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25 sats \ 5 replies \ @lunanto 17 Jan 2023 \ on: HFPF! (Have Fun Paying Fees) - Withdrawal Fees on Exchanges bitcoin
If lightning network is implemented in major exchanges, many users will flock to Bitcoin.
From major exchanges, LN is already supported by Bitfinex and Kraken.
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Paxful isn't on that site but they charge a huge fee for on-chain BTC withdrawals. But they also support LN withdrawals. They aren't fee though ... 1% fee to withdraw via LN.
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There's a clear correlation between crypto casinos charging $10 to withdraw bitcoin and those that do not (and likely will not) support LN deposits and withdrawals.
Exchanges with support for Lightning Network
https://cointastical.github.io/Exchanges-With-LN
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Fee to withdraw where there is LN ⚡ support:
- Kraken: on-chain: 0.00001 BTC ($0.21), LN ⚡ withdrawal is free.
- OKCoin: on-chain: 0.00004 BTC ($0.85), LN ⚡ withdrawal is free.
- SouthXchange: on-chain: 0.00015 BTC ($3.18), LN ⚡ withdrawal is free.
- OKEx: on-chain: 0.0002 BTC ($4.24), LN ⚡ withdrawal is free.
- Bitfinex: on-chain: 0.0004 BTC ($8.49), LN ⚡ withdrawal is free.
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Fee to withdraw where there is not the ability to withdraw from BTC balance via LN ⚡:
- Coinbase: 0.00001731 BTC ($0.37)
- Binance US: 0.0004 BTC ($4.24)
- Binance: 0.0005 BTC ($10.61)
- BTSE: 0.0005 BTC ($10.61)
- BW: 0.0005 BTC ($10.61)
- KuCoin: 0.0005 BTC ($10.61)
- Poloniex: 0.0005 BTC ($10.61)
There are bunch more smaller exchanges that I didn't list for the "not able to withdraw via LN", mostly in the $10 range too.
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Exceptions:
- Flyp.me: on-chain: 0.00004 BTC ($0.85) <-- Swaps to BTC can be either on-chain or LN.
- BitSTAMP: on-chain: 0.0005 BTC ($10.61) <-- LN wIthdraw is through ZBD wallet only
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That's for this info
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