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.
From my previous experience its not that easy to get back a lost it stolen bitcoin or funds lost to fake brokers because these scammers are very smart and they will cover their tracks but if you manage to find a trustworthy and reliable Recovery company, I said trustworthy and reliable because many scammers are out there disguising as Recovery agents and will only take your money without recovering your bitcoin, I was a victim of such myself after loosing my bitcoin to an investment scam I sort for help and I met few recovery agents and was scammed by a particular one again. Luckily for me I was referred to a company on telegram. You can send a complaint mail to recoverywealthnow360(@)gmail(.)com, he should be able to help you. They Recovered my stolen bitcoin after risking a token to their Recovery program. It was worth it at the end.
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