The liquidity mining boom on Ethereum has pushed the standard Gas Price beyond 400 Gwei, meaning a simple medium-speed transfer now costs approximately $3.60.
(Data as of September 3, 3:00 PM)
Even basic transactions require hefty fees due to network congestion.
How Taiwan’s Top Exchanges Are Responding
Taiwan’s leading exchanges have adjusted their policies in response to soaring Ethereum miner fees:
MAX Exchange (Updated September 2):
- ETH withdrawal: 0.007 ETH
- ERC-20 USDT withdrawal: 6 USDT
BitoPro (Initially held fees steady but later adjusted):
- Encouraged users to switch to TRON-based USDT withdrawals with zero fees until September 13.
- (Updates: Fees were raised on September 18 but reverted to original rates by September 20.)
ACE Exchange (Announced September 3):
- ETH withdrawal: 0.006 ETH
- ERC-20 USDT withdrawal: 6 USDT
- (Fees reverted to pre-change levels by September 7.)
Binance’s Rising USDT Withdrawal Fees
(Updated October 20)
While Binance reduced fees slightly:
- ERC-20 USDT: ~5.86 USDT
- ETH: <0.005 ETH
Earlier rates were far higher:
- ERC-20 USDT: 15 USDT
- ETH: 0.013 ETH
👉 Compare fees across platforms
Other Global Exchanges
- FTX: No withdrawal fees for ERC-20 tokens.
- Pionex: Competitive rates (ERC-20 USDT: 5 USDT, ETH: 0.005 ETH).
Why Fees Are Skyrocketing
- Liquidity Mining Demand: Floods Ethereum with transactions.
- DeFi Migration: Users move funds to decentralized platforms, straining exchange liquidity.
FAQ Section
Q: Why did BitoPro revert its fee increase?
A: Likely due to user pushback and competition. Temporary promotions (like TRON USDT waivers) eased transitions.
Q: Is Binance still costlier than local exchanges?
A: For ETH withdrawals—no. Its fees are now lower than some Taiwanese exchanges.
Q: What’s the cheapest way to withdraw USDT?
A: Use TRC-20 (if available) or wait for Ethereum congestion to subside.
Risk Warning: Cryptocurrency investments are volatile. You could lose all capital. Assess risks carefully.
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