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Using the withdraw options I’m being charged 22% of $95 to send BTC to a BTC address.

I didn’t know that binance had these kind of rules.

Binance pay can’t help me as it accepts payid, some kind of binance thing, or QR code, you can’t send to BTC addresses with that service.

So how do I get my coins out of there to a BTC address without being robbed?

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    Are you concerned about paying 5 mBTC or about pushing down the proportion that 5 mBTC is of what you get in the end?
    – Murch
    Sep 28, 2021 at 12:59
  • I’m trying to find a way (if there is one) to withdraw my BTC without having to pay 22% on my $95… Never using binance again
    – Nickotine
    Sep 28, 2021 at 14:27
  • Well, if you buy more, the withdrawal fee will still be 5 mBTC, but it will be a smaller percentage. If you don't want to pay 5 mBTC, you could potentially try to trade it for a different cryptocurrency with lower withdrawal fees (if they differ between currencies), e.g. Tether, move the Tether to a different platform to buy and withdraw BTC from there. Not sure if you'll be able to significantly reduce your overall cost.
    – Murch
    Sep 28, 2021 at 14:53
  • Errr… I just noticed. $20 are 0.5 mBTC, not 5 mBTC. The withdrawal fee table that you showed in your earlier question seem to be off by a factor ten.
    – Murch
    Sep 28, 2021 at 14:55
  • Are you saying the 0.002 value is off?
    – Nickotine
    Sep 28, 2021 at 19:00

1 Answer 1

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This is not related to Bitcoin but Binance. Suggesting few things that may help you:

  1. Exchange BTC to something else which you can withdraw with less fees. Example: BNB or USDT (Tron). Send this to an address you get from one of the instant swap exchanges like https://sideshift.ai/ after starting a swap to BTC.

  2. Withdraw with 22% fees and never use this exchange. Other exchanges that support LN, Liquid or option to set your own fees: Bisq, HodlHodl, Bitfinex, Okex etc.

  3. Ask Binance to support LN and Liquid for Bitcoin deposit/withdrawal.

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  • Yes, that’s why I had binance as the tag. I think I will look into your first suggestion thank you, but I’ll send to my own wallet
    – Nickotine
    Sep 28, 2021 at 18:57
  • Wait so I have to convert, transfer to thst wallets currency then convert to Bitcoin and send to my btc wallet, how much do you think I’ll thst would all cost % wise roughly?
    – Nickotine
    Sep 28, 2021 at 19:03
  • You will have to calculate. It was profitable for me few times.
    – user103136
    Sep 28, 2021 at 19:52

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