Exchanges with less fees combine the transfers, Kraken doesn't seem to do that, they only send to your address.
It has advantages and disadvantages.
Topic: Kraken bitcoin fee (Read 649 times)
its huge huge fees, specially if you wanna withdrawal small amount 
I'm a Kraken user so can tell you the fee changed recently, when BTC transactions were at their worst, from 0.0005 to 0.001BTC. So clearly it was not to make money, but to be sure withdrawals would work out. To deposit in Euros via SEPA is free, to withdraw via SEPA is 0.09€, doesn't look like they're trying to earn money that way.
Hello everyone,
I'm impressed of the Kraken bitcoin fee to send bitcoin to a wallet. It's 2mBTC, around 3$ !!!
Why is it so high?
The ripple fee is only 0.02 ripple therefore 0.0004 $!!
I'm impressed of the Kraken bitcoin fee to send bitcoin to a wallet. It's 2mBTC, around 3$ !!!
Why is it so high?
The ripple fee is only 0.02 ripple therefore 0.0004 $!!
It's not really their fault for charging such a high amount of fees.
They target consumers they want visiting their site is whales anyways which will generate crazy volume, to them, 2mbtc is absolutely tiny amount of money. It is peanuts to them, they can execute as many withdraws as they want all week long, all day long.
Bitcoin network fees can't be changed by them, therefore they have to charge it, otherwise people will abuse their service as a microtransaction processor.
When i open up the BTC withdrawal page it says the fee will be 0.001BTC, but on their support page they say it's 0.0025BTC. 
well 1 mBTC is better than 2.5 mBTC right ? :p
They probably changed it due to recent rises in fees. Obviously it's better, but honestly, it won't make that big of a difference. You have to understand though that if you deposit, there are fees involved in that too, especially if its small amounts. So basically the withdrawal fee is deposit+withdrawal fees combined.
Hello everyone,
I'm impressed of the Kraken bitcoin fee to send bitcoin to a wallet. It's 2mBTC, around 3$ !!!
Why is it so high?
The ripple fee is only 0.02 ripple therefore 0.0004 $!!
I'm impressed of the Kraken bitcoin fee to send bitcoin to a wallet. It's 2mBTC, around 3$ !!!
Why is it so high?
The ripple fee is only 0.02 ripple therefore 0.0004 $!!
The best way is not withdraw the bitcoins not only from exchanges but also from wallets to move or something,
It's much better faster and cheaper with ripple, doge etc, less fee and fast but the issue is to convert back to bitcoin as we can lose some money
If the amount is not very small this method is a loser.
If you are not careful enough, since you'll buy the altcoin higher than you sell it, also you lose some 0.2%+0.2% to the exchanges, maybe less if you buy directly an altcoin.
At the end, for spending, you may end up losing even more % since you'll feed shapeshift or similar company.
And if you want to keep your coins for long the high volatility may be your enemy.
Keep the money in the coin of your choice and avoid too much exchange if you don't need it. Keep a wallet of your own, fill it with big money instead of small amounts more often and you will be fine.
Hello everyone,
I'm impressed of the Kraken bitcoin fee to send bitcoin to a wallet. It's 2mBTC, around 3$ !!!
Why is it so high?
The ripple fee is only 0.02 ripple therefore 0.0004 $!!
I'm impressed of the Kraken bitcoin fee to send bitcoin to a wallet. It's 2mBTC, around 3$ !!!
Why is it so high?
The ripple fee is only 0.02 ripple therefore 0.0004 $!!
The best way is not withdraw the bitcoins not only from exchanges but also from wallets to move or something,
It's much better faster and cheaper with ripple, doge etc, less fee and fast but the issue is to convert back to bitcoin as we can lose some money
well 1 mBTC is better than 2.5 mBTC right ? :p
When i open up the BTC withdrawal page it says the fee will be 0.001BTC, but on their support page they say it's 0.0025BTC.
Understand, here on kraken they are using fixed fees. I guess it's how they make their money!
Between two account the fee is suppose to be much lower right?
Or I won't expect to buy a sandwich with my bitcoin if I have to pay 2$ of fee !
Between two account the fee is suppose to be much lower right?
Or I won't expect to buy a sandwich with my bitcoin if I have to pay 2$ of fee !
There's a high chance they actually spend the whole fee and the miners are the only ones earning.
I expect Kraken survive just fine with the fees people pay when exchanging from one currency into another.
Back to the fee. The miners' fee. It depends on how big your transaction is - if your money comes from one 10$ bill or 1000x 1 cent coins, it's called inputs - and how many people you pay from that money (yes, it's also possible but I expect you don't use that), called outputs. And it depends on how busy the network is. You can put a very very low fee and you may end up with the transaction not processed at all (or just late).
With online services you have small to no control on all this, actually you don't even own that money written there. It's just a number they display.
If you want to have better control and also own your money (have the actual private key of your wallet) then you should move out of online services and install a wallet onto your phone or laptop. Of course, then you will also have to keep that device safe from hackers.
Understand, here on kraken they are using fixed fees. I guess it's how they make their money!
Between two account the fee is suppose to be much lower right?
Or I won't expect to buy a sandwich with my bitcoin if I have to pay 2$ of fee !
Between two account the fee is suppose to be much lower right?
Or I won't expect to buy a sandwich with my bitcoin if I have to pay 2$ of fee !
There were days when the network was very busy and very high fee was needed to have a transaction confirmed. Now there's a pause in that, I don't know how long this will last.
Some services, instead of finding out what's the best fee / kb to use "now", use fixed fee, which sometimes (like now) it's far too high, and sometimes (when the network is extremely busy) may be barely enough.
Some services, instead of finding out what's the best fee / kb to use "now", use fixed fee, which sometimes (like now) it's far too high, and sometimes (when the network is extremely busy) may be barely enough.
Hello everyone,
I'm impressed of the Kraken bitcoin fee to send bitcoin to a wallet. It's 2mBTC, around 3$ !!!
Why is it so high?
The ripple fee is only 0.02 ripple therefore 0.0004 $!!
I'm impressed of the Kraken bitcoin fee to send bitcoin to a wallet. It's 2mBTC, around 3$ !!!
Why is it so high?
The ripple fee is only 0.02 ripple therefore 0.0004 $!!
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