12-19-2022, 09:48 AM
I compared BTC & ETH withdrawal fees of different CEXes - This is the result
<!-- SC_OFF --><div class="md"><p>As we all know the current network fees on BTC and ETH are super low compared to last year - perfect conditions to withdraw your coins. But now I was curious: How well do the most known exchanges hold up to this? How hard to they overcharge?</p> <p><strong>Current network fees:</strong></p> <ul> <li>BTC: 1 sat/vB ; 0.02 $</li> <li>ETH: 15 gwei ; 0.35 $</li> </ul> <p>Note some overcharge on this fees is necessary for exchanges to ensure the transactions don't get stuck if the activity suddenly increases.</p> <p><sup>All exchanges were checked by myself today without relying on any external data. Don't trust, verify.</sup></p> <p><strong>Kraken:</strong></p> <ul> <li>BTC: 0.00001 BTC / 0.17 $</li> <li>ETH: 0.00350 ETH / 4.13 $</li> </ul> <p><strong>Coinbase:</strong></p> <ul> <li>BTC: (0.33~0.37$ according to comments) *</li> <li>ETH: 0.00033600 / 0.40 $</li> </ul> <p><strong>Binance:</strong></p> <ul> <li>BTC: 0.0002 BTC / 3.34 $</li> <li>ETH: 0.000768 ETH / 0.91 $</li> </ul> <p><strong>KuCoin:</strong></p> <ul> <li>BTC: 0.0005 BTC / 8.35 $</li> <li>ETH: 0.005 ETH / 5.91 $</li> </ul> <p><strong>MEXC:</strong></p> <ul> <li>BTC: 0.0003 BTC / 5.01 $</li> <li>ETH: 0.001 ETH / 1.18 $</li> </ul> <p><sup>\</sup> Since I had not even a few sats in my Coinbase account I couldn't get an estimate for the fee, but since Coinbase very accuretly took the actual network price for ETH, I assume they do the same for BTC. Can someone please confirm if this is accurate?)</p> <h1>Summary</h1> <p>From what I have seen, the only <strong>clear winner here could be Coinbase</strong> which calculated about the exact ETH network fees for fast confirmation.</p> <p>While Kraken has fair fees on BTC, they overcharge a lot on ETH (by x10).</p> <p>The fees of Binance are rather high on BTC, but acceptable on ETH in my opinion.</p> <p>MEXC is the opposite of Kraken; Rather fair ETH fees, overcharging BTC by a lot.</p> <p><strong>The biggest rip-off in this comparison is without a doubt KuCoin</strong>. They overcharge BTC by over 400x and ETH by over 15x. This is already far more than you need to overpay to ensure priority confirmation.</p> <p>​</p> <p>Feel free to add exchanges I didn't mention here in the comments.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Maxx3141"> /u/Maxx3141 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zp0jbl/i_compared_btc_eth_withdrawal_fees_of_different/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zp0jbl/i_compared_btc_eth_withdrawal_fees_of_different/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>As we all know the current network fees on BTC and ETH are super low compared to last year - perfect conditions to withdraw your coins. But now I was curious: How well do the most known exchanges hold up to this? How hard to they overcharge?</p> <p><strong>Current network fees:</strong></p> <ul> <li>BTC: 1 sat/vB ; 0.02 $</li> <li>ETH: 15 gwei ; 0.35 $</li> </ul> <p>Note some overcharge on this fees is necessary for exchanges to ensure the transactions don't get stuck if the activity suddenly increases.</p> <p><sup>All exchanges were checked by myself today without relying on any external data. Don't trust, verify.</sup></p> <p><strong>Kraken:</strong></p> <ul> <li>BTC: 0.00001 BTC / 0.17 $</li> <li>ETH: 0.00350 ETH / 4.13 $</li> </ul> <p><strong>Coinbase:</strong></p> <ul> <li>BTC: (0.33~0.37$ according to comments) *</li> <li>ETH: 0.00033600 / 0.40 $</li> </ul> <p><strong>Binance:</strong></p> <ul> <li>BTC: 0.0002 BTC / 3.34 $</li> <li>ETH: 0.000768 ETH / 0.91 $</li> </ul> <p><strong>KuCoin:</strong></p> <ul> <li>BTC: 0.0005 BTC / 8.35 $</li> <li>ETH: 0.005 ETH / 5.91 $</li> </ul> <p><strong>MEXC:</strong></p> <ul> <li>BTC: 0.0003 BTC / 5.01 $</li> <li>ETH: 0.001 ETH / 1.18 $</li> </ul> <p><sup>\</sup> Since I had not even a few sats in my Coinbase account I couldn't get an estimate for the fee, but since Coinbase very accuretly took the actual network price for ETH, I assume they do the same for BTC. Can someone please confirm if this is accurate?)</p> <h1>Summary</h1> <p>From what I have seen, the only <strong>clear winner here could be Coinbase</strong> which calculated about the exact ETH network fees for fast confirmation.</p> <p>While Kraken has fair fees on BTC, they overcharge a lot on ETH (by x10).</p> <p>The fees of Binance are rather high on BTC, but acceptable on ETH in my opinion.</p> <p>MEXC is the opposite of Kraken; Rather fair ETH fees, overcharging BTC by a lot.</p> <p><strong>The biggest rip-off in this comparison is without a doubt KuCoin</strong>. They overcharge BTC by over 400x and ETH by over 15x. This is already far more than you need to overpay to ensure priority confirmation.</p> <p>​</p> <p>Feel free to add exchanges I didn't mention here in the comments.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Maxx3141"> /u/Maxx3141 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zp0jbl/i_compared_btc_eth_withdrawal_fees_of_different/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zp0jbl/i_compared_btc_eth_withdrawal_fees_of_different/">[comments]</a></span>