moment because it has free withdrawal on btc as i mentioned in my previous post!
If you want to give ftx a try : https://ftx.com/#a=10431698
Network fees means that the fee is totally based upon network request.
https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m
On this website you can check average network fee for the current day, and as you can see from the chart btc fees in the last 3 months have been floating between 8 and 32$.
ETHEREUM WITHDRAWAL FEES
update 30/03/2021
The best deal in this chart is more difficult to find.
Kraken looks to be a good deal too at the moment but I prefer dynamic network fees on eth because you can easily check them on https://etherscan.io/gastracker and wait until you don't like the price.
Sometimes is almost impossible to make a transaction if you don't like to spend 10/20$. Ethereum's fees are floating so much based on network traffic.
My suggestions are:
-usually fees are lower in the nights but even more in the weekends
-don't try to do a transaction if there is any airdrop or similar going on (like with uni and 1INCH airdrops every eligible person had to do one or more transaction to claim the free coins so it resulted in a network congestion with fees going to the moon.
Conclusions
-Choose your favourite exchange
-Always check network fees before doing a transaction.
-Sometimes waiting means saving many $.
Hope these tables can help you to figure out which one is the best deal for you!
Let me know what you think about my research and if you use some cheaper exchange!
Thanks for your attention!
