It will mainly affect the lower tier traders while the whales will just have to buy/sell into their own order once or twice to significantly reduce their fees.
I'm a Bitstamp user too and I don't really mind it. I'm not a day or swing trader. I do some occasional longer term buy low sell high spot 'trading' where I only start cashing out profits when I'm up at least 25%. 0.5% is just a fart in that regard.
It's also a convenient measure to get rid of those micro scalpers. They cost the exchange more in bandwidth than they get in fees from them. Good riddance. Quality over quantity.
Topic: Bitstamp - Fees increased by at least 100% - page 2. (Read 371 times)
It is normal that they want to make money, but the withdrawal fees are are higher than the real fees.
For Bitstamp, I can't stand they doubled trading fees and set these withdrawal fees (it is the "normal" fees on many exchanges but it is still higher than the real fees).
If you guys know a good exchange, where you can deposit/withdraw EUR by SEPA, with low fees, let me know!
For Bitstamp, I can't stand they doubled trading fees and set these withdrawal fees (it is the "normal" fees on many exchanges but it is still higher than the real fees).
If you guys know a good exchange, where you can deposit/withdraw EUR by SEPA, with low fees, let me know!
Gemini significantly raised their fees recently too. Coinbase Pro did as well not long before that. Licensing and regulatory compliance costs are undoubtedly rising in this climate, and these are all "legitimate" licensed exchanges who are upping their fees.
Now that they've established a solid market share, they're ensuring profitability. Can't blame them.
Now that they've established a solid market share, they're ensuring profitability. Can't blame them.
This is a certain demise of the exchange. With every new exchange coming with improvements and more competitive fees, it would certainly be a leap backwards for bitstamp.
With people actively moving towards newer experience, it would be difficult for old exchanges to keep up with their volumes. Experienced users would gradually move towards DEX for crypto to crypto exchange as they get easier and cheaper.
With people actively moving towards newer experience, it would be difficult for old exchanges to keep up with their volumes. Experienced users would gradually move towards DEX for crypto to crypto exchange as they get easier and cheaper.
I'd say the opposite. As time goes on it becomes clearer and clearer that most people operating exchanges are morons. Bitstamp will have earned plenty of loyalty so they'll be confident of retaining most of their customers.
In future exchanges will consolidate into behemoths while the middle ground withers. There'll be thousands scrabbling around for scraps at the bottom but go to any at your own risk.
This is a certain demise of the exchange. With every new exchange coming with improvements and more competitive fees, it would certainly be a leap backwards for bitstamp.
With people actively moving towards newer experience, it would be difficult for old exchanges to keep up with their volumes. Experienced users would gradually move towards DEX for crypto to crypto exchange as they get easier and cheaper.
With people actively moving towards newer experience, it would be difficult for old exchanges to keep up with their volumes. Experienced users would gradually move towards DEX for crypto to crypto exchange as they get easier and cheaper.
They should have warned directly their customers before increasing the fees that much, I posted this thread to warn people using it.
Cobinhood is dead (more like a zombie) for a while, they don't have volume, not even 2500 USD over the last 24 hours...
Cobinhood is dead (more like a zombie) for a while, they don't have volume, not even 2500 USD over the last 24 hours...
Their services, their rules. We are bound to follow what they have set just because they had been providing it for less and it may have costed them more then and exchanges have a budget to keep it going, so here I think that Bitstamp wanted a bit more share of the volume they are pursuing.
If you are open to advice, try Cobinhood. Their trading fees is 0 and you only pay deposit and withdrawal fees as shown here - https://cryptoins.io/post/cobinhood-fee
If you are open to advice, try Cobinhood. Their trading fees is 0 and you only pay deposit and withdrawal fees as shown here - https://cryptoins.io/post/cobinhood-fee
They are sending BTC by batch so for one withdrawal they pay almost nothing...
"if you trade over 10 billion dollars per month you get them free so that's something to aim for."
You'll still have to pay the fee for the first 10 billions, it is more than 0.05%.
So, let's still take 0.05% for easy calculations, for 10 000 000 000 USD, it is 5 000 000 USD of fees MINIMUM.
I don't know many people capable of paying 5 millions of fees. OK, if someone is REALLY RICH, it's not impossible.
But:
The 24H volume on Bitstamp is 124 000 000 USD, for 30 days it's 3 720 000 000 (3.72 billions), for all the users.
It is far from the 10 billions that A SINGLE USER has to trade to get the next trades for free.
So no one gets the free trading fee you're talking about.
The new fees they just set are OK, it's just that they didn't warn their customers and the increase is really huge.
"if you trade over 10 billion dollars per month you get them free so that's something to aim for."
You'll still have to pay the fee for the first 10 billions, it is more than 0.05%.
So, let's still take 0.05% for easy calculations, for 10 000 000 000 USD, it is 5 000 000 USD of fees MINIMUM.
I don't know many people capable of paying 5 millions of fees. OK, if someone is REALLY RICH, it's not impossible.
But:
The 24H volume on Bitstamp is 124 000 000 USD, for 30 days it's 3 720 000 000 (3.72 billions), for all the users.
It is far from the 10 billions that A SINGLE USER has to trade to get the next trades for free.
So no one gets the free trading fee you're talking about.
The new fees they just set are OK, it's just that they didn't warn their customers and the increase is really huge.
Zero fee crypto withdrawals must have cost them a substantial amount of money over the years so that makes sense.
As for the other fees, if you trade over 10 billion dollars per month you get them free so that's something to aim for. I've seen worse fee schedules out there but it could add up if you're small fry.
As for the other fees, if you trade over 10 billion dollars per month you get them free so that's something to aim for. I've seen worse fee schedules out there but it could add up if you're small fry.
Since few days, 20 August 2019 exactly, Bitstamp changed its fees:
https://www.bitstamp.net/article/upcoming-changes-fee-schedule/
Trading fees: start at 0.50%
Previously: start at 0.25%
+100%
Crypto withdrawal fees:
• Bitcoin: 0.0005 BTC
• Ethereum: 0.001 ETH
• XRP: 0.02 XRP
• Bitcoin Cash: 0.0001 BCH
• Litecoin: 0.001 LTC
Previously: 0
+∞%
So basically, for BTC with the current rate, they increased the withdrawal fee from $0 to $5.
SEPA withdrawal fee: 3.00 EUR
Previously: 0.90 EUR
+333%
SEPA transfers are mostly free everywhere in Europe.
Bitstamp was one of my favorite exchange because it is really reliable and the fees were honest, but now it's too much, and they didn't even directly warn their customers.
https://www.bitstamp.net/article/upcoming-changes-fee-schedule/
Trading fees: start at 0.50%
Previously: start at 0.25%
+100%
Crypto withdrawal fees:
• Bitcoin: 0.0005 BTC
• Ethereum: 0.001 ETH
• XRP: 0.02 XRP
• Bitcoin Cash: 0.0001 BCH
• Litecoin: 0.001 LTC
Previously: 0
+∞%
So basically, for BTC with the current rate, they increased the withdrawal fee from $0 to $5.
SEPA withdrawal fee: 3.00 EUR
Previously: 0.90 EUR
+333%
SEPA transfers are mostly free everywhere in Europe.
Bitstamp was one of my favorite exchange because it is really reliable and the fees were honest, but now it's too much, and they didn't even directly warn their customers.
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