Exchanges Adjust BTC Withdrawal Fees Amid Rising Costs

Kraken, KuCoin and other major cryptocurrency exchanges have adjusted their Bitcoin (BTC) withdrawal fees amid the recent spike in transaction costs. Kraken increased its withdrawal fees to match the current fees on-chain, while advising customers to consider using Lightning Network (LN) as an alternative. KuCoin uses dynamic adjustment for BTC withdrawal fees and minimum withdrawal amounts based on the number of actual processing fees on the chain. Meanwhile, Binance experienced major issues with withdrawals amid the ongoing "memepool" congestion and is now considering implementing LN. Other exchanges, including Coinbase, Bybit, and Crypto.com, did not respond to requests for comment.