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Author Topic: [ANN] KRAKEN.COM - Exchange with USD EUR GBP JPY CAD BTC LTC XRP NMC XDG STR ETH  (Read 628507 times)
Dargo
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April 03, 2015, 09:44:43 PM
 #2781

We have set the fees back to the old way of doing it. Sorry that we didn't provide advanced warning, but the developers thought we had changed it this way before without any comment from clients, so they thought that people didn't care one way or the other. We understand, though, that it can be a problem for accounting and advanced notice should have been provided. We will definitely provide such notice if we change it in the future.

We would love to hear feedback from others on their preference with the fees - i.e. do you have a preference for what the default fee currency is and why.

Kraken is the only exchange I know, where you can choose from which currency pay the fees (I think there is one other, but I don't remember). But it's only possible in the advanced settings, isn't it?  
Please make it possible to choose the default fee currency for all normal orders.

Also Bitstamp reduce the fee from fiat only. I will call it "way1". (at least they did when I did my last trade there, don't kow how it's now).

All other exchanges, like Bitfinex, btc-e, bitcoin.de,..  do it exactly the other way round you introduced it.
So if you buy bitcoins there, they will take the fee from the bought bitcoins. And if you sell there, they take them from the Fiat you get.
I will call this "way2".

When it's deducted from the bought btc amount (way2):
You buy 1 bitcoin, but only get 0.997BTC, if the fee is 0.3%. And on most exchanges the minimum trade amount is 0.01, so you can't even buy the missing 0.003 BTC -.-
So to get exaclty 1 bitcoin I have to buy 1.003009027 BTC ... you don't see why this is annoying? Cheesy
But this way of doing it is quiet logical, because you never have too few balance.

The other way round, like Kraken did today ("way3")... when you think about, it also does make sense in some way and you don't have the problem with buy 1btc and get 0.997, so that's good.

But in the end, both methods (way2 and way3) have the same result:
Ending up with more/less Btc/Fiat, than you should have.

When you buy and sell btc with way3:
starting balance:  200€ and 2BTC and 0.1% fee.
- buy 1BTC for 100€/BTC    ->  with fee I pay 100.10€   ->  now I have 99.90€ and 3 BTC
- sell 1BTC for 100.20€/BTC  (so it should be +-0)  ->with fee it will reduced by 1.001BTC -> now I have 200.10€ and 1.999BTC.
I will loose more and more btc when it's way2 or way3.

That's why I prefer way1.

Thanks Serpens - we will leave it the old way (way1) for now and if we change it will give plenty of warning and hopefully by that time have in place a way to set the default fee currency to whatever you want for each currency pair.
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ICFiedler
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April 03, 2015, 10:16:51 PM
 #2782

Fidor users might have wondered why kraken charges 0.09€ per withdrawal, although sending money from fidor to fidor is cost free and kraken does not seem to charge any excess charges anywhere elese.

Today I found out out that the fidor API is not cost free but actually has to be purchased. I am pretty sure this is the reason for the 0.09€ fee. And I am wondering: is it also the reason why the frequency of the payment bot is set to 1 hour and not more often?
Serpens66
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April 03, 2015, 10:38:21 PM
Last edit: April 03, 2015, 10:59:24 PM by Serpens66
 #2783

Fidor users might have wondered why kraken charges 0.09€ per withdrawal, although sending money from fidor to fidor is cost free and kraken does not seem to charge any excess charges anywhere elese.
Today I found out out that the fidor API is not cost free but actually has to be purchased. I am pretty sure this is the reason for the 0.09€ fee. And I am wondering: is it also the reason why the frequency of the payment bot is set to 1 hour and not more often?

I don't thing the charge of 0.09€ has to do with one special thing. I guess it's just an additional way to earn money and pay the complete operating costs of all aspects of an exchange. So you also could ask why they charge 0.3% fee for trading, if the operating costs is just 0.01% per trade (just example numbers).

But would be interesting to hear, if I'm right or not ^^

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Dargo
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April 03, 2015, 11:01:13 PM
 #2784

Fidor users might have wondered why kraken charges 0.09€ per withdrawal, although sending money from fidor to fidor is cost free and kraken does not seem to charge any excess charges anywhere elese.
Today I found out out that the fidor API is not cost free but actually has to be purchased. I am pretty sure this is the reason for the 0.09€ fee. And I am wondering: is it also the reason why the frequency of the payment bot is set to 1 hour and not more often?

I don't thing the charge 0f 0.09€ has to do with one special thing. I guess it's just an additional way to earn money and pay the complete operating costs of all aspects of an exchange. So you also could ask why they charge 0.3% fee for trading, if the operating costs is just 0.01% per trade (just example numbers).

