Cost of moving bitcoin off an exchange

siezard
0
0

I decided to play about with having my own wallet and so i downloaded the coinbase wallet to experiment with. When I withdrew 0.00188 btc from binance into my coinbase wallet I was charged 0.0002 btc, which is more than 10%! Binance say it was the network fee but when i check the receipt on both binance and coinbase wallet the network fee is actually 0.00000268.

Why the hell does it cost so much to remove bitcoin from an exchange? Are they all like this?

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