What is the withdrawal fee on Biying Exchange?

Biying Exchange’s withdrawal fees vary depending on the cryptocurrency type and method. On-chain withdrawal fees are affected by network congestion and miner fees, while platform withdrawal fees are usually lower. Typical handling fees for common cryptocurrencies include: BTC (on-chain: 0.0005 BTC, platform: 0.0001 BTC), ETH (on-chain: 0.005 ETH, platform: 0.001 ETH), BNB (on-chain: 0.01 BNB, platform: 0.003 BNB) . Methods to reduce handling fees include withdrawing from the platform, withdrawing when the network is not congested, and choosing lower miner fees.

Biying Exchange Withdrawal Fees

Biying Exchange’s withdrawal fees vary according to different cryptocurrency types and withdrawal methods.

Handling fees for withdrawal methods

• On-chain withdrawals: Applicable to withdrawals to external wallets or other exchanges. Fees are typically based on network congestion and the chosen miner fee, and may vary by cryptocurrency.
• Platform withdrawal: Only applicable to withdrawals to other Biying exchange accounts. Fees are usually fixed and often lower than on-chain withdrawal fees.

Fees by Cryptocurrency Type

Here are the typical withdrawal fees for some popular cryptocurrencies on Biwin Exchange:

• Bitcoin (BTC): On-chain: 0.0005 BTC (~$10) ; Platform: 0.0001 BTC (approximately $2)
• Ethereum (ETH): On-chain: 0.005 ETH (approximately $15); Platform: 0.001 ETH (approximately $3)
• Binance Coin ( BNB): On-chain: 0.01 BNB (about 2 USD); Platform: 0

Factors affecting withdrawal fees

• Network congestion: When the network is congested, on-chain withdrawal fees may will be higher.
• Miner Fees: On-chain withdrawals include fees paid to miners who verify transactions, and these fees can fluctuate based on network congestion.
• Cryptocurrency Type: Blockchains with different cryptocurrencies have different network fees.

How to reduce withdrawal fees

• Choose a platform to withdraw: If possible, choose a platform to withdraw to reduce the handling fee.
• Wait to withdraw when the network is not congested: Withdrawing when the network is not congested can reduce on-chain withdrawal fees.
• Choose a lower miner fee: When withdrawing on-chain, choosing a lower miner fee can reduce the withdrawal fee, but it may increase the transaction confirmation time.

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