Wallet to Binance or Coinbase?

Discussion in 'Crypto Assets' started by kakao, Mar 8, 2021.

  1. kakao

    kakao

    How much fee or commissions do i pay if i transfer my coins from my Exodus wallet to Biannce or Coinbase? And is there also a fee to transfer coins from these exchanges to my wallet again?

    I am asking this because i don't really trust these exchanges and i want to have my coins in my wallet through, if i don't trade for example in nights or weekends.
     
  2. MrPlastic

    MrPlastic

    There is always a fee depending on congestion of the network of your Crypto Asset, You won't find out until they tell you how much you're transferring. They will tell you how much before any transferring, and you can decide to either wait or just bite the bullet and be done with the transfer.
     
    kakao likes this.
  3. BKR88

    BKR88

    Last edited: Mar 8, 2021
    kakao likes this.
  4. kakao

    kakao

  5. niko79542

    niko79542

    Get your account verified before you depo if you use binance, especially if you're American. They let you deposit, but only let you w/d 5k/day for unverified accounts. PITA
     
    Nobert and kakao like this.
  6. MrPlastic

    MrPlastic

    Yes, there is a min requirement for every crypto to be transferred out. Sadly... back then maybe in the early startup days of Binance, before tether came out it was usually a small fee on top of the network fee. But now they want a min fee amount on, and it's not so favorable on small accounts and in this case its 50% of your crypto asset. I highly suggest to just leave the funds there for years and if its worth higher you can swallow the transfer fee. 2nd option which would cost more, would be to transfer more crypto in that exchange and see if you get a better rate to completely extract all your crypto in one shot to your exodus and be done with it. or Option 3, just accept that insane fee and be done with it.
     
  7. niko79542

    niko79542

    Its a flat $15 fee per withdrawal, so yes if you withdraw $30 you will pay half. Commissions on coinbase are a ripoff, even if you use coinbase pro. So binance is better in that regard, but yea, I would get my account verified first.
     
    kakao likes this.
  8. How about security in Binance?
    I ever read if this exchange hacked a few years ago
     
  9. kakao

    kakao

    I heard about it before but it was only small percentage of users effected and they got their money back. Correct me if i am wrong.

    I just opened binance account today and there are ton of security methods there. I activated sms verification, google authenticator and "send coins only to whitelisted wallets" etc... Seems secure.
     
    radex78 likes this.
  10. So much about the great new world of decentralized payment and trading systems. Laughing my ass off. Exactly as I predicted years ago. Crypto just another way to rip off dumb people. All the promises of faster, cheaper, better was all a grand lie. It's much slower, more expensive, and one constantly has to look above one's shoulder to avoid a dagger in one's back.

     
    #10     Mar 8, 2021