Sorry, I meant to post this in the hitbc exchange thread and couldn't delete this post.
I am using hitbc.
Topic: How is the 0.1% fee applied? (Read 239 times)
Which exchange are you using exactly? This doesn't seems right.
A real situation would be, for example:
You want to trade 0.05 BTC to 500 XCOIN. If the market requires you to pay a 0.1% fee for each trade, you will spend 0.05 BTC and receive 499.5 XCOIN (the initial 500 less the 0.1% fee, which is equal to 0.5)
A real situation would be, for example:
You want to trade 0.05 BTC to 500 XCOIN. If the market requires you to pay a 0.1% fee for each trade, you will spend 0.05 BTC and receive 499.5 XCOIN (the initial 500 less the 0.1% fee, which is equal to 0.5)
Hello,
Just trying to understand how the fees work.
I am trying to buy ~$25 worth of DENT with ETH. Here's what I'm seeing:
Now, the fee I see is 0.1%, seems reasonable. This would be reasonable if the 0.1% was of the PURCHASE PRICE, or in other words $25 * 0.1% = 2.5 cents.
Instead what I am seeing is the 0.1% fee is based on the something else... I am purchasing 76,000 DENT ($25 dollars worth, or 0.076ETH), and the transaction fee is 0.076ETH (25$!)
So what is going on here? What is the 0.1% applied to?
Just trying to understand how the fees work.
I am trying to buy ~$25 worth of DENT with ETH. Here's what I'm seeing:
- 1 DENT is about 1e-6 ETH
- I've got 0.076e ETH in the account
- This means I can buy about 76,000 DENT
Now, the fee I see is 0.1%, seems reasonable. This would be reasonable if the 0.1% was of the PURCHASE PRICE, or in other words $25 * 0.1% = 2.5 cents.
Instead what I am seeing is the 0.1% fee is based on the something else... I am purchasing 76,000 DENT ($25 dollars worth, or 0.076ETH), and the transaction fee is 0.076ETH (25$!)
So what is going on here? What is the 0.1% applied to?
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