CryptoMediaClub
Monday, October 6, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Bitcoin

‘Memepool’ full: Here’s how exchanges adjust Bitcoin withdrawal fees

12.05.2023
A A
0
127
VIEWS
ShareShare

Amid the ongoing spike in Bitcoin (BTC) transaction fees, some cryptocurrency exchanges have moved to adjust the cost of withdrawing BTC from their platforms.

The United States-based exchange Kraken has increased Bitcoin withdrawal fees to match the current fees on-chain, the company’s customer support manager wrote on Reddit on May 10.

“This helps ensure withdrawals are processed on-chain in a timely manner,” the support manager noted.

Kraken’s representative also referred to the company’s public list of cryptocurrency withdrawal fees and minimum withdrawal amounts. According to the data, Kraken charges 0.00035 BTC, roughly $10, for a Bitcoin withdrawal, with a minimum amount of 0.0005 BTC, roughly $13.

Kraken Support on increasing BTC fees. Source: Reddit

The minimum BTC withdrawal amount on the Lightning Network (LN) also significantly differs from non-Lightning BTC, starting from as low as 0.00001 BTC, less than $1.

The support manager also advised customers to consider using the Lightning Network as an alternative. Adopted by Kraken in March 2022, the LN option allows users to withdraw BTC from the platform free of charge.

Bitcoin withdrawal fees and minimum withdrawal amounts on Kraken. Source: Kraken

Kraken’s public withdrawal fees are significantly less than other major exchanges. Crypto exchange OKX charges between 0.00096 BTC ($26) and 0.00192 BTC ($53) for a BTC withdrawal, a spokesperson for OKX told Cointelegraph. The minimum withdrawal amount is 0.001 BTC, or $27.

OKX declined to comment on whether the exchange will increase withdrawal fees due to skyrocketing Bitcoin transaction costs. The platform also implemented the LN in 2022.

However, Kraken isn’t the only exchange that has adjusted BTC withdrawal fees amid the ongoing memecoin trading frenzy.

Crypto exchange KuCoin uses dynamic adjustment for BTC withdrawal fees and minimum withdrawal amounts, a spokesperson for the firm told Cointelegraph on May 10. The adjustment is based on the amount of actual processing fees on the chain so that KuCoin is “compatible with the market situation,” the representative noted.

“As of this moment, our withdrawal fee is between 0.00002 and 0.001 BTC, and the minimum withdrawal amount is 0.0005 BTC,” the spokesperson stated, adding:

“With regard to implementation of Lightning Network, KuCoin has not yet deployed LN, however, we will actively monitor the market and make adjustments if needed.”

KuCoin’s current Bitcoin withdrawal fees are similar to those implemented on other exchanges like Huobi or Binance.

Related: Coinbase calls Pepe a ‘hate symbol,’ prompting calls to boycott the exchange

“On-chain withdrawal fees are increased due to BTC network congestion. The current withdrawal fee is 0.001 BTC,” a spokesperson for Huobi told Cointelegraph on May 11. Before the increase, the original BTC withdrawal fee was 0.0004 BTC ($11), the representative added. Huobi has also not implemented Lightning yet. “The Lightning Network is currently under discussion,” the Huobi spokesperson said.

According to public information, Binance also charges 0.001 BTC ($27) as a BTC withdrawal fee, while the minimum withdrawal amount is 0.002 BTC, roughly $55.

Despite relatively expensive BTC withdrawal fees, Binance has experienced major withdrawal issues amid the ongoing mempool congestion recently. On May 8, Binance was forced to halt withdrawals twice in 12 hours, with 400,000 transactions stuck in the Bitcoin mempool. The events have pushed Binance to seriously consider implementing the LN.

Multiple exchanges, including Coinbase, Bybit and Crypto.com, didn’t respond to Cointelegraph’s request for comment.

Magazine: Asia Express: Justin Sun’s SUI-farming sins, PEPE’s wild run, 3AC’s oyster philosophy

Share10Tweet6ShareSharePin2

Related Posts

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge
Bitcoin

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge

15.07.2025
0

BitcoinWorldCoinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge The cryptocurrency world is buzzing with excitement, and for good reason!...

Read moreDetails
Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

14.07.2025
Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

14.07.2025
Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

14.07.2025
Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

08.07.2025
Load More
Next Post
Coinbase Apologizes PEPE Community for Controversial Newsletter

Coinbase Apologizes PEPE Community for Controversial Newsletter

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Bitcoin priced on Binance​.US crypto exchange at $700 premium

Bitcoin priced on Binance​.US crypto exchange at $700 premium

2 years ago
Solana Price Prediction: Will SOL’s 11.9% Weekly Momentum Carry It Towards All-Time Highs?

Solana Price Prediction: Will SOL’s 11.9% Weekly Momentum Carry It Towards All-Time Highs?

2 months ago
Hong Kong to tighten crypto regulation in wake of JPEX fraud case

Hong Kong to tighten crypto regulation in wake of JPEX fraud case

2 years ago
UK Plans Expanding Team to Combat Crypto-Related Crimes

UK Plans Expanding Team to Combat Crypto-Related Crimes

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Fiscal Fears Fuel Flight to Bitcoin, Gold as Major Currencies Falter

Vietnam Yet To Receive Proposals For Digital Asset Trading Pilots: Ministry

Morgan Stanley Wealth Unit Advises 2% to 4% Crypto Allocation In Portfolios

Russian Central Bank to Launch ‘Large-scale Audit of Nation’s Crypto Holdings’

US Government Shutdown Crisis: Financial Market Turmoil Intensifies, But Investors Flock to H Mining

XRP Price Prediction: $3.12 Breakout or New Decline? What’s Next?

Trending

Can’t Mine XRP? Explore New Avenues with Mint Miner Cloud Mining
All news

Can’t Mine XRP? Explore New Avenues with Mint Miner Cloud Mining

06.10.2025
0

XRP’s value extends far beyond its price, powering fast remittances, loyalty rewards, and institutional finance.The native digital...

Bitcoin’s Surge Led to Widespread Liquidations, Prompting Investors to Turn to Arc Miner

Bitcoin’s Surge Led to Widespread Liquidations, Prompting Investors to Turn to Arc Miner

06.10.2025
From Tether to STBL: Reeve Collins Charts the Future of Stablecoins and Web3

From Tether to STBL: Reeve Collins Charts the Future of Stablecoins and Web3

06.10.2025
Fiscal Fears Fuel Flight to Bitcoin, Gold as Major Currencies Falter

Fiscal Fears Fuel Flight to Bitcoin, Gold as Major Currencies Falter

06.10.2025
Vietnam Yet To Receive Proposals For Digital Asset Trading Pilots: Ministry

Vietnam Yet To Receive Proposals For Digital Asset Trading Pilots: Ministry

06.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz