Finding and understanding fees | Bitcointalksearch.org

martina14

full member

Activity: 1190

Merit: 111

Quote from: Spavane on September 30, 2021, 01:53:21 PM

I'm having some difficulty understanding kraken fees.

According to https://support.kraken.com/hc/en-us/articles/201893638-How-trading-fees-work-on-Kraken the fees are less than 1%. (Note that there is no mention on this page that these fees only apply to a particular account type.)

However when I did fiat -> BTC and BTC -> fiat I was charged 1.5% for each transaction.

Delving further into the documentation, it appears to be the case that these fees were because I was using an intermediate account.

Can anyone confirm that if I upgrade to a pro account the fees will be the much lower (0.16%/0.26%)?

Did you ask the support team of the kraken anyway regarding to your question mate?
If not, you better inform or ask this query to them, it is because their exchange discretion to put any
rules and policy where all their traders need to follow. Now, if your going to ask my opinion regarding
this matter, I think even you go into pro account it will come up in the same manner for sure.

Hippocrypto

sr. member

Activity: 1484

Merit: 277

Quote from: Spavane on September 30, 2021, 01:53:21 PM

I'm having some difficulty understanding kraken fees.

According to https://support.kraken.com/hc/en-us/articles/201893638-How-trading-fees-work-on-Kraken the fees are less than 1%. (Note that there is no mention on this page that these fees only apply to a particular account type.)

However when I did fiat -> BTC and BTC -> fiat I was charged 1.5% for each transaction.

Delving further into the documentation, it appears to be the case that these fees were because I was using an intermediate account.

Can anyone confirm that if I upgrade to a pro account the fees will be the much lower (0.16%/0.26%)?

My advice on you mate, don't risk your trades if you won't able to pay a standard trading fees. Most of the time your should consider fees on every exchanges, it's part of their business and it always matters when you initiate withdrawals or transfers of your crypto funds. Upgrading an account doesn't guarantee lower fees, but I can assure you that our holdings is safe compared with basic verification.

BitMaxz

legendary

Activity: 3374

Merit: 3095

BTC price road to $80k

It's an instant buy fee even you are a Kraken Pro you will still pay a 1.5% fee if you want to take the lowest fee then trade on their pro version, not in instant buy on their first page.

You can use their Kraken pro app to trade and get the 0.16%/0.26% fees. Use the link below where you can download it

- https://support.kraken.com/hc/en-us/articles/360049788312-Kraken-Pro-mobile-app-FAQ

Mahanton

hero member

Activity: 2730

Merit: 632

Quote from: JeromeTash on September 30, 2021, 05:46:31 PM

Quote from: Spavane on September 30, 2021, 01:53:21 PM

I'm having some difficulty understanding kraken fees.

According to https://support.kraken.com/hc/en-us/articles/201893638-How-trading-fees-work-on-Kraken the fees are less than 1%. (Note that there is no mention on this page that these fees only apply to a particular account type.)

You are confusing the two.

There different fee rates for crypto to crypto trading spot pairs and crypto to fiat trading pairs

Kraken pro is for crypto to crypto trading pairs like ETH/BTC, BTC/USDT etc - https://www.kraken.com/features/fee-schedule/#kraken-pro

Listen on this one and its actually on point which this do talks about in between crypto to crypto trading and crypto-fiat pairs which i do believe that it is just common whatever exchange platform you are dealing with.

They do have different rates and even though they do really just differ on small percentage but still a significant one.This would just make you realize on what pairs you should need
to trade on for you to save up fees if you do really mind that much.

JeromeTash

legendary

Activity: 2254

Merit: 1236

Heisenberg

Quote from: Spavane on September 30, 2021, 01:53:21 PM

I'm having some difficulty understanding kraken fees.

According to https://support.kraken.com/hc/en-us/articles/201893638-How-trading-fees-work-on-Kraken the fees are less than 1%. (Note that there is no mention on this page that these fees only apply to a particular account type.)

You are confusing the two.

There different fee rates for crypto to crypto trading spot pairs and crypto to fiat trading pairs

Kraken pro is for crypto to crypto trading pairs like ETH/BTC, BTC/USDT etc - https://www.kraken.com/features/fee-schedule/#kraken-pro

Quote from: Spavane on September 30, 2021, 01:53:21 PM

However when I did fiat -> BTC and BTC -> fiat I was charged 1.5% for each transaction.

This is instant buy which is crypto to fiat trading pair...obviously it's fees are higher - https://www.kraken.com/features/fee-schedule/#instant-buy

Quote from: Spavane on September 30, 2021, 01:53:21 PM

Can anyone confirm that if I upgrade to a pro account the fees will be the much lower (0.16%/0.26%)?

There is no need to upgrade an account. Kraken pro doesn't mean it's an upgraded account.

Findingnemo

hero member

Activity: 2366

Merit: 793

Bitcoin = Financial freedom

Quote from: Spavane on September 30, 2021, 01:53:21 PM

I'm having some difficulty understanding kraken fees.

According to https://support.kraken.com/hc/en-us/articles/201893638-How-trading-fees-work-on-Kraken the fees are less than 1%. (Note that there is no mention on this page that these fees only apply to a particular account type.)

However when I did fiat -> BTC and BTC -> fiat I was charged 1.5% for each transaction.

Delving further into the documentation, it appears to be the case that these fees were because I was using an intermediate account.

Can anyone confirm that if I upgrade to a pro account the fees will be the much lower (0.16%/0.26%)?

Never get attracted to the lucrative words, of course Kraken is having less fee structure compare to the most of the other exchanges but still they have fee and it differs from stablecoins to BTC and also it depends on the payment modes for cheapest the banking is preferrable.

bL4nkcode

copper member

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Merit: 1305

Limited in number. Limitless in potential.

Try to check kraken's fees structure https://www.kraken.com/features/fee-schedule/#instant-buy

The article also mentioned why you get 1.5% fee on your transaction (if I'm correct, I'm not a kraken user, just saw this article of them).

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

I haven't used kraken but most exchanges work that way by offering a nice ui and easy few button trading to users to charge them higher fees above using the Pro(/or just a different) version of the exchange.

Spavane

newbie

Activity: 1

Merit: 0

I'm having some difficulty understanding kraken fees.

According to https://support.kraken.com/hc/en-us/articles/201893638-How-trading-fees-work-on-Kraken the fees are less than 1%. (Note that there is no mention on this page that these fees only apply to a particular account type.)

However when I did fiat -> BTC and BTC -> fiat I was charged 1.5% for each transaction.

Delving further into the documentation, it appears to be the case that these fees were because I was using an intermediate account.

Can anyone confirm that if I upgrade to a pro account the fees will be the much lower (0.16%/0.26%)?

Topic: Finding and understanding fees (Read 70 times)