Benefits of Laundry Service

There is no denying how hectic our lives have become, and working nonstop means that there is very little time left for mundane tasks. People in this technological era are even unable to complete…


独家优惠奖金 100% 高达 1 BTC + 180 免费旋转

Cryptocurrency Exchange Fees Explained

It is somewhat confusing for me to understand the different exchanges fees in the cryptocurrency market when I first started trading them. It took me sometime to understand what fees are which. Hopefully they can help you too.

Offer Fee/Place Order Fee/Advertisement Fee/Maker Fee

Buying Fee/Taker Fee

Trading Fee/Transaction Fee

Exchanges make the most amount of money from these fees. This fee is essentially the commission the exchanges charge for facilitating this trade. These fees are usually a percentage of the trade fee. The bigger the trade is, the more trading/transaction fee they charge. Some exchanges charges both makers and takers and others charge only the makers for this fee.

Cancel Fee

Some exchange do charge a cancel fee when you cancel an advertisement or a listed order. This fee is usually present when the offer fee/advertisement fee is free. You do not see this fee often.

Network Fee/Withdrawal Fee

This fee is pretty common in most exchanges. It is usually charged when you withdraw your digital assets from the exchange and transfer them out to another wallet. The network fee is paid to ensure that it is processed on the destination blockchain. For example the fee to withdraw BTC might vary or be adjusted to ensure that the transaction is confirmed when sent and not stuck in an unconfirmed state.

These are probably most of the commonly used fees. Do let me know if there are some other fees out there that needs to be added.

Thank you!

Add a comment

Related posts:

I Found A Reason to Live in the Great Museums of Europe

Its not a global tourist magnet in the way that the Louvre is — and perhaps that’s all to the best. But this amazing collection of masterpieces in the heart of Madrid sits with me as the greatest…

Electus pivots into Governance

The original plan was to be an election platform aiming to decentralize voting with ideas like liquid voting etc. However, I have been talking to people in the election space in May, since we were…

Why Kenya Farmers Are Nuts about Macadamia

Are you a farmer and you have grown tired of planting crops like maize, coffee, and tea that fetch low returns on investment? Here is good news for you … Majority of Kenyan farmers are beginning to…