Post
Topic
Board Beginners & Help
Re: Understanding Tradehill Commission Fees
by
deepceleron
on 08/02/2012, 01:11:41 UTC
Tradehill always takes their fee in USD, likely so they don't make half their profit in Bitcoin, and have to deal with trading themselves and accounting weirdness this would cause a business.

If you buy dollars, you spend the amount in bitcoins you specify, and your fee is taken from the dollars you bought. If you buy bitcoins with dollars, you must pay additional dollars as a fee.

Obtained AmountObtained CurrencyPaid AmountPaid CurrencyCommission AmountCommission CurrencyFinal_Obtained AmountFinal_Obtained CurrencyFinal_Paid AmountFinal_Paid Currency
27.2160000000USD2.0000000000BTC0.1469664000USD27.0690336000USD2.0000000000BTC
1.0000000000BTC13.0000000000USD0.0702000000USD1.0000000000BTC13.0702000000USD

(this is with a commission rate of 0.54% - 0.54% of $27.216 is $0.1469664; 0.54% of $13.00 is $0.0702)

The beauty of exchanges is they charge both the seller and buyer a fee for the currency exchange, in essence taxing the same transaction twice.