Crypto exchange Rates
Huge transaction fees are a big problem facing cryptocurrency traders. Bitcoin is still in its early stages, and fees may vary wildly depending on the companies offering them. The fees levied are influenced by several factors such as your country of residence, the method of payment, currency and the type of trade. Cryptocurrency exchange rates are basic fees imposed by an exchange for using their platform. Trade fees are imposed on users who trade cyptos for different currencies. Trade fees may be referred to as “maker” or “taker” depending on the type of operation a trader performs. Deposit or withdrawal fees are levied for depositing or withdrawing funds from an exchange.
Coinbase is perhaps the most popular cryptocurrency exchange in the world. Currently, traders can exchange Bitcoins, Ethereum and Litecoins, USD, British Pound, and Euro on a clean and user-friendly interface. Trade Fees: 1.49% on currency exchange made on Coinbase accounts Deposit fee (Credit cards): 3.99% Bank Deposit: US – 1.49%, EUR/UK (SEPA): Free Bank Withdrawal: US – 1.49%, EUR/UK (SEPA): €0.15 Transaction time: Credit cards purchases are typically instant. However, high traffic on the blockchain network may push transaction time further. Bank transfers could take up to 3-5 business days.
Coinmama is an Israel-based Bitcoin broker established in 2013. Users can easily buy Bitcoins using credit cards. Coinmama allows users to exchange the USD, Bitcoin, Euro, and Ether. Users have often complained about the exchange’s hefty rates owing to chargeback issues. Trade fees: 7.85% Deposit fee (Credit cards): 5% Transaction time: New accounts may show transactions pending for a few hours, however, subsequent transactions are completed as soon as payment is received and verified.
Coinhouse is a regulated cryptocurrency exchange based in Paris France established in 2014. The exchange allows users (France citizens & other Europeans) to trade their local currencies for Bitcoins. Coinhouse accepts credit cards and has no chargebacks. Transaction fees depend on the accumulated amount of Bitcoins that a user has bought from the exchange.0 to 500€: 10% 500€ to 1,500€: 9% 1,500€ to 3,000€: 8% 3,000€ to 5,000€: 7% 5,000€ to 10,000€: 6.5% Transaction time: credit card purchases are usually instant.
Poloniex is a US-based crypto exchange that offers advanced trading features and maximum security. The exchange allows users to trade virtually every major cryptocurrency. Notable cryptocurrency supported by the exchange include Litecoin, Ripple, Dash, Zcash, Ethereum classic, and Monero. Maker fee: 0.15% Taker fee: 0.25% Transaction time: Withdrawals take anything between 10 minutes to 24 hours
By Felix Kingston