_ Here's how it works: Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top up vote 4 down vote favorite If I buy crypto-currency at, for example, Kraken, how much does it effectively cost me to buy it and move it to another wallet or exchange?exchanges buy-bitcoins sell-bitcoins exchange-fees up vote 6 down vote Essentially, you have to factor in 3 fees in a purchase: 1.Deposit fee (if applicable) This is usually a fee for wire transfers, and from my experience is only relevant if you deposit cash across economic zones, albeit this is slowly reducing to 'anywhere to asia', or outside of the SEPA zone.Kraken charges 5€ per wire transfer, SEPA transfers are free as of the time of writing this post.Trade fee This fee depends on 2 factors: Your current trade volume tier, which you can find at the top right of your account on the Kraken webpage.This is calculated in fiat currency, and based on the traded volume in the past 30 days.

The order type you buy your currency with.A Taker fee is charged, if you buy using 'market' orders - that means you'll get the best available price on the market for the volume of currency you'd like to buy/sell.If you buy using any other order type, you'll be charged the maker fee.You'll notice that the taker fee is higher than the maker fee - this is because it is assumed that buying via market orders takes away liquidity from the market (there are less offers available), whereas limit and other order types add liquidity to the market (it adds to the offers available on the market).* *It is worth noting that some exchanges still charge you the taker fee, despite quoting using limit orders - this usually happens if you quote an existing order, causing your order to resolve instantly.Bitstamp is such one example.Withdrawal Fee (if applicable) This fee is charged with any withdrawal you make from your account.On Kraken, this fee is 0.0005 BTC for BitCoin, and 0.02 LTC for LiteCoin withdrawals.

Additional fees are charged if you use BitGo, which adds an additional 0.1% cost to your withdrawal.bitcoin ticker stockIn cases where you may need your BitCoins fast, this may be worth it.bitcoin to usd 2007You can check on the fees for other currency on their respective withdrawal page on your Kraken Account's website under the Funding tab.bitcoin api send moneyBringing it all together This put all together leaves you with the following (slightly unwieldy) formula to calculate your actual cost of purchasing currency at Kraken: (Deposit Fee) + (Order Volume * Quote Price) + ((Order Volume * Quote Price) * Transaction Fee) + (Withdrawal Fee * Quote Price) Please keep in mind that your bank and any recipient you send your currency to may also charge you fees; these will have to be factored in as well.bitcoin payout paypal

Example: You'd like to buy 1 Bitcoin @ 500€, deposit via bankwire, use a market order and transfer it via BitGo Instant.bitcoin mit paypal zahlenYour Trade Volume Tier is 1.bitcoin accepted here psdDeposit Fee = 5€ Order Volume = 1 Quote Price = 500€ Transaction Fee = 0.0026 (or 0.26%) Withdrawal Fee = (0.0005BTC + (Order Volume * 0.001)) * Quote Price Gives you this: (5€) + (500€ * 1) + ((500€ * 1) * 0.0026) + ((0.0005 + 0.001 * 1)) * 500€) = 507.05 € Your Answer Sign up or log in Sign up using Google Sign up using Email and Password Post as a guest Name Email discard By posting your answer, you agree to the privacy policy and terms of service.bitcoin utahBrowse other questions tagged exchanges buy-bitcoins sell-bitcoins exchange-fees or ask your own question.bitcoin to 10k

Blockchain 101Blockchain for businessBlockchain for investors There are a lot of options to buy Bitcoins, available in nearly every country of the world from, Gift cards, ATM, local Traders, broker, exchanges:  Our ultimate guide explains, how to buy Bitcoin anywhere in the world.Maybe you heard about this crazy cryptocurrency Bitcoin.ethereum wavesThe future of money, the revolution of payment, the digital gold, slayer of capital controls, holy grail of Fintech.Now you maybe want to know more.The best way to learn is just to try it.Buy a Bitcoin, pay with it, store it in your digital wallet, watch the price rise or go down.But where can you buy it?And how?For many people, the first acquisition of a Bitcoin is a terrifying process.It seems so complicated.But actually, it is not.There are a lot of options to easily, fast and comfortably buy your first Bitcoin.Which one is the best depends on your country and your preferences?If you are in a hurry, you can just click on the link in the table to find out your options on how to buy Bitcoin.To find the perfect method to buy your first Bitcoin however you should first take into account several factors:Depending on these factors you should easily be able to decide which platform fits your needs.This guide starts with explaining what options you have to disclose private information (or not disclose it) and what payment channels you can use.