But would be interesting to hear, if I'm right or not ^^

My understanding is that with the bank fees we just pass along the per transfer fees that we are charged by our partner banks or payment providers. We have other costs associated with the payment options we provide, so there is no profit in the bank fees. All the bank fees do is help reduce our costs on the banking side of operations by a small amount.

Edit: our CEO asked me to add that bank fees also serve as a kind of spam control
dsattler
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April 04, 2015, 07:08:13 AM
 #2785

Fidor users might have wondered why kraken charges 0.09€ per withdrawal, although sending money from fidor to fidor is cost free and kraken does not seem to charge any excess charges anywhere elese.
Today I found out out that the fidor API is not cost free but actually has to be purchased. I am pretty sure this is the reason for the 0.09€ fee. And I am wondering: is it also the reason why the frequency of the payment bot is set to 1 hour and not more often?

I don't thing the charge 0f 0.09€ has to do with one special thing. I guess it's just an additional way to earn money and pay the complete operating costs of all aspects of an exchange. So you also could ask why they charge 0.3% fee for trading, if the operating costs is just 0.01% per trade (just example numbers).

But would be interesting to hear, if I'm right or not ^^

My understanding is that with the bank fees we just pass along the per transfer fees that we are charged by our partner banks or payment providers. We have other costs associated with the payment options we provide, so there is no profit in the bank fees. All the bank fees do is help reduce our costs on the banking side of operations by a small amount.

Edit: our CEO asked me to add that bank fees also serve as a kind of spam control

That's reasonable. IMHO an amount of 9 cents is not worth to discuss...

Bitcointalk member since 2013! Smiley
ICFiedler
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April 04, 2015, 02:39:01 PM
Last edit: April 04, 2015, 04:02:16 PM by ICFiedler
 #2786

Fidor users might have wondered why kraken charges 0.09€ per withdrawal, although sending money from fidor to fidor is cost free and kraken does not seem to charge any excess charges anywhere elese.
Today I found out out that the fidor API is not cost free but actually has to be purchased. I am pretty sure this is the reason for the 0.09€ fee. And I am wondering: is it also the reason why the frequency of the payment bot is set to 1 hour and not more often?

I don't thing the charge 0f 0.09€ has to do with one special thing. I guess it's just an additional way to earn money and pay the complete operating costs of all aspects of an exchange. So you also could ask why they charge 0.3% fee for trading, if the operating costs is just 0.01% per trade (just example numbers).

But would be interesting to hear, if I'm right or not ^^

My understanding is that with the bank fees we just pass along the per transfer fees that we are charged by our partner banks or payment providers. We have other costs associated with the payment options we provide, so there is no profit in the bank fees. All the bank fees do is help reduce our costs on the banking side of operations by a small amount.

Edit: our CEO asked me to add that bank fees also serve as a kind of spam control

That's reasonable. IMHO an amount of 9 cents is not worth to discuss...

I did not intend to question the €0.09 fee. Since the reason for the fee lies in fidor API usage fees (kraken pays Fidor), I was ratther wondering: is that the reason why the kraken payment bot only checks fidor playments once/hour? That translates into: is the fidor API usage fee a flat fee or a per usage fee?
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April 04, 2015, 10:16:32 PM
 #2787

Subscribed.
Dargo
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April 05, 2015, 05:14:43 AM
 #2788

I did not intend to question the €0.09 fee. Since the reason for the fee lies in fidor API usage fees (kraken pays Fidor), I was ratther wondering: is that the reason why the kraken payment bot only checks fidor playments once/hour? That translates into: is the fidor API usage fee a flat fee or a per usage fee?

I'll check for you and find out why the update is every hour.
ICFiedler
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April 05, 2015, 08:26:20 AM
 #2789

I did not intend to question the €0.09 fee. Since the reason for the fee lies in fidor API usage fees (kraken pays Fidor), I was ratther wondering: is that the reason why the kraken payment bot only checks fidor playments once/hour? That translates into: is the fidor API usage fee a flat fee or a per usage fee?

I'll check for you and find out why the update is every hour.

I love this support!
Dargo
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April 09, 2015, 01:26:35 AM
 #2790

I did not intend to question the €0.09 fee. Since the reason for the fee lies in fidor API usage fees (kraken pays Fidor), I was ratther wondering: is that the reason why the kraken payment bot only checks fidor playments once/hour? That translates into: is the fidor API usage fee a flat fee or a per usage fee?

I'll check for you and find out why the update is every hour.

I love this support!

I haven't found any good reason (so far) as to why the update is done every hour and I'm working on having it done more frequently. No promises, but hopefully it will work out.
Dargo
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April 09, 2015, 07:46:03 AM
 #2791

I did not intend to question the €0.09 fee. Since the reason for the fee lies in fidor API usage fees (kraken pays Fidor), I was ratther wondering: is that the reason why the kraken payment bot only checks fidor playments once/hour? That translates into: is the fidor API usage fee a flat fee or a per usage fee?

