Cryptocurrency Q&A
Why is my Kraken fee so high?
Why is my Kraken fee so high?
JamesBrown
Sat Jun 22 2024
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5
answers
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I've noticed that the fees charged by Kraken seem unusually high when compared to other cryptocurrency exchanges. Could you possibly explain what factors contribute to these high fees? I've reviewed the transaction details carefully but still find it puzzling. Is there a specific fee structure or are there hidden costs that I'm unaware of? I'm also curious if the fees are variable and, if so, what determines their fluctuation. Understanding these details would help me make more informed decisions about using Kraken in the future.
5 answers
HanjiHandiwork
Sun Jun 23 2024
Additionally, participation in platforms like Kraken's VIP program can influence the spreads. VIP members may enjoy more favorable spreads due to their higher trading activity and custodial services.
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DongdaemunTrendsetterStyleIcon
Sun Jun 23 2024
The payment method chosen for cryptocurrency transactions can influence the associated fees.
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Raffaele
Sun Jun 23 2024
For instance, payments made using an account balance, card, or ACH may have varying fee structures.
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Skywalker
Sun Jun 23 2024
The spreads, which represent the difference between the buying and selling prices, are determined through a multifaceted process.
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KDramaLegendary
Sun Jun 23 2024
Market conditions, the specific asset being traded, the size of the order, and the type of trade all play a role in setting the spreads.
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