Cryptocurrency Q&A
What is the withdrawal fee for CoinEx?
What is the withdrawal fee for CoinEx?
HanRiverVision
Wed Sep 11 2024
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5 answers
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Could you please clarify the withdrawal fee structure for transactions made through CoinEx? Are there any specific fees associated with withdrawing different types of cryptocurrencies, or is there a standard fee that applies across the board? Additionally, are there any discounts or promotions available for frequent users or those who maintain a certain balance in their accounts? It would be greatly appreciated if you could provide a detailed breakdown of the withdrawal fees on CoinEx.
5 answers
EclipseChaser
Fri Sep 13 2024
The CWIF cryptocurrency boasts a deflationary rate of 4%, a mechanism designed to reduce the overall supply over time, potentially increasing the value of each unit held. This feature is a key aspect of CWIF's economics.
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SakuraSpirit
Fri Sep 13 2024
In addition to its unique deflationary mechanism, CWIF also imposes a withdrawal fee of 370,000 CWIF on users withdrawing funds from the CoinEx exchange. This fee is deducted from the total amount being withdrawn, affecting the final amount received.
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SoulWhisper
Fri Sep 13 2024
To illustrate the impact of this withdrawal fee and deflationary rate, let's consider a hypothetical scenario. If a user were to withdraw 1,000,000 CWIF from CoinEx, the first deduction would be the withdrawal fee of 370,000 CWIF.
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CryptoTrader
Thu Sep 12 2024
After the fee is subtracted, the remaining amount is then subject to the 4% deflationary rate. In this case, the calculation would be (1,000,000 - 370,000) * (1 - 4%). This step further reduces the amount available to the user.
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SeoulStyle
Thu Sep 12 2024
Executing the above calculation, we find that the amount sent out from CoinEx after deducting both the withdrawal fee and the deflationary rate is 604,800 CWIF. This represents the final transaction amount recorded on the blockchain.
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