BTC Withdrawal fee remains almost similar, yet ETH withdrawal fees are up 3-10x. Back in May 2018, none of the Indian Exchanges actually had USDT or any stable coin listed on their exchanges.
For those of you who follow me on twitter, know that I worked 22 hours to prepare a Google Sheet with Crypto Withdrawal Fees on Indian Exchanges. It would have taken me just 4-5 hours to copy and paste the data manually, but I spent 22 hours learning some awesome formulae for spreadsheets and I assure you it was worth it.
As soon as I completed it, I shared it on the internet, now even if I want to update it a little bit, I can’t without atleast 25 other people looking at the document simultaneously. I know the craze will pass, that’s why articles like these will keep me going.
Once it was out, I thought about the last time I had prepared such a document about withdrawal fees. It was all the way back in 2018.
In May 2018, a total of only 81 cryptocurrencies were actually listed on Indian exchanges and none of them were a stable coin. Can you imagine a crypto exchange without a stable coin now? Well, BuyUcoin still doesn’t have a stable coin according to the data we have.
Many of the exchanges from the old list have shut shop and many new ones have taken up the market after the RBI Banking Ban was lifted.
Highlights from Crypto Withdrawal Fee Comparison
You can either check out the comparison on a really bad looking and terribly formatted table, or you can also check it out on a nice google sheet here. Or to save you all the trouble, you can actually just see the highlights below.
Obviously, fees depend on the price and ease of transfer on each blockchain, which fluctuates quite a lot in different conditions, hence the fees are also updated time to time by exchanges. But it is interesting to have an overview of such changes.
- BuyUcoin is the only exchange from 2018, which has not reduced fees for any coin or token in 2020.
- Six out of Eight exchanges have increased the ETH withdrawal fees, only one has left is unchanged, while one has increased it.
- XRP wasn’t listed on CoinDCX exchange in May 2018, while PEXO had only XRP listed on its exchange.
- Only Two out of Eight Exchanges reduced BTC withdrawal Fee (not counting Zebpay that reduced 0.00001 BTC)
- EOS Withdrawal fees are reduced in all four exchanges making it the only coin listed in more than 2 exchanges to see reduction in fees only.
- None of the exchanges had listed Stable coins yet.
- Total listed Coins in May 2018 – 81
- Total listed Coins in April 2020 – 268
What do you think of the highlights? Did we miss something interesting? Comment below and let us know.