Binance, one of the largest cryptocurrency exchanges in the world, recently announced that it will reduce its withdrawal fees by 50%. This announcement comes on the heels of a recent surge in Bitcoin’s price.
The binance fiat withdrawal fees is a recent announcement by Binance that the exchange will be reducing the fees on all fiat withdrawals.
Binance’s BTC withdrawal fees have been halved as a result of Segwit adoption.
The implementation of Segwit is finally gaining traction. Binance, the world’s biggest cryptocurrency exchange, has announced a 50% decrease in Bitcoin withdrawal fees on Twitter. Binance’s implementation of Segwit has resulted in immediate cost reductions, which has resulted in the fee decrease. On Binance, the new Bitcoin withdrawal fee is 0.0005 BTC, which is equal to $5.43 at the time of writing.
Binance has followed in the footsteps of other exchanges such as Bitfinex, which cut BTC withdrawal costs by 25% to 0.0006 BTC on March 1st. Bitfinex also hinted at future fee reductions, saying, “We are working hard to decrease this figure even further in the next weeks.”
Coinbase just declared its support for SegWit a week ago, but no cost reductions for consumers have been disclosed. According to a recent article by Business Insider on Segwit, “just 14 percent of bitcoin transactions utilize it.” We at TotalCrypto believe that as more crypto exchanges embrace it, this number will skyrocket.
? Scam Alert: On the official Binance Twitter, асe (notice the strange characters) is attempting to defraud people. The 5,000 Ethereum offer is undoubtedly a hoax, coming from a Twitter account posing as Binance. Remember, with crypto, if anything looks too good to be true, it usually is.
Be wary of Twitter accounts posing as Binance.
DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.
Binance has recently released a new update that allows users to withdraw up to 50% less fees on their bitcoin withdrawals. Reference: binance withdrawal limit.
Frequently Asked Questions
How much does Binance charge for Bitcoin withdrawal?
Binance charges a small fee for Bitcoin withdrawals. The fee is 0.1% of the transaction amount.
Does Binance charge fees for withdrawal?
Binance charges a withdrawal fee for all withdrawals.
How much does Binance charge in fees?
Binance charges a 0.1% trading fee on all trades.
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