Binance Vs Kraken & GDAX - How to Avoid Exchange Withdrawl Fees

• Binance & Kraken just lowered BTC withdrawal fees by 50%
• Average Binance withdrawal charges now stand at just $5.73 (0.0005 BTC)
• Despite fee reductions, Binance is still behind GDAX which offers FREE Bitcoin withdrawals

In a move to tempt more cryptocurrency traders to start using the platform, cryptocurrency trading platform Binance has announced a 50% reduction in withdrawal fees. Effectively immediately, new fee reductions mean that Bitcoin can be withdrawn for just $5.73 per withdrawal transaction. Did you know, however, that in many cases, digital currency traders might be best served by GDAX when it comes to depositing and withdrawing funds?

Binance Vs GDAX - How to Choose the Best Cryptocurrency Trading Platform

With cryptocurrency exchange Kraken announcing a 50% reduction in its own withdrawal fees, it’s clear that there is an exchange price war afoot. The only question is, which platforms really offer cryptocurrency traders the best value?

Unless You Can’t Use Binance And/Or GDAX It’s Best to Avoid Kraken

Kraken might be trying to compete with Binance when it comes to trading and withdrawal fees. Over the past year, however, Kraken has been plagued by a very buggy user login and signup system.

Seemingly due to a buggy 2 Factor Authentication system, several Kraken users have reported being completely locked out of Kraken for indefinite periods. This being the case, using Kraken comes with high-risk for anyone planning to deposit, trade, or buy Bitcoin on the platform.

Use Binance to Trade Altcoins & Use GDAX to Trade Bitcoin

At present, Binance is the fastest growing cryptocurrency trading platform for one simple reason. Allowing users to trade over 140 different altcoins, Binance makes it easy to buy and sell some of the newest to market digital currency. This means that Binance traders can profit prior to traders using other platforms, when it comes to trading coins like Cardano, Tron, and Stellar Lumens.

Of course, Binance users can also trade top market cap coins like Bitcoin, Ethereum, and Litecoin. There is just one problem. While trading and withdrawal fees on Binance are arguably the lowest on the cryptocurrency market, Binance users can’t cash out cryptocurrency in real fiat cash. This is why when trading coins like Bitcoin, traders might want to consider using GDAX instead.

Benefits of Using GDAX to Trade Top Market Cap Cryptocurrency

Despite being owned by Coinbase, GDAX itself does not charge any fees for digital currency deposits or withdrawals. This means that users can deposit coins like Bitcoin fee free, trade almost freely, and withdraw coins to off-exchange wallets completely free of charge also.

Easy Of-Exchange Bank Transfers

Needless to say, with Binance’s own Bitcoin withdrawal fees now under $6, many traders will continue to prefer Binance for trading overall. It is important to note, however, that with GDAX, traders can cash out coin values to fiat currency based bank accounts. What is more, for withdrawals to EU bank accounts, fees currently stand at just €0.15 EUR, with withdrawals to U.S. Banks based slightly higher at just $25.