Crazy fees to withdraw on Bittrex

#1

Hey Guys,

I just bought about 2K of SAFEX on Bittrex and I wanted to put in on my wallet … but gosh the tax fee is 100 SAFEX ! worth nearly 1$ … do you know what’s going on?

I sent support ticket as it is the same for me XRP and XEM (tax fee : 5 XRP and 15 XEM)

Thanks

#2

Because they have to pay the BTC fee required for omniprotocol tokens to be sent. Safex is an omniprotocol token.

#3

Hi Rob

I never heard about the Omni protocol so I just read about it and I understand but I’m wondering why I can’t change the tax fee if I don’t want to use this protocol?
I’m not in a rush and I don’t need fast transactions and so far I’m paying a service that I don’ need

Does everybody paid the same fee ? From differents exhange ?
Because 100 SAFEX when it will cost 1$ (in years time) that mean I would have paid 100$ fees lol

Also do you know if Ripple, New Economy Movement and Bitshares are from the Omni Protocol ? Because their fees are around 1$ too (3,60$ for XEM)

Thank you

#4

Since safex is a omniprotocol token, there is not another option. The fees (tax as you call it) are to pay BTC miners for processing the BTC transaction that carried in its payload the safex transaction details.

It depends on the exchange. Poloniex for instance charges around $5.00 for another omni-protocol coin.

#5

Isn’t this temporarily until Safex can use the Chille blockchain instead of BTC blockchain?

1 Like
#6

Hello,
It seems you may be able to help me I just read a post about the safex wallet.
I am having major difficulty trying to move a small amt of safex from bittrex my safex wallet. I do not have any btc in bittrex just a few hundred of safex that I wanted to move to the safex wallet that I downloeaded from safex.io I keep on getting an error message:
Unverified account withdraw limit has been reached. Please try again in 24 hours. To increase your limits, please verify your account. See this link for more details. Any advice would be greatly appreciated.
TY

#7

Im sure youll look back on your post in a year or 2 and giggle. Its to pay the miners. The miners are the blockchain nodes. Consider it an investment in your future and an opportunity to make the system work.

#8

Hi,

Just an update on Bittrex fees. Looks like they are taking 100 safex regardless the amount.