02-11-2021, 09:52 AM
PSA: Binance recently increased ADA withdrawal fees by 400% and are lying about why
<!-- SC_OFF --><div class="md"><p>FINAL EDIT: it's back to 1 ADA ?</p> <p>Withdrawing ADA on Binance, until 2 days ago, would "only" cost 1 ADA.</p> <p>They increased it to 3 ADA yesterday, and some time between yesterday and today they increased it further to 5 ADA.</p> <p>That's a 400% increase in less than 48h. For comparison, transaction fees on Cardano are only 0.17 ADA.</p> <p>And yet, after a user from <a href="/r/cardano">r/cardano</a> enquired about this issue, Binance claimed that the 5 ADA fee "depends on the blockchain and miners" (Miners on Cardano? Am I missing something?).</p> <p>Proof: <a href="https://ibb.co/5k0MMpq">https://ibb.co/5k0MMpq</a></p> <p>EDIT: proof of higher fees <a href="https://ibb.co/b6X5zh3">https://ibb.co/b6X5zh3</a></p> <p>This is disgusting.</p> <p>They're promoting their BNB coin boasting about their low fees, making other coins like ADA look like much less appealing alternatives.</p> <p>For the sake of the free market, and to prevent Binance to pull off any more shady stuff รก la Robinhood, please consider complaining to Binance about this.</p> <p>Not cool Binance. Not cool.</p> <p>EDIT: at the time of writing, the fee is down to 2 ADA (I'm based in UK if it matters). They keep changing it, fuck knows why</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/imm_uol1819"> /u/imm_uol1819 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lh39ss/psa_binance_recently_increased_ada_withdrawal/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lh39ss/psa_binance_recently_increased_ada_withdrawal/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>FINAL EDIT: it's back to 1 ADA ?</p> <p>Withdrawing ADA on Binance, until 2 days ago, would "only" cost 1 ADA.</p> <p>They increased it to 3 ADA yesterday, and some time between yesterday and today they increased it further to 5 ADA.</p> <p>That's a 400% increase in less than 48h. For comparison, transaction fees on Cardano are only 0.17 ADA.</p> <p>And yet, after a user from <a href="/r/cardano">r/cardano</a> enquired about this issue, Binance claimed that the 5 ADA fee "depends on the blockchain and miners" (Miners on Cardano? Am I missing something?).</p> <p>Proof: <a href="https://ibb.co/5k0MMpq">https://ibb.co/5k0MMpq</a></p> <p>EDIT: proof of higher fees <a href="https://ibb.co/b6X5zh3">https://ibb.co/b6X5zh3</a></p> <p>This is disgusting.</p> <p>They're promoting their BNB coin boasting about their low fees, making other coins like ADA look like much less appealing alternatives.</p> <p>For the sake of the free market, and to prevent Binance to pull off any more shady stuff รก la Robinhood, please consider complaining to Binance about this.</p> <p>Not cool Binance. Not cool.</p> <p>EDIT: at the time of writing, the fee is down to 2 ADA (I'm based in UK if it matters). They keep changing it, fuck knows why</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/imm_uol1819"> /u/imm_uol1819 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lh39ss/psa_binance_recently_increased_ada_withdrawal/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lh39ss/psa_binance_recently_increased_ada_withdrawal/">[comments]</a></span>Kind Regards R