From what I can tell they group transactions together and the bulk of the transaction fee is payed by users with higher withdraws. I was never really sure how it worked but you may be right. Haven’t used any other extange for a long time I just though every extange worked like this now. If they really do pay the transactions themselves no doubt in my the mind they go bankrupt soon. Such a flawed business model.
Discussion
All exchanges group transactions. You can have multiple outputs in one transaction which means the exchange only need to pay one transaction fee when paying a group of users so the actual fee per receiver is very low.
Oh hmm I’m gonna have to do more research on this if your right that’s kinda depressing. I thought the Bitcoin network had really improved since 2017. I mean $2-$8 for 10-20 transactions is a lot better than $20-$30 for 1 transaction but I was mislead to believe transaction fees were much, much lower than they actually were. Sad super sad now thanks lol.
Transaction fee on bitcoin is about $2 now I have seen $5 and higher. Yes it is expensive if you only do $30 transfer. The exchange may choose higher fees to make the transaction goes into a block faster but when you do it yourself you can set very low fee and your transaction may be picked by miner in later time. I suggest you to read more about bitcoin transactions and all the soft forks. It is irony that you are so much into bitcoin but not familiar with some basic things.
I’m familiar with the old legacy network. Don’t really care for all this lightning stuff or whatever Shakepay uses now, not my cup of tea Bitcoin is always getting these updates/layers I don’t really follow. I’m into scarcity, decentralization and DCA doesn’t mean I have to research all this other crap. That’s all technical Mumbo jumbo I don’t really care for and leave for the nerds. I also haven’t read the Bitcoin code gonna hound me for that? Lol for Bitcoin to go mainstream you can’t expect everyone to understand the technicals behind Bitcoin.
Doesn’t hurt to learn right, but you do you, I am not trying to push
