How to Calculate Withdrawal Fees
- Notices of Deposits and Withdrawals
Considering daily market fluctuations in cryptocurrencies, the original withdrawal fee structure of a fixed amount is no longer suitable, as it may result in high costs for users. To minimize withdrawal expenses, we have upgraded the fee structure, introducing a dynamic charging mechanism to replace the former fixed one.
The withdrawal fee is calculated based on the following formula:
Withdrawal fee of a specific crypto on a certain day = Withdrawals fee of the blockchain network / the average price of the crypto on the previous day
Here's an example of withdrawing USDT from the ERC20 blockchain network. Assuming the withdrawal rate of the ERC20 blockchain network is 0.001 ETH, and the average USDT price from the previous day is 0.0005 ETH/USDT. According to the given formula, the USDT transaction fee would be 2 USDT.
The average price of a specific crypto can be calculated using the following formula:
The crypto price of the previous day (from 00: 00: 00 to 23: 59: 59) is upgraded at 01:00:00 (UTC+8) each day. The average price is the total of the prices of every hour on the previous day (which is the total of 24 prices) / 24. If the currency price is not available at on the hour, and there are fewer than 24 prices on that day, the average price will be the total of the prices of every available hour on the previous day / the number of the available hour. For instance, let's consider the scenario where there were only 23 prices available for a certain crypto of the previous day. In this case, its average price would be calculated by adding up the prices for 23 hours (converted to USDT) and then dividing this sum by 23.
Note: Withdrawal fees for new listings are currently fixed due to the unavailability of the previous day's price. However, they will be adjusted to a dynamic rate in the future.
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HTX reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and HTX makes no recommendations or guarantees in respect of any virtual asset, product, or promotion on HTX. Prices of virtual assets are highly volatile and trading virtual assets involves risk. Please read our Risk Reminder text here.
