Why is it so costly to send Cindicator on Binance?

3 answers

• Hiten patelMar 15, 2022 · 4 years ago
  The cost of sending Cindicator on Binance is higher due to several factors. Firstly, Cindicator is an ERC-20 token, which means it runs on the Ethereum blockchain. Ethereum has been experiencing high network congestion and gas fees, resulting in increased transaction costs for all ERC-20 tokens, including Cindicator. Additionally, Binance charges a withdrawal fee for Cindicator, which further adds to the cost. It's important to note that the cost of sending Cindicator on Binance may vary depending on the current network conditions and Binance's fee structure.
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• Shields KragelundJun 15, 2023 · 2 years ago
  Sending Cindicator on Binance is more expensive because of the underlying technology it uses. Cindicator is an ERC-20 token, which means it relies on the Ethereum blockchain for transactions. Ethereum has been facing scalability issues, leading to higher transaction fees and slower confirmation times. As a result, sending Cindicator on Binance incurs higher costs compared to other cryptocurrencies that use more efficient blockchains. It's worth considering alternative exchanges or waiting for lower network congestion to reduce the cost of sending Cindicator.
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• startup_rateJun 14, 2020 · 5 years ago
  When it comes to sending Cindicator on Binance, the cost can be attributed to a combination of factors. Firstly, as an ERC-20 token, Cindicator relies on the Ethereum network, which has been experiencing high demand and congestion. This congestion leads to increased gas fees, making transactions more expensive. Additionally, Binance charges a withdrawal fee for Cindicator, which further contributes to the overall cost. If you're looking for lower transaction costs, you may consider using alternative exchanges or exploring different cryptocurrencies with lower fees. However, it's important to note that transaction costs can fluctuate based on network conditions and exchange policies.
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