exchanges with trading fees calculated not from the base currency?

zenyfomax1

jr. member

Activity: 98

Merit: 1

Quote from: Beerwizzard on March 08, 2018, 02:29:59 PM

Emm, that doesn't make any sence. What's the difference between paying the fee in base currency and paying it in some other currency? If you sell 100 USD for BTC with 1% trading fee so if you sell 100$ worth of BTC you will still loose this 1$ worth of BTC. It btcome even more complicated when it comes about altcoins where the exchange will have to exchange this fee to the mystical "fee currency".
P.S. As i remember Kucoin also have the same feature that was described by lite.

you're right of course. calculating from the base currency or the other currency at the same percentage will still result in the same amount. don't know what i was thinking.

i think i got confused with trading volume and fee schedules. exchanges usually give discounts for fees according to 30-day trading volume. quoting trading volume in BTC vs in USD makes a difference because when BTC price go up, it's harder to get into the higher bracket with the same amount of trading in USD terms.

Beerwizzard

full member

Activity: 924

Merit: 148

Emm, that doesn't make any sence. What's the difference between paying the fee in base currency and paying it in some other currency? If you sell 100 USD for BTC with 1% trading fee so if you sell 100$ worth of BTC you will still loose this 1$ worth of BTC. It btcome even more complicated when it comes about altcoins where the exchange will have to exchange this fee to the mystical "fee currency".
P.S. As i remember Kucoin also have the same feature that was described by lite.

lite

legendary

Activity: 1400

Merit: 1009

Quote from: zenyfomax1 on March 08, 2018, 09:56:37 AM

For the few exchanges that I use, trading fees are calculated using the base currency (where in a currency pair C1/C2, C2 is the base currency). For example, for pairs BTC/USD, the fees both for buying and selling are denominated in USD. I read that Mt. Gox used to have fees in BTC. Are there other exchanges out there who are calculating fees not from the base currency?

I use only two exchanges(kraken and binance), on kraken the fee charged is in base currency. but on binance it's different, you can buy BNB and use it as your base/fee deductible currency also you pay lower fees[1] when you use BNB.

[1] https://support.binance.com/hc/en-us/articles/115000583311

zenyfomax1

jr. member

Activity: 98

Merit: 1

For the few exchanges that I use, trading fees are calculated using the base currency (where in a currency pair C1/C2, C2 is the base currency). For example, for pairs BTC/USD, the fees both for buying and selling are denominated in USD. I read that Mt. Gox used to have fees in BTC. Are there other exchanges out there who are calculating fees not from the base currency?

Topic: exchanges with trading fees calculated not from the base currency? (Read 101 times)