Cryptocurrency Q&A
How to reduce Kraken fees?
How to reduce Kraken fees?
CryptoSavant
Sun Sep 22 2024
|
6 answers
1672
Can you elaborate on some strategies for minimizing Kraken fees? Are there specific transaction types or times of day that tend to have lower fees? Are there any account tiers or loyalty programs that offer fee discounts? Additionally, are there any best practices for structuring trades or deposits to optimize fee savings? I'm interested in understanding the various methods that traders can employ to reduce their Kraken-related expenses.
6 answers
Tommaso
Tue Sep 24 2024
BTCC's fee schedule, like many other exchanges, is based on a user's 30-day rolling volume. This means that traders who consistently engage in high-volume trades can expect to pay lower fees on their subsequent transactions.
Was this helpful?
245
65
Bianca
Tue Sep 24 2024
The concept of 30-day rolling volume refers to the cumulative amount of cryptocurrency traded by a user within a 30-day period. This metric serves as a benchmark for determining the trader's eligibility for discounted fees.
Was this helpful?
395
87
CryptoProphet
Tue Sep 24 2024
As a trader's 30-day rolling volume increases, they move into higher tiers, each of which offers progressively lower trading fees. This encourages traders to remain active on the platform, as they can save significant amounts on transaction costs.
Was this helpful?
253
56
Valentina
Tue Sep 24 2024
The fee reduction mechanism is beneficial for both traders and exchanges. Traders benefit from reduced costs, while exchanges can retain users by offering competitive fee structures.
Was this helpful?
274
97
BitcoinBaron
Tue Sep 24 2024
The fee structure at cryptocurrency exchanges is typically designed to incentivize active traders. One such approach is to base fees on a user's 30-day rolling trading volume. This system ensures that the more a trader participates in the market, the more they benefit from reduced fees on their subsequent trades.
Was this helpful?
113
30
Load 5 more related questions
