Poloniex fees and charges
The company was founded in and it deals exclusively with cryptocurrency exchange. Therefore, any type of withdrawal and deposit is available only through cryptocurrency, while the fiat methods are not supported at all. If you are new to this type of activity, you should definitely avoid Poloniex as it is very detailed and aimed only towards more experienced users. The platform has several security methods implemented but the safety measures are not at their highest.
This is mainly due to the fact that many users reported critical issues such as lack of adequate customer support and difficulties with withdrawing funds. Furthermore, their Terms of Use has several controversial points which you should check out before using the platform.
The users generally love the conditions that Poloniex offers but do not rely much on the platform due to the numerous issues such as poor customer support, withdrawal problems, lack of transparency, etc. Poloniex is a cryptocurrency exchange platform based in Delaware. Although it is one of the sites with the highest volume, there are several negative things that will be mentioned in this review. To sum up, Poloniex could become a great platform that focuses only on cryptocurrency when its team decides to fix the problems that back off the new users to join.
Apart from that, it has great fees and people who like to constantly exchange one crypto for another will definitely like it. Verification on the website is not difficult and it has the standard 2-point procedure. The first point includes e-mail verification after you had entered your personal info. We have done extensive testing over the years to make sure bitcoin transactions are delivered the fastest way possible. Because Exodus prioritizes speed and reliability over low fees, Exodus will always dynamically set the best price to deliver your transactions as fast as possible.
This may be worth checking out to learn more about Bitcoin fees: Ethereum has a different fee calculation, based on the type of transaction being sent: You will pay a larger fee if sending to a 'smart contract' address, or if sending an ERC20 Ethereum based token.
More info on Ethereum and ERC20 token transaction fees can be found here: If being able to manually set a low fee is important to you, Exodus is not a good software choice and we encourage you to use other bitcoin wallets. The good news is there are a lot of highly technical BTC wallets much better than Exodus in this regard. With the current market reach of Exodus, and the nature of our community's user-base, this will not be a focus for our wallet anytime soon.
If you receive small payments over time from a mining contract, you are like Alice in the above example section: When you send these dozens of small inputs, the Bitcoin network requires these inputs be smushed together and batched into one payment, which takes up data on the blockchain. The fees on these transactions are far higher than those for sending a more reasonable, input transaction.
In a few cases, the fee required to send your Bitcoin is even higher than your Bitcoin balance. Does Exodus have fees to send or receive? How does Exodus calculate fees? I receive BTC mining payouts.
Why are my fees so high? Last updated on April 11,