Topic: [ANN] KRAKEN.COM - Exchange with USD EUR GBP JPY CAD BTC LTC XRP NMC XDG STR ETH - page 211. (Read 629033 times)

Thanks Serpens - we will leave it the old way (way1) for now and if we change it will give plenty of warning and hopefully by that time have in place a way to set the default fee currency to whatever you want for each currency pair.

Kraken is the only exchange I know, where you can choose from which currency pay the fees (I think there is one other, but I don't remember). But it's only possible in the advanced settings, isn't it?  
Please make it possible to choose the default fee currency for all normal orders.

Also Bitstamp reduce the fee from fiat only. I will call it "way1". (at least they did when I did my last trade there, don't kow how it's now).

All other exchanges, like Bitfinex, btc-e, bitcoin.de,..  do it exactly the other way round you introduced it.
So if you buy bitcoins there, they will take the fee from the bought bitcoins. And if you sell there, they take them from the Fiat you get.
I will call this "way2".

When it's deducted from the bought btc amount (way2):
You buy 1 bitcoin, but only get 0.997BTC, if the fee is 0.3%. And on most exchanges the minimum trade amount is 0.01, so you can't even buy the missing 0.003 BTC -.-
So to get exaclty 1 bitcoin I have to buy 1.003009027 BTC ... you don't see why this is annoying?
But this way of doing it is quiet logical, because you never have too few balance.

The other way round, like Kraken did today ("way3")... when you think about, it also does make sense in some way and you don't have the problem with buy 1btc and get 0.997, so that's good.

But in the end, both methods (way2 and way3) have the same result:
Ending up with more/less Btc/Fiat, than you should have.

When you buy and sell btc with way3:
starting balance:  200€ and 2BTC and 0.1% fee.
- buy 1BTC for 100€/BTC    ->  with fee I pay 100.10€   ->  now I have 99.90€ and 3 BTC
- sell 1BTC for 100.20€/BTC  (so it should be +-0)  ->with fee it will reduced by 1.001BTC -> now I have 200.10€ and 1.999BTC.
I will loose more and more btc when it's way2 or way3.

That's why I prefer way1.

We have set the fees back to the old way of doing it. Sorry that we didn't provide advanced warning, but the developers thought we had changed it this way before without any comment from clients, so they thought that people didn't care one way or the other. We understand, though, that it can be a problem for accounting and advanced notice should have been provided. We will definitely provide such notice if we change it in the future.

We would love to hear feedback from others on their preference with the fees - i.e. do you have a preference for what the default fee currency is and why.

Hi Serpens, as I just posted in the German thread, we are looking into this right now. We will get back to you.

Yes, SEPA transactions will be processed, but wires will not be processed. Today and Monday are bank holidays both in Germany (Fidor) and in Luxembourg (PayCash's bank).

They are both bank holidays in Germany, but the system is automated.
That is when it actually works.

According to TARGET2 rules, easter friday and monday are bank holidays:

http://www.vdb.de/target-arbeitstage.aspx

Is it a Bank Holiday in Germany today? Will SEPA deposits be processed?

Hey Drago,

why the hell you changed the fee system without notification ?!   
When selling bitcoins, the fee is now deducted from my bitcoins, and not like yesterday from my €.

Why and why this way? Every other exchange does it the other way round.   But anyway, it mess up all my balances and also the calculation for taxes! I want the fees always deducted from my € balance.
Under "advanced" in the "New Order" tab, I can set this, but it seems not to be a permanent setting.

So please change this as quick as possible or tell me where I can set this on my own.

Thanks for the suggestion. We don't want to move that FAQ question since we want that question answered on the main site. I think the fee subpage is only for trading fees, but I like the idea of having a different section devoted to all fees, so we may do that. In the Kraken Help Center, deposit fees are currently covered under the "Deposits: Basics" section and withdrawal fees are covered under the "Withdrawals" section.

Thanks for the interesting suggestion ICFielder. We will consider it. 

I checked our support tickets and I don't see any login issues reported. But please create a support request if you are having an issue.

Also with me no problems

No problem here.

Is there a problem with login?

you should move the FAQ question "What are the options to deposit or withdraw cash and what are the fees?" to the "Fee" sub page to have all fees listed in one place.

A suggestion to further increase the trading experience at kraken: a distinction between active and inactive orders.

While an active order is in the order book, an inactive order is not. Currently, all orders are active orders. Inactive orders will have the option to be activated automatically or only manually. Here are some examples how the addition of inactive orders can help the users:
(1) Someone wants to place orders overnight, but has a to await a deposit before. By placing inactive orders, he can go to bed and the orders get automatically activated, when the deposit arrives.
(2) Suppose price increases sharply and a user sells his free bitcoins. He would love to sell also his coins, which are reserved for other orders, but he currently cannot until he manually cancels his orders and the price might have already went back until then. With inactive orders, he can sell all his coins, without cancelling his orders. His other orders would just become inactive -- until he deposits or buys back.
(3) A user might want to place inactive orders in order to react quicker to market reactions by manually activating such an inactive order when the market gets rough and moves quickly. That only works, when activating an order is quicker than putting a new one (which might well be the cas, if orders can be activated by just a mouse click).

There are even more applications for inactive orders. But those are the main advantages I see.

I see there's some new information on the dashboard balance, equity and some margin stuff. Exciting times!

I will present the idea to the devs - the update that is done every 60 minutes is on our side, so we can probably have a timer for that. But it might not always be accurate if something on the Fidor side makes it take longer.   

just in addition:
I remember Dargo or Yunus told me, that the check for new transactions does happen always in the same timeframes. I was told that the Fidor API is the cause, why it takes longer at night.
But anyway, I'm sure you are able to comply with it to create such a timer