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Withdrawing and depositing Bitcoin (fees and general questions)

Binance

Cryptocoins Exchanges / Binance 460 Views

Hello
Got a few questions that I'd love to get some help with:

  1. Binance has a 0.0005 btc fee for withdrawals. Does that include ALL fees if I withdraw Bitcoin to my wallet? I did one withdrawal, but when I checked the txid online and my wallet it says the "transaction fee" was 0.002388 (4x more) and not 0.0005 btc. How come the fees doesn't match? Did I pay both those fees or how does that work?
  2. When I deposit Bitcoin into Binance I can select SegWit as network. But, when I add a withdrawal address for Bitcoin I can't select SegWit as network, the only choice is "Bitcoin" which I assume is the legacy network? Is it not possible to choose SegWit as network?
  3. Are the fee(s) when withdrawing Bitcoin from Binance paid from my wallet balance on Binance or is it taken from the amount I transact?
  4. When you deposit or withdraw between your wallet and Binance, what are all the fees that you're paying? I don't really have a good overview of it.

Thanks a lot! :)

submitted by /u/OGP100
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