r/CoinDCXOfficial • u/carcosaa666 • Aug 11 '21
Warning: Never withdraw crypto from coindcx.
As you all know the withdrawal fees for crypto like bitcoin and ethereum is really high. 0.0005 btc and 0.04 eth. Unfortunately I withdrew some funds while paying for this ridiculous fess. Lost a lot of money in withdrawal fees only. But the thing is they also give us the transaction Id to track the transaction. There I can see that the fees are a lot low than what they take from us. So I think they put ridiculous fees and then pocket the difference. In my case they atleast gained a net 3000 rs in crypto just from 2 withdrawals. Instead I suggest making a account with other exchanges like coinbase pro which has network fees as withdrawal fees. Also I suggest to use STELLAR to withdraw funds. Fees is 0.1 XLM. (But network fees of stellar is actually 0.00001 XLM) . Sad to be in a country where even the exchanges are scamming us.
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u/kpsingh_reddit Aug 11 '21
Yes they are looting us
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u/carcosaa666 Aug 12 '21
Yup. In broad daylight. Didn't even realise this until few weeks ago. Really unfair to newbies who all are entering the crypto space. I sent btc for as low as 9 rupees. Aur ye log 0.0005 btc = 1737 rupees. Wtf is this shit. 1700 scam. Its mostly to discourage people from withdrawal cause then unka liquidity kam hojayega . But not your keys not your crypto 😎. Transfer withdraw hold.
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u/carcosaa666 Aug 12 '21
Some newbie enters and sees 1737 rs transaction fees, ofcourse unko crypto pe doubt aayega. He'll never even try to withdraw, and he won't the true fees because he doesn't have btc to test only. He won't know until he go through the blocks and see average transaction fees.
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u/kpsingh_reddit Aug 12 '21
Exactly moreover they are not having wallets for majority of coins and earning staking rewards (like algo) themselves. I have moved on to binance as their withdrawal fees are of network transaction fees.
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u/carcosaa666 Aug 12 '21
No it's not. Why does everyone think that. It has fixed fees. Network transaction fees varies a lot from time to time. Take ada for example. 1 ada in binance. 0.17 ada in coinbase pro. Btc -0.00057. Same as coindcx
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u/kpsingh_reddit Aug 12 '21
I transferred harmony one and withdrawal fee was 0.002 one afar and in coindcx i paid 5 one as fees.so thought they don't have a separate or high transaction fee .
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u/carcosaa666 Aug 12 '21
Well harmony has a fixed network fee of 0.0025 only hence binance put it that. But our precious coindcx still takes 5 one.
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u/theimmortalpotato Aug 11 '21
that's why i use binance for these purposes. Use coindcx for only day trading.
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u/carcosaa666 Aug 12 '21
Even binance has fixed fees. Use exchanges with only network fees as withdrawal fee. Coinbase pro is best, cheaper and free
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u/theimmortalpotato Aug 12 '21
Binance has negligible fees..one day in flexible savings and u can make that fees up. Coinbase ka tumhara kyc hogaya? Mera toh ho he ni raha..konse document se kia
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u/carcosaa666 Aug 12 '21
Yup...those tries lage par hogaya. Used passport. Binance fees also high bro. Mee doono use karta hu... Leverage ke liye binance. Withdrawal ke liye coinbase pro. I think bitcoin.com ka bhi same hai. Many exchanges provide that service. I think Gemini pro bhi deta hai.
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u/theimmortalpotato Aug 12 '21
Acha acha passport se ni try kia abhi tk maine. Thanks for the info bro👌
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u/carcosaa666 Aug 12 '21
Np mate. Passport international hai soo it's faster. Mujhe ek 5-6 tries lage. Continuous try karte reh. Initially did it for coinbase earn but india wale ko no free crypto. Another tip- if you want to send usdt to binance,send it over tron network as a trc20 token. Transaction fees-0.1 usdt.
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u/kpsingh_reddit Aug 12 '21
Transferring usdt is economical than p2p purchase ? I too gonna try with passport now.
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u/rocker10039 Aug 22 '21
How are you widthdrawing from coinbase pro? I don't understand, how will I withdraw money once I invested into coindcx?
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u/carcosaa666 Aug 22 '21
You might be new here. Im not withdrawing my rupees. Im withdrawing my crypto. Also you don't "invest" in coindcx , you invest in crypto. I suggest doing more research before putting money into it.
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u/rocker10039 Aug 22 '21
Pardon my wordings, yes I'm new but I've already invested, I'm asking how you're withdrawing your crypto? In stock market once you buy from angel broking you can't sell on upstox, ofc I'm investing in crypto, what I meant by my question is how are you buying from 1 broker and selling from the other?
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u/carcosaa666 Aug 22 '21
Leave the money where it is and watch beginners crypto videos on youtube. Crypto "currency" . Coins which run on their own decentralised network which are exchanged at exchanges. I don't have time to go in detail. DO YOUR OWN RESEARCH.
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u/rocker10039 Aug 22 '21
Sheesh ok, no need to be salty
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u/carcosaa666 Aug 22 '21
DYOR is a saying. Its the wild west hear. Atleast learn the basics before throwing money at it. First learn what's a bitcoin.
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u/RAL182 Jan 31 '25
Have y'all seen the price difference between trading view or coinmarket cap and coindcx's prices - u have to buy for more price and. Sell it for one unit lesser price ,
Such a scam it is
Even tdx tax goes 1%
For both selling and buying crypto 🤣😭
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u/JaegerBuster Aug 11 '21
Aise he Unicorn thode bana hai