Binance, one of the world’s largest cryptocurrency exchanges, does not charge withdrawal fees. This is good news for users looking to move their coins off the exchange.
However, there are a few things to keep in mind when making a withdrawal from Binance.
First, each cryptocurrency has a different minimum withdrawal amount. For example, the minimum withdrawal for Bitcoin is 0.001 BTC, while the minimum for Ethereum is 0.
01 ETH. Be sure to check the minimum withdrawal amount for your chosen currency before making a withdrawal.
Second, Binance imposes a withdrawal fee on certain currencies. The fee varies depending on the currency being withdrawn, but is generally around 0.1%.
So, for example, if you withdraw 1 Bitcoin from Binance, you will be charged a fee of 0.001 BTC.
Third, Binance may also charge a “network fee” when you make a withdrawal. This fee goes to the network that processes the transaction (such as the Bitcoin network).
The network fee is generally much smaller than the withdrawal fee charged by Binance, and is sometimes even zero.
Overall, it is quite inexpensive to withdraw your coins from Binance. Just be sure to check the minimum withdrawal amount and fees for your chosen currency before making a withdrawal.