What is the cost of sending Bitcoin from Binance to another wallet?

1 answers

• Dec 19, 2021 · 3 years ago
  When it comes to sending Bitcoin from Binance to another wallet, there are a few costs to consider. Firstly, there are network fees involved in every Bitcoin transaction. These fees are paid to miners who validate and process the transaction on the Bitcoin network. The network fees can vary depending on the current congestion of the network and the size of the transaction. Secondly, Binance charges a withdrawal fee for transferring Bitcoin to another wallet. The withdrawal fee is deducted from the total amount being withdrawn. It's important to note that the withdrawal fee on Binance is subject to change and it's recommended to check the fee schedule on the Binance website. Lastly, the receiving wallet or exchange may also charge a fee for receiving Bitcoin. This fee varies depending on the platform and it's advisable to check the fee structure of the receiving wallet or exchange before initiating the transfer. Overall, the cost of sending Bitcoin from Binance to another wallet includes network fees, Binance withdrawal fees, and potential receiving fees by the destination wallet or exchange.
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