Today, a friend's friend came to buy bitcoin for $60. So I wondered, it's really expensive for them to buy on exchanges
Exchange take fee keeping in mind the worst case scenario where mempool is full and fee is much higher
Most times only 20-30% of exchange fee is used but sometimes they pay more
Exchange withdrawal usually confirm in 1-2 blocks
If there is no fee than the transaction may be stucked for couples of days that is more painful than 4 usd fee
The question is do you use an exchange that have average withdrawal time of 1-2 days 🤔
Exchange can give priority options to users where they decide low priority fee or high priority fee According to the need