Sick of withdrawal fees on Centralised Exchanges?

TLDR- please feel free to contribute to my simple fee saving measures if you have alternatives

So, if you happen to use Binance and get sick of coughing up 0.0005 BTC to move your BTC to a private wallet here’s what I do……

The SafePal wallet has an exchange function which will swap BTC sent as BEP20 on Binance’s BSC to original BTC.

So, when it gives you the option on Binance of sending via BTC, or as BEP20 (and the original BNB with memo) use either to send your BTC to your SafePal wallet making sure to have enabled SafePal with those particular forms or addresses already ‘opened’, formatted or whatever the correct terminology is.
SafePal does make this quite easy If you play around for a bit.

There is a limit, ie, it must be over a certain amount ie. 0.01 BTC, again,
as either BEP20 BTC or the original herb and spices BNB. It’s not going to make rags to riches but it will save you around $40 plus depending on value of BTC at any given time.

Another option is when BNB is outperforming BTC on any given day, convert your BTC to BNB and send to FTX exchange which accepts both forms BNB (BEP20 and BEP2), and then sell/exchange your BNB on FTX to BTC and withdraw to any private wallet you use.

FTX allows one free BTC transfer per day which is a cool feature. Kraken also has a much lower transfer fee if you purchase BTC on that particular CEX.

I hope I have expressed this clearly enough for anyone to be able to perform the above. LTC can also be a useful crypto to exchange on Cake Wallet to XMR if your jurisdiction doesn’t like one of the best privacy coins around.

ETH is still something I have difficulties with methods of removing from Binance unless you again use the method explained above on FTX.

Please feel free to add to my humble examples if you have them and if anything proves handy from this post don’t thank me……pay it forward to other crypto enthusiasts or people just starting out.

Good karma to all in these interesting times.

Edit: as my Nana used to say, save a penny make a pound

Edit: detailed example follows- transferred X BTC as BEP20 to SafePal wallet (0.000005 BTC) 4 minutes to arrive as BTCB.

Then exchange fee on SafePal from BTCB to BTC (BSC fee 46 cents AUS) 15 mins

Sent BTC from SafePal to private wallet ((0.00001920 BTC transfer fee) 15mins

A working example just transacted to hopefully better illustrate.

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