Post
Topic
Board Beginners & Help
Re: Understanding Tradehill Commission Fees
by
BitFun
on 08/02/2012, 01:17:29 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

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.

Thanks so much, so if i buy my entire USD wallet's worth of bitcoins then it will just subtract the fee from what I'm purchasing correct? Also this means i can just take the transaction fee (doubled to include both buy and sell) from the USD buy amount, and as long as my profit will be larger than that I'm in the green correct?