12th September 2023 at 10:09 am
#131254
The biggest expense for Kraken is converting USDT or whatever to GBP which is 0.26%. this is high compared to other exchanges. I recently withdrew $12k in MATIC from BC which was free being a VIP, sent it to Bybit, (for some reason BC block withdrawal back to Kraken, some internal error) and after keeping some, sent remains from Bybit to Kraken which cost 5CENTS and from Kraken sold Matic to GBP and withdrew the GBP for £1.95 Total cost for £7000 just under £20
Bybit trading fee is much lower at 0.1% but they don’t support GBP so I would have to use Swift and bank charges 1.75% conversion so no matter how hard I’ve tried I haven’t found a cheaper option than the one I use today