After this, the guide presents the commons methods to buy Bitcoin and gives an overview of several platforms in several countries.Bitcoin is a financial tool and thus subject to financial regulation in most jurisdictions.Nearly everywhere Anti-Money-Laundering-Rules (AML) are applied to platforms that sell Bitcoins or enable users to buy and sell Bitcoins.Most of these platforms have to adopt Know Your Customer rules (KYC) to verify the identity of its users.Since Bitcoin transactions are saved publicly visible on the blockchain and can be traced back, the degree of private information you disclose with buying Bitcoins can have serious implications on your privacy.There are several grades of KYC with an increasing amount of private information you have to disclose.The following list starts with the lowest grade:Bitcoin is money, but to buy Bitcoins, you need to send money to someone else.The more advanced the financial system of your country is, The better the financial system you live in, the easier it is to exchange your money in Bitcoins.The movement of old fiat-money is the biggest obstacle in the flow of Bitcoin trading.

If you use a slow and expensive payment channel, your acquisition of your Bitcoin is slow and expensive.If you use a fast channel, you can buy Bitcoins fluidly.Here is an incomplete not-complete list of commons means of payment  to buy Bitcoin:Now we‘re coming closer to the acquisition of your Bitcoin.In this part of our guide, we present you several common models that enable you to change fiat-money to digital cash – in Bitcoin.Each model has its own advantages and disadvantages.Bonus: The Most Comprehensive Digital Wallet Guide: Step-by-Step ExamplesDespite the proof of identity requirements, remember exchanges and wallets don’t provide the same protections banks do.For example, there is often no or limited insurance for your account if the exchange goes out of business or is robbed by hackers, such as was the case with the infamous failed exchange Mt Gox.Bitcoin does not have legal status as a currency in most of the world, and authorities usually do not know how best to approach thefts.

Some larger exchanges have replaced customer funds after a theft from the exchange itself, but at this stage, they are not legally obliged to do so.Worldwide: Nearly everywhere in the world, you have a chance to use local bitcoins, BitSquare or a Bitcoin ATM.While these are options you could use, it is worth to look for further options available in your country.The USA and Canada are two of the biggest markets for Bitcoin buyers.Buyers can choose from a wide variety of options to buy Bitcoins.In both countries, you find beside LocalBitcoins and ATMs the direct vendors Coinbase, Circle, and India coin, the P2P-market Paxful and the exchange Kraken.Other than North America, Middle, and South America just discovered Bitcoins some years ago, mostly in 2014/2015.Most exchanges are relatively new, and due to the lower volume and smaller liquidity, buyers have to pay more in fees and for the spread.Several exchanges are available in some countries of South and Middle America: Satoshi Tango is a direct vendor for Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, and Peru; Bitex.la offers services in Argentina, Chile, Colombia, and Uruguay.The P2P-market local bitcoins is available in most countries of Latin America.Any coin-direct (SEPA, Sofort, Giropay, Ideal, MyBank, TrustPay), BitIT (Neosurf Prepaid Voucher, not available in every country), BitPanda (SEPA, Sofort, Skrill, Credit Card, Neteller, PayPal), BTCDirekt (SEPA, Sofort, Credit Card, Giropay, Neteller), Coinify (SEPA, Credit Card, PayPal), CoinMate (Sofort, SEPA, Money Polo), HappyCoins (Sofort, Ideal, Mister Cash, SEPA, Giropay, MyBank), Indacoin (Credit Card), Spectrocoin (Sofort, Giropay, IDeal, Perfect Money, SEPA).While the platforms above just sell Bitcoin and offer no or no advanced online wallet, Coinbase and Circle online wallet with the option to buy Bitcoin with bank transfer or credit card are available in most European countries.Buy Bitcoin In AustriaCitizens of Austria can buy Bitcoins with gift cards from bitcoinbon.at that are sold in many traffic shops.

This is comfortable, but the relatively expensive method to buy Bitcoins.Buy Bitcoin In GermanyFor Germans, the Fidor-Bank is a good start to buy Bitcoins.This online-bank partners with Bitcoin.de and Kraken, making the trading on these platforms significantly faster and more comfortable.On Bitcoin.de customers of Fidor can immediately achieve full KYC status and use the so-called ExpressTrade. .In nearly every European country localbitcoins is available.Due to the good currency exchange between local currencies and Euro many people in European countries use the big European platforms (Kraken, bitcoin.de) to buy Bitcoins.Since high fees and a big spread on small exchanges can add a huge premium on the price, it is often cheaper to change the local currency into Euro and use the Euro-platforms which mostly accept clients from whole Europe.An easy method is to pay with credit card if available.Your credit card provider earns on the currency exchange spread and fee, but you can buy Bitcoins fast and comfortably.Due to the unclear legal situation of Bitcoin in Russia, only a few exchanges and brokers exist.