How can we avoid high exchange withdrawal fees on crypto currencies?

[Kingsley]

I use to think that litecoin had the cheapest transaction rate and I thought it had the fastest transaction speed, not until I tried ripple XRP I was amazed at the speed and less transaction fee. Infact it was so insignificant that i almost thought I wasn't charged anything.

However, many that use exchanges are surprised when it comes to withdrawing their funds and seeing that the withdrawal fee is very high, especially for Bitcoin. In fact there are some exchanges where the withdrawal fee for Bitcoin is actually in excess of twenty dollars, such as the one that I am using. So how do you avoid paying this?

I don't really believe in using those heavy coin for transaction purposes due to their high cost of transaction fee.

What's your take on this?

 

[Vladv26]

There is not much you can do about the big fees of bitcoin, Ethereum or other big coins like this. The exchanges determine the fees based on how loaded the blockchain is, therefore they have no control over that. Fees are so high right now because there are tons of people using cryptocurrency and mining do not have enough power to confirm all the transaction at a faster rate, so they ask for higher and higher fees in order to determine whichever pays most gets the fastest confirmation.

Best thing to do is use altcoins with lower fees like XRP, Dogecoin or USDT.

 

[Yugocean]

Transaction fees depends on the miners, it is not possible to escape their fees if you use the blockchain to transfer your assets. To avoid high fees, one should use a platform which allows in-house free transaction; there all transactions are in-house numbers and not actually blockchain transactions (untill someone withdraw to another wallet/exchange platform).

 

[Chibson]

To the best of my knowledge, the best way to avoid high withdrawal gas fees is by the use of some cryptocurrencies. I always use cryptocurrencies like ripple or litecoin in order to escape high gas fees. It is also good to use some exchange platforms because there are some that impose very high gas fees when you use them to operate.

 

[Putta Vince]

The best thing you can do is to use altcoins like XRP , BCH , LTC , XLM , BNB to avoid high fees. Bitcoin and ethereum have generally very high fees because of the network congestion.

 

[Alexandoy]

Users of crypto just don't notice that exchange platforms and digital wallets are taking advantage of them. When there is a higher demand as show in the big number of transactions the platform would increase the charges. I still stick to Paypal for receiving my earnings and I did not shift to crypto coins.