Crypto Social Platforms – Withdrawals, Fees, & KYC

Crypto Social Platforms – Withdrawals, Fees, & KYC

By Scott Cunningham | Crypto & Things | 8 Oct 2021


I use many platforms and report on all of them, but it’s important to keep in mind that a lot of these platforms have limitations on withdrawals whether it’s not allowing you to at all to having extremely high fees. Let’s cover each platform and talk about how they address this.

https://youtu.be/yZM85r7dYF8

I decided I would highlight the many platforms I do earn on and those I thought I earned on until discovering trying to withdraw. This will help you avoid these issues and save you tons of time. I’ve warned about these red flags for a while, but it’s always good to get an update and a reminder on what to look for.

                                                

Below I will go through the fees that it would cost to withdraw my funds and or if you can withdraw and what the restrictions are for many of the platforms I use and a few other notable platforms to give you some insight on what you may want to patronize.

 

Fees To Withdraw On Crypto Social Platforms:

  • LBRY - $0
  • Hive - $0
  • ReadCash - $0~
  • NoiseCash - $0~
  • Cos - $0
  • Steem - $0
  • Blurt - $0 - If you use Ionomy though you do pay about a $20 withdrawal fee from the exchange. The other two exchanges didn’t work for me.
  • Publish0x - $0 – Minimum withdrawals of at least $0.50 to $5 for various cryptocurrencies, though you will have to spend some money on fees to transfer or sell the ERC20 tokens
  • DTube - $0 – If you use Ionomy though you do pay about a $20 withdrawal fee from the exchange, but $136.96 if done through an ETH wallet like Metamask plus what you pay on Uniswap.
  • DenSocial - $116
  • YUP - $453.22
  • Minds - $6,350 if you pay with crypto or $5-7 a month via a credit card in order to withdraw
  • Rokfin – Can’t withdraw currently
  • Hyprr – Can’t withdraw + verification
  • SoMee – Can’t withdraw + Full KYC required
  • Theta – Can’t withdraw unless affiliate streamer + there’s still restrictions
  • DLive – Requires KYC + many restrictions

*All of these fees are in Canadian dollars (CAD) and those with a ~ just mean it’s nearly $0, like the fee could be $0.001 or eve just $0.01.

 

It’s also interesting to find that the first few listed in order of fees associated with withdrawing are my top earners. I’ve even tried and put in serious effort to patronize all of these platforms aside from Theta.tv and Dlive as I don’t live stream.

 

What social platforms are you using currently? What are your thoughts on withdrawals as a requirement and KYC? What are your thoughts on the fees associated with withdrawing your funds? Do you only use platforms that don’t have these issues? Let me know what you think about this in the comments below and don’t forget to subscribe!

 

*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*

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Scott Cunningham
Scott Cunningham

I am the host of Crypto & Things and a huge social blockchain enthusiast using what I believe to be the next level of social communication. I make educational content, review platforms, and interview cool people. Links: http://www.scottcbusiness.com/


Crypto & Things
Crypto & Things

I am the host of Crypto & Things and a huge social blockchain enthusiast using what I believe to be the next level of social communication. I make educational content, review platforms, share my passive & crypto income journey, and most importantly, I get the opportunity to interview and chat with so many amazing people in the blockchain, cryptocurrency, and tech space every week and share it all with you. Links: http://www.scottcbusiness.com/

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