So I made the mistake of sending busd to Trustwallet instead of converting to bnb in binance first. The BUSD does show up in the wallet as ERC20 but shows 0 balance when I try to convert it to something else.
I’ve tried to send it back to Binance but I get told I don’t have enough Eth to cover the fees. It’s asking for 126usd to send 706usd of currency which I find absolutely ludicrous.
Transferring Eth from binance asks for 0.05 Eth as an extra fee and buying through Trustwallet asks for approx 20% commission.
Is this normal? You would think that with the age of crypto and volumes going through the costs would be far less or that the exchanges would say no to the transfer in the first place.
I mean where exactly do all these fees go? Is transferring virtual currency really that expensive or am I missing a trick here? Age old technologies like Western Union wouldn’t even charge that much.
I feel robbed. Please help!