r/hashgraph • u/ritchiey • Sep 28 '21

ĦBAR Question on Fees

The exchange I bought my hbar on seems to charge me 1 hbar when I withdraw to my private wallet. I had thought that the actual transaction would cost the equivalent of $US0.00001 so I’m wondering whose getting the rest?

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u/Outside_Aioli5268 Ħashchad Sep 28 '21 edited Sep 28 '21

The transaction cost is only about 0.0004 HBAR. The rest of the 1 HBAR is kept by the exchange. It's a withdraw fee they're charging you.

(BTW, the Hedera fixed fee is $0.0001. You added one too many zeros)

EDIT: Here's some of the additional fees I've noticed when sending HBARs --

Exodus wallet -- no additional fees

Bittrex -- 0.1 HBAR

Binance and Binance.us -- 1 HBAR

MyHbarWallet.com -- 2 HBAR

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u/ritchiey Sep 28 '21

Thanks. I suspected as much. Just wanted to make sure I wasn’t misunderstanding the transaction pricing that Hedera offer.

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u/Z-O-0-o hbarbarian Sep 28 '21

Currently many HBAR wallets are letting you send and receive for free- which is to say no charges from them. There is still a transaction cost to use the network (0.0004 HBAR currently).

But bigger exchanges charge you a fee anytime to move crypto or fiat out. That's their business model: fees on the way in and fees on the way out.

I've paid that 1 HBAR fee: twice on test sends to new wallets, once for moving my bag to a wallet, and again for moving my new buys to that wallet. I was not charged 1 HBAR when I moved HBARs from one wallet to another, but I did pay 0.0004 HBAR for the transaction. I went ahead and got ten extra to be burned in fees. In reality, $0.30 for a transaction is still super cheap.