I'll check for you and find out why the update is every hour.

I love this support!

I haven't found any good reason (so far) as to why the update is done every hour and I'm working on having it done more frequently. No promises, but hopefully it will work out.

Good news - the update is now being done every 5 minutes, so you should see your Fidor-Fidor payments being credited to your account much more quickly.
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April 09, 2015, 03:48:29 PM
 #2792

Good news - the update is now being done every 5 minutes, so you should see your Fidor-Fidor payments being credited to your account much more quickly.

Amazing! Is this for withdrawals, too?
Yunus
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April 09, 2015, 07:46:59 PM
 #2793

Good news - the update is now being done every 5 minutes, so you should see your Fidor-Fidor payments being credited to your account much more quickly.

Amazing! Is this for withdrawals, too?

Yes, the updates should go both ways (checking on deposits and withdrawal requests)
ICFiedler
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April 10, 2015, 07:35:01 AM
 #2794

Good news - the update is now being done every 5 minutes, so you should see your Fidor-Fidor payments being credited to your account much more quickly.

Amazing! Is this for withdrawals, too?

Yes, the updates should go both ways (checking on deposits and withdrawal requests)

Deposit transfer time: 1 minute. Check! :-)
coinpr0n
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April 10, 2015, 08:36:27 AM
 #2795

Good news - the update is now being done every 5 minutes, so you should see your Fidor-Fidor payments being credited to your account much more quickly.

Amazing! Is this for withdrawals, too?

Yes, the updates should go both ways (checking on deposits and withdrawal requests)

Deposit transfer time: 1 minute. Check! :-)

Wow! This is really amazing. I wonder if this will also improve deposits with my bank. It's great already having same-day transfers. Well done, guys!

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April 22, 2015, 11:30:24 AM
 #2796

Hi Dargo.

Just filled in my MtGox claims with you. I have one question if you can answer it; I can't remember if I've sent them (MtGox) my bank account info (nor which was it) but filled in all the other info for you; would that be a problem?

Thanks.

PS: Only got some BTCs in there - no cash at all.

Chaos could be a form of intelligence we cannot yet understand its complexity.
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April 22, 2015, 11:50:28 AM
 #2797

Hi Dargo.

Just filled in my MtGox claims with you. I have one question if you can answer it; I can't remember if I've sent them (MtGox) my bank account info (nor which was it) but filled in all the other info for you; would that be a problem?

Thanks.

PS: Only got some BTCs in there - no cash at all.

Hi macsga,

As long as you provided all the information that you have and submitted the claims form the missing bank account information should not be a problem. Most likely, if the trustee needs further information to evaluate your claim he is going to contact you during the claims evaluation process.

I'll try to get more information on how important the information on your bank account is and get back to you.
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April 22, 2015, 11:58:30 AM
Last edit: April 22, 2015, 12:24:39 PM by SebastianJu
 #2798

Hi Dargo.

Just filled in my MtGox claims with you. I have one question if you can answer it; I can't remember if I've sent them (MtGox) my bank account info (nor which was it) but filled in all the other info for you; would that be a problem?

Thanks.

PS: Only got some BTCs in there - no cash at all.

Hi macsga,

As long as you provided all the information that you have and submitted the claims form the missing bank account information should not be a problem. Most likely, if the trustee needs further information to evaluate your claim he is going to contact you during the claims evaluation process.

I'll try to get more information on how important the information on your bank account is and get back to you.

I know that kraken wanted to help there but is there a chance at all to get something back? If so how much percent?

Where to claim ones damages?

Edit: Nevermind about the "how". I found the email.

Edit2: Besides my question about the chances and the percent i wanted to ask if one choses to be paid in BTC, will the BTC be exchanged from the JPY-Value or the original amount of bitcoin is taken?

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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April 22, 2015, 01:30:48 PM
 #2799

Wow. Exciting stuff happening at Kraken as is becoming usual now.

I have a very unimportant question and a suggestion...

Unimportant question: Is there anyway to change the username with which we signed up on Kraken website? I signed up with a really long name and it is too long so the site's design (CSS) gets messed up a bit.

Suggestion: About the new design, I think it's great. The only thing that bothers me a little is the black used parts of the site. It's generally a good practice to use any off-black color (eg. #111111) in design in stead of pure black (#000000) - it's easier on the eyes.



^ This image should show both of the situations that I'm talking about.

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April 22, 2015, 06:49:43 PM
 #2800

Can i ask what is the cut-off hour for SEPA transfers?

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