- Bitcoins or other cryptocurrencies can be purchased via exchanges or marketplaces. And when you finally think that you found a good rate with good conditions, you will discover that there are also different commissions charged. If you would-not pay attention to the those trade fees you can earn less profit on your trade or even get a zero profit indeed.
Main types of commissions available in trading crypto when you are using marketplaces,
comparing
Top-up commission - Open and use online wallet usually free of charge, but when the amount is very small you cannot deposit any crypto
- Paxful does not charge any fee, but has a limits for buying BTC is 10$, selling is 0.001 BTC.
Localbitcoins charged the fee, the fee varies on how congested the Bitcoin network is. If your deposit amount is smaller than the bitcoin deposit fee, the deposit will not be processed.
Trading fee (or escrow fee) - it's a marketplace profit, deducted from your wallet when the trade is complete. If the trade is not completed, fees not charged.
Paxful charges fees to customers who sell bitcoin and the fee varies depending on the method of payment: Credit/Debit Cards: 1%, Digital Currencies: 1%, Online Transfers: 1%, Bank Transfers: 0.1%, Cash Deposits: 1%, iTunes and Google Play. 2% for every other gift card.
LocalBitcoins users who create an Offer are charged a 1% fee for every trade.
Transaction within platforms -(without reflecting transactions in the blockchain)- Usually free of charge what makes it easy to change crypto to crypto easily
Ennlo.com - no fees for transaction inside the platform
Transactions to wallets of other LocalBitcoins users are free.
Sending BTC to another Paxful customer is a fee of $1.00, but free of charge first 5 transactions per month.
Withdraw commission (blockchain fee) -Send crypto to the external wallets will cost you a little fee, usually, this fee goes to blockchain miners
Ennlo.com charge commission for withdrawal which goes directly to miners: https://en.bitcoin.it/wiki/Miner_fees. and to support infrastructure.
The size of the fee changes depending on the current usage rate of the Bitcoin blockchain, Localbitcoins automatically adjust this fee based on the current network congestion to make sure your transactions are confirmed as quickly as possible.
Paxful charges a flat wallet send out fee of 0.0005 BTC ( include miner fee and maintenance of secure wallet infrastructure)[/li][/list]
There is main fees which you need to keep in mind when trading at marketplaces, but it's better and more secure to check the Terms of services and Fees description before you will start to trade.
P.S. Be aware that Localbitcoin has some extra fees as custom work, e.g. research of possible external problems, is 200 EUR/hour paid in Bitcoin at the current market rate.[/list][/list]
