Exchanges massively inflating transaction fees

Kraken charges $9 at the minute to send/ withdrawal ETH. While the onchain cost is 33 cents.

That’s over 35 times the needed fee.

Bitfinex charge $24 dollars for bitcoin while the fastest transaction fee on the chain at the minute on the chain is $6.

These companies overcharge for withdrawal fees and it seems like it happens at all the major exchanges.

If they don’t use the entire fee for the transaction they should state this, as they don’t make this obvious to the user at all. As these costs are ridiculous if it’s just the on chain fees.

submitted by /u/1one1one
[link] [comments]


No comments yet. Why don’t you start the discussion?

Leave a Reply

Your email address will not be published. Required fields are marked *