Bitrue Called Out for High Withdrawal Fees, Users Shocked

Bitrue user takes to Twitter to share his incredulity over the current withdrawal fee on Bitrue Exchange. Specifically, the tweet called out the leading digital asset exchange on its 20 SGB withdrawal fee.

As we can see from the tweet, the user is not happy with the withdrawal fee on the exchange. From his Twitter bio, we see that Alex Cobb stacks Songbird (SGB) and seems to encourage delegating the asset.

It is clear from his tweet that he tried to withdraw some SGB but was baffled by the ridiculously high 20 SBG withdrawal fee. He calls absolute cap on this and compares the high fee to the high fee issue that plagues Ethereum’s blockchain.

As a collective, the crypto community has been shaking its head over the prevailing gas fee issues on the Ethereum blockchain. As one of its biggest problems, Ethereum’s team is working hard to eliminate it. In fact, this is one of Ethereum 2.0’s biggest promises.

Coming back to the tweet, it was met with an interesting mix of responses. For instance, one said that this is clearly a move at trying to have users keep their assets on the platform. Another response laughs and highlights a tweet from Bitrue that says the platform will soon give users a reason to keep their $SGB on the exchange.

On the other hand, one response says that the delegation rewards are totally worth the high withdrawal fee. Another reply says this is because Songbird (SGB) is gaining attention and is in high demand.

At the time of writing, the price of Songbird (SGB) is $0.59. The crypto shows a rise of 8.62% over the last 24 hours. Presently, it is bullish and shows a 24-hour trading volume of $4,833,122, according to CoinMarketCap.     

All in all, high fees are one of the biggest reasons for crypto traders and holders to consider migrating to other platforms. Exchanges, blockchains, and others should always keep that in mind and do their best to provide a more tailored experience.