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  • Binance Earns More Than $20,000 per Day Overcharging on Transaction Fees

    Binance uses a process known as payment batching in order to reduce transaction fees to a bare minimum. By squeezing as many outputs as possible into a single transaction, Binance is able to cut transaction fees by as much as 80%. Binance also opts to maintain a legacy input address, which actually makes payment batching more cost-effective than a SegWit address. Binance’s 0.0005 Bitcoin withdrawal fee is around 33 times higher than the fee required to ensure transactions are mined on the next block. 

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