Title: Finding and understanding fees Post by: Spavane on September 30, 2021, 05:53:21 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 (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%)? Title: Re: Finding and understanding fees Post by: jackg on September 30, 2021, 06:01:16 PM 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.
Title: Re: Finding and understanding fees Post by: bL4nkcode on September 30, 2021, 06:14:40 PM 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). Title: Re: Finding and understanding fees Post by: Findingnemo on September 30, 2021, 06:23:28 PM I'm having some difficulty understanding kraken fees. 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.According to https://support.kraken.com/hc/en-us/articles/201893638-How-trading-fees-work-on-Kraken (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%)? Title: Re: Finding and understanding fees Post by: JeromeTash on September 30, 2021, 09:46:31 PM I'm having some difficulty understanding kraken fees. You are confusing the two.According to https://support.kraken.com/hc/en-us/articles/201893638-How-trading-fees-work-on-Kraken (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.) 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 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 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.Title: Re: Finding and understanding fees Post by: Mahanton on September 30, 2021, 09:56:04 PM I'm having some difficulty understanding kraken fees. You are confusing the two.According to https://support.kraken.com/hc/en-us/articles/201893638-How-trading-fees-work-on-Kraken (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.) 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 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. Title: Re: Finding and understanding fees Post by: BitMaxz on September 30, 2021, 11:06:57 PM 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 Title: Re: Finding and understanding fees Post by: Hippocrypto on September 30, 2021, 11:10:44 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 (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. Title: Re: Finding and understanding fees Post by: martina14 on October 01, 2021, 05:57:02 AM 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 (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. |