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Share Your Experience: Take the 2024 Developer Survey
11 votes
Accepted

Is it normal to be asked for an advance fee on a withdrawal?

Never pay to receive a withdrawal. If they wanted to send you money, they could deduct the fees from the sum they claim you own in your account. It's a common scam to be asked for money so that you ...
MCCCS's user avatar
  • 10.2k
7 votes

Does GDAX charge network transaction fees?

I could confirm GDAX does not have any network transfer fees. It could be unbelievable, specially if you started with Coinbase(like most people now), but it's the fact, as it's confirmed in all of ...
Asif2BD's user avatar
  • 71
5 votes

Is it normal to be asked for an advance fee on a withdrawal?

No, when transferring or selling Bitcoin you don't ever have to first pay any sort of extra fee in advance. Being asked to pay in extra money for any sort of fee is a trick of confidence tricksters (...
RedGrittyBrick's user avatar
5 votes
Accepted

How to move sats from a lightning wallet back to BTC wallet?

I had many of the same questions when I first started using the lightning network and BlueWallet. To move funds back to an "on-chain" BTC wallet you can use the exchange function. Open your ...
PanPan7100's user avatar
4 votes

How can other parties track the inflows, outflows, and reserves of exchanges?

Most exchanges aren't publishing this data, some are even trying to hide as much of it as possible, using separate wallets and trying to be smart about change progression. A lot of the analytic ...
Tony Sanak's user avatar
  • 1,689
4 votes

Does GDAX charge network transaction fees?

I just bought BTC on Coinbase, I then transferred that BTC to GDAX and then sent the BTC from GDAX to Binance. NO FEE!!! If I would have withdrawn in Coinbase to Binance, $200 of BTC would have had a ...
BoC_2017's user avatar
4 votes

Why are the bitcoin I mined stuck in the approval stage?

it is still in the approval stage That's not how bitcoin mining works, there is no approval stage. Normally when you mine bitcoin you set up the new block template to pay the mining reward directly ...
RedGrittyBrick's user avatar
3 votes

Error transferring bitcoins to another wallet

This is unrelated to Bitcoin itself. Bitpanda has a minimum withdrawal amount, and it seems that you do not have at least that amount to withdraw. The amount seems to be the equivalent of 100 USD (...
Jivan Pal's user avatar
  • 241
3 votes

Is it normal to be asked for an advance fee on a withdrawal?

A typical scam pattern. A serious partner would deduct the fee from your balance.
tempo's user avatar
  • 311
3 votes
Accepted

Is withdrawal of BTC in cash possible on Bitcoin Wallet App

But I see no option there for withdrawal Because withdrawal is not the appropriate action, the money is not in a bank account. The money is already in the form of cash - digital cash. If you want to ...
RedGrittyBrick's user avatar
3 votes

Withdrawal process

Who said you earned 12000k from 350 ? if it is just written on a website maybe it is fake, also there is no need for verification fee and ID in the bitcoin network, if you send him coins using bitcoin,...
Saxtheowl's user avatar
  • 2,800
3 votes

Address not valid when withdrawing money from Binance

Note: You cannot withdraw to a bitcoin wallet as it is an entirely different network. You would need to install a wallet that supports the so called "Vibrate" cryptocurrency, then use that to ...
Jonathan Cross's user avatar
2 votes
Accepted

Transfer BTC from Coinbase to Bittrex: fee static or percentage

The transaction fee is neither static nor a percentage of the amount you transfer. It is based entirely on the size of the transaction in bytes (because a transaction is just data). Since you have no ...
Ava Chow's user avatar
  • 70.8k
2 votes

When are you charged a withdraw fee?

There isn't really a notion of "withdrawing" from cold storage. Bitcoin isn't a bank and you don't make deposits and withdrawals. You have some coins in an address, that's all, and you can spend ...
Nate Eldredge's user avatar
2 votes

Is it normal to be asked for an advance fee on a withdrawal?

This a good example on what these kind of scams look like:
Marcelo Mira's user avatar
2 votes

How to move sats from a lightning wallet back to BTC wallet?

I can't find anything to send sats to , as a test. Why did I just put funds in a lightning wallet I cannot use? The lightning network is a young technology, but nonetheless there are plenty places ...
chytrik's user avatar
  • 18.3k
2 votes
Accepted

Is it normal to pay a fee to buy bitcoins and then pay a fee to send them?

From the values you present, it appears that Binance has a flat fee of 5 mBTC for withdrawals of less than 0.1 BTC. While transaction fees in Bitcoin scale with the data written to the blockchain ...
Murch's user avatar
  • 75.7k
2 votes

what's having 0.0001 Bitcoin mean?

Your screenshot says that the minimum withdrawal amount is 11 000 000 sats and your wallet's total funds appear to be 14 600 sats.
Murch's user avatar
  • 75.7k
1 vote

Moving BTC to cold wallet over Binance

It sounds to me that the differing fees stem from a qualitative difference in what you are being offered. The "withdrawal over the Binance network" provides you an IOU for Bitcoin. If you ...
Murch's user avatar
  • 75.7k
1 vote

Why are there so many recipients when I send money from one exchange to another?

When you bought bitcoins on Bybit, Bybit added the corresponding Bitcoin balance to your account. Your request to withdraw your funds to your Coinbase wallet caused Bybit, in the role of the custodian ...
Murch's user avatar
  • 75.7k
1 vote

Is it a good idea to deposit directly into a service when withdrawing from another?

Many services explicitly warn users against this practice, including in their withdrawal terms clauses like "you may only withdraw to an address which is controlled by you." This is likely ...
QMdEW4pbr's user avatar
1 vote

Replace-by-fee Problem

Please i have an Account with BlockChain but i notice my account has a withdrawal of all my BTC which was not done by me. It has Replace-By-Fee What might have happened? If you did not initiate ...
chytrik's user avatar
  • 18.3k
1 vote

I want withdraw from BitPay and send USD to bank account in Puerto Rico. I reside in Argentina. Is that possible?

You might need to list them for sale on a site like Coinbase (?) to convert them to USD. Then you would use your PR account to deposit the funds into. From there its a regular bank transaction of USD ...
doug cutler's user avatar
1 vote

Withdraw and deposit in cryptocurrency exchange website

So server need to do more than one transaction: 2 BTC from his own deposit address and the rest 3 BTC from another address that server manages. In this scenario we must pay fee for at least 2 ...
chytrik's user avatar
  • 18.3k
1 vote

How to withdraw or transfer to bank account

Bitcoin is not tied to bank accounts but instead lives on a distributed ledger known as a blockchain. This ledger is verified and stored by thousands of nodes across the world. Selling and buying ...
Septem151's user avatar
  • 667
1 vote

Understanding cryptocurrency exchange working

When users deposit cryptocurrency into an exchange, the exchange takes custody. The cryptocurrency is now the exchange's and the exchange adds a corresponding balance for the depositor to their books. ...
Murch's user avatar
  • 75.7k
1 vote

how to get bitcoin off an exchange?

Receiving funds in Bitcoin is an asynchronous and passive process. A sender creates a transaction which consumes some unspent transaction outputs (UTXO) and assigns the freed-up value to newly ...
Murch's user avatar
  • 75.7k

Only top scored, non community-wiki answers of a minimum length are eligible