Hello everyone,
I'm impressed of the Kraken bitcoin fee to send bitcoin to a wallet. It's 2mBTC, around 3$ !!!
Why is it so high?
The ripple fee is only 0.02 ripple therefore 0.0004 $!!
I'm impressed of the Kraken bitcoin fee to send bitcoin to a wallet. It's 2mBTC, around 3$ !!!
Why is it so high?
The ripple fee is only 0.02 ripple therefore 0.0004 $!!
It's not really their fault for charging such a high amount of fees.
They target consumers they want visiting their site is whales anyways which will generate crazy volume, to them, 2mbtc is absolutely tiny amount of money. It is peanuts to them, they can execute as many withdraws as they want all week long, all day long.
Bitcoin network fees can't be changed by them, therefore they have to charge it, otherwise people will abuse their service as a microtransaction processor.
When i open up the BTC withdrawal page it says the fee will be 0.001BTC, but on their support page they say it's 0.0025BTC. 
well 1 mBTC is better than 2.5 mBTC right ? :p
They probably changed it due to recent rises in fees. Obviously it's better, but honestly, it won't make that big of a difference. You have to understand though that if you deposit, there are fees involved in that too, especially if its small amounts. So basically the withdrawal fee is deposit+withdrawal fees combined.