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Guys i am trying to understand how does a 'transaction fee' work and 'widthrawal fee' work on all BTC Exchanges.
Let's simply things and assume i want to BUY BTC on an Exchange that has 0.45% fee for transaction.
The BTC Price currently is 1000$ I have 500$ meaning i would buy 0.5BTC.
Ok, so i paid the Exchange 500$ and created an BUY Order. Immediately in a second it was Matched with a opposite order that was: SELL 3 BTC @ 1000$
So i Got my 0.5BTC for 500$ And his order is now 2.5BTC @ 1000$
1) So do i have my 0.5BTC or it was reduced by 0.48% ? Giving: 0.5BTC - (0.5BTC * 0.048) = 0.5 - 0.024 = 0,476BTC ?
2) What if my Order was partially filled (0.25BTC and 0.25BTC) - does that mean that the fee is applied to both 0.25BTC and 0.25BTC or for the Sum (0.5)
This is Bitcoin related insofar as the currency in the example is bitcoin. This is really a question about exchange rates, and how they work. – KJ O – 2015-10-28T22:48:42.370
@KJO Those questions are ontopic. – Nick ODell – 2015-10-29T02:01:53.833
Not really about bitcoin. Question is about procedures (subject to change anyway) of a specific exchange (without naming which one). – Jannes – 2015-10-29T02:04:13.600
Your math is off, it should be
0.5 - (0.5 * 0.048/100) = 0.49976– Wizard Of Ozzie – 2015-10-29T14:32:47.980@WizardOfOzzie Shouldn't that be 0.0048 ?
EXAMPLE: 0.0113 BTC @ 1149.00USD WHERE FEE = 0.48%
MY FEE = 0.0113 0.0048 = 0.00005424 YOURFEE = 0.0113 (0.048/100) = 0.000005424
In your example there is one extra 0 – PeeS – 2015-10-29T15:05:23.490