Kraken BTC Withdrawal Fee
When you want to withdraw your BTC funds from your kraken account you have to pay a fee. Until yesterday this used to be 0.0005 BTC, which comes down to around $1.20 per transaction.
Since today it seems they have increased there fee to 0.0025 BTC, an increase of 500%!
This means that for every BTC transaction you will now pay almost $7.
It almost seemed they made a mistake an instead of cutting in in half (which would be 0.00025) they have now increased it by 5 times.
Bitcoin transaction fee
With the enormous increase in interest over the last few weeks the transaction fees has also gone up, as more and more transaction are being placed which cause demand on the system. Paying a transaction fee of over $7 however seems to be incredibly high and might hinder the potential growth of Bitcoin (and other currencies).
Unless Bitcoin solves this issue it might become a big issue over time.
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Note: I have reached out to Kraken and are waiting for an explanation about their fees. Hopefully I will have an answer soon.
