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Home » news » Kraken Canceled the Decision to Raise Commission for Withdrawals

Kraken Canceled the Decision to Raise Commission for Withdrawals

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After the recent announcement of a significant increase in commission fees, the popular cryptocurrency exchange Kraken still decided not to raise them. The cryptocurrency trading platform informed users about this in the mailing list.

As noted in the mail of cryptocurrency exchange Kraken, the administration of the trading platform has received a lot of applications from users who wish to sacrifice the speed of transactions for the sake of lower commissions. The withdrawal commission in bitcoin now should be 0.001 XBT (BTC). Also in its mail, cryptocurrency exchange Kraken emphasizes that the reduction of commissions will affect the usual methods of withdrawal, rather than transactions "BitGo Instant."

Commission for the withdrawal of cryptocurrency Litecoin and Gnosis will also decrease to 0.001 LTC and 0.005 GNO, respectively.

In its mailing list, cryptocurrency exchange Kraken stressed that it will study the possibilities of reducing commissions for other digital currencies represented on the trading platform.

It is noteworthy that a few days earlier, in the previous mailing,  Kraken exchange announced a sharp increase in commission fees for such crypto currency as Bitcoin, Tether USD and Gnosis. The new commissions were to be, respectively: 0.0025 XBT, 5 USDT and 0.004 GNO.

Over the past few years the total amount of commissions for transactions in the bitcoin network has grown many times.

Last month, the famous bitcoin-provider Xapo, which for a long time was famous for the complete absence of commissions for transactions, announced that soon users will pay commissions to miners for outcoming transactions.

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