Bitcoin withdrawal fees: what reaches your wallet

If you move Bitcoin to your own wallet, the exchange takes a withdrawal fee in BTC. On a small purchase that can cost more than the trading fee.

Exchange fee or network fee?

The exchange's withdrawal fee is its own charge. It may be more or less than what the Bitcoin network is charging at that moment. Your exchange's withdrawal screen shows the fee you'll actually pay.

A fixed fee bites small amounts

A 0.00005 BTC fee is 0.5% of a 0.01 BTC withdrawal, but 0.05% of 0.1 BTC.

Worked example

A$2,000 at a 0.5% trading fee and a A$100,000 price buys 0.0199005 BTC. After a 0.00005 BTC withdrawal fee, 0.0198505 BTC reaches your wallet.

Before you send

Check the network matches your wallet's, copy the address exactly, and note the exchange's minimum withdrawal. A Bitcoin transaction can't be reversed.

Tax

The ATO doesn't treat moving crypto between wallets you own as a disposal, but a fee paid in crypto is one. This is general information, not tax advice. For your own situation, read the ATO's guidance or ask a registered tax agent.

See how much BTC reaches your wallet from each exchange

Related guides

Further reading: Australian Taxation Office: crypto asset investments. Examples use round illustrative prices, not live quotes; the tools use live order books. General information, not financial, investment or tax advice.