Every time you withdraw from COBINHOOD Exchange, every withdraws transaction will cost you the following rates. Please note COBINHOOD does not profit from withdrawal transactions, these fees will go to the miners who are responsible for maintaining the network.
|COB||25||Equivalent amount of 3 USD|
|TRX||25||Equivalent amount of 3 USD|
|ZRX||25||Equivalent amount of 3 USD|
|UTNP||25||Equivalent amount of 3 USD|
|LALA||25||Equivalent amount of 3 USD|
|SHPING||25||Equivalent amount of 3 USD|
|PLY||40||Equivalent amount of 12 USD|
|FXT||25||Equivalent amount of 3 USD|
|SVD||25||Equivalent amount of 3 USD|
|KWATT||25||Equivalent amount of 3 USD|
|WELL||25||Equivalent amount of 3 USD|
The USDT withdrawal fee amount is due to how USDT (Omni) is implemented. Multiple transactions cannot be grouped together and a single BTC transaction is required for each withdrawal, which requires us to add a very high mining fee as an incentive.
Please note that we don't profit from withdrawal fees. All we are trying to do is not to lose money in between transactions. While other platforms use trading fees to compensate their withdrawal fees, we are committed to maintaining a zero trading fee policy. Adding trading fees is not the solution for us.
The withdrawal fees also need to cover internal transfer fees between our deposit wallets and hot/cold wallets. For security purposes and to ensure a good service, when a token is deposited into one of our deposit wallets, we need to move those tokens from the deposit wallet to our hot/cold wallets and these transactions also require the payment of fees. In the case of ERC20 tokens, we even cover the mining fees when the user account has no ETH.
There are other situations that add extra costs for us. For example, a user may deposit 3 times but withdraw only once, case in which we lose due to the internal transfer movements required. According to our historical data, many more deposits than withdrawals are made on the platform.
To maximize the efficiency of all our transactions and keep the withdrawal fees as low as possible, our system automatically adjusts the amount of GAS used according to the rates on CoinMarketCap.