Save Money With DoNotPay: How to Fight and Waive Kraken Fees
Founded in 2011, Kraken is a crypto exchange platform that allows users to buy currencies using fiat money. are arguably one of the lowest fees on the market. It favors both low and high-volume traders.
If you are a new trader, you may have difficulty fighting or waiving Kraken fees since the platform is not easy to use. DoNotPay can help you with the process.
How Much Does Kraken Charge per Transaction?
are one of the lowest in the industry. The company calculates transaction fees based on your trade volume in a 30-day rolling period. The more your transactions, the fewer fees you'll pay.
Kraken Fees Explained
The Kraken trading platform supports over 88 assets and seven fiat currencies for withdrawal and deposits to and from bank accounts. If you are a customer, you can trade, buy, or sell various digital assets, including; LTC, ADA, Ripple's XRP, USDC, BTC, EOS, XDG, and BCH.
Kraken has seven base currencies. They include;
- The US Dollar.
- The British Pound.
- The Euro.
- The Japanese yen.
- The Swiss franc.
- The Australian Dollar.
- The Canadian dollar.
Kraken transaction fees are based on your past 30-day trading volume. Additionally, you may incur additional margin rollover and margin opening fees when you use the Kraken leverage feature.
Kraken's fee schedule is as follows;
|Between $0 to $50,000
|0.26% taker fee or 0.16% maker fee
|Between $50,001 to $100,000
|0.24% taker fee or 0.14% maker fee
|Between $100,001 to $250,000
|0.22% taker fee or 0.12% maker fee
|Between $250,001 to $500,000
|0.20% taker fee or 0.10% maker fee
|Between $500,001 to $1,000,000
|0.18% taker fee or 0.08% maker fee
|Between $1,000,001 to $2,500,000
|0.16% taker fee or 0.06% maker fee
|Between $2,500,001 to $5,000,000
|0.14% taker fee or 0.04% maker fee
|Between $5,000,001 to $10,000,000
|0.12% taker fee or 0.02% maker fee
|0.10% taker fee or 0% maker fee
How to Avoid Kraken Fees
To minimize transaction fees on Kraken, use Kraken Pro. Kraken Pro allows you to pay less depending on your trading volume. After every trade, the system will reassess your eligibility tier, and you will start earning discounts immediately.
Does Kraken Have Hidden Fees?
As discussed above, Kraken uses a maker/taker fee schedule for all trades. This means that your fees will vary depending on your trading volume. You may incur additional costs: margin fees (margin rollover fees and margin opening fees). Note that these additional fees only apply to leverage trading.
Other fees you will incur are the standard fees for opening and closing a margin position. However, Kraken can avert the fees if you settle a position instead of closing it.
Kraken transaction charges are based on an order's total value. The company does not deduct any collateral they hold from the amount.
Overview of Kraken vs. Coinbase Fees
Kraken and Coinbase are two of the most renowned crypto exchange platforms worldwide. Both Kraken and Coinbase allow customers to use fiat money to buy currencies.
Compared to Coinbase, Kraken has lower fees, more currency options, and strong security protection. On the other hand, Coinbase is easy to use, and customers can sell or withdraw using PayPal.
Kraken fees are; 0% to 0.26% per trade, 0.5% plus 0.9% or 1.5% for ACH purchases, and 3.75% + €0.25 for credit card purchases while Coinbase fees are; 0.50% per trade maker-taker, 1.49% for bank account purchases or Coinbase USD wallet, and 3.99% for credit card purchases.
How to Fight and Waive Kraken Fees on Your Own
You will have to contact customer service to fight and waive Kraken fees yourself. They may ask you to fill out online forms or write an email to the company. The company may reject or accept your appeal depending on the reasons for your request.
This process may be tedious as it will take up a lot of your time, especially if you are unfamiliar with the process. Your appeal may also be unsuccessful.
How to Fight and Waive Fees on DoNotPay
Appealing Kraken fees on your own can be tiring and time-consuming. DoNotPay allows you to complete the process in a few minutes.
Here's how you can use DoNotPay to appeal Kraken fees:
- Search "appeal fees" on DoNotPay, choose the Fight and Waive Fees product, and select the type of fee you want to appeal.
- Select the merchant you want to appeal fees for and enter the details of your transaction, including an associated account if you have one.
- Submit your case! DoNotPay will generate the best argument for your case and make sure your fee waiver request gets sent to the merchant for processing.
And that's it. DoNotPay will file the appeal on your behalf with your details. You should hear back from them directly with further questions/confirmation regarding your demands.
Why Use DoNotPay to Fight and Waive Kraken Fees?
At DoNotPay, we have several years of experience helping people waive Kraken fees and get refunds. We have helped thousands of people successfully appeal Kraken fees.
DoNotPay makes the appeal process faster and easier. You won't spend hours trying to file an appeal, and neither will you have to fill several forms so that you can successfully file your appeal.
Appeal your fees with just a few clicks of a button.
DoNotPay Works Across Different Companies and Entities
Fighting and waiving Kraken fees is one of the many problems that DoNotPay can help you solve. DoNotPay can also help fight and waive fees for other platforms and entities like
What Else Can DoNotPay Do?
DoNotPay can also help you with;
- Discovering and applying for scholarships.
- Contacting embassies and consulates.
- Notarizing documents.
- Standardized legal documents.
- Creating passport photos.
- Reducing property taxes.
- Airline flight compensation.
- Appeals for banned accounts.
- Filing complaints
Let DoNotPay handle the details of life, so you can focus on what truly matters. Contact us today to get started.