does kraken charge to withdraw

Kraken charges varying withdrawal fees depending on the cryptocurrency or fiat currency being withdrawn, with exceptions for small withdrawals, Instant Buy funds, and whitelisted addresses.

Nov 03, 2024 at 05:02 am

Does Kraken Charge to Withdraw?

1. Withdrawal Fees

Kraken does charge withdrawal fees for certain cryptocurrencies and fiat currencies. The fee structure varies depending on the currency withdrawn.

Cryptocurrencies:

• Bitcoin (BTC): 0.0005 BTC (approximately $20)
• Ethereum (ETH): 0.005 ETH (approximately $5)
• Tether (USDT): No fee
• Other Cryptocurrencies: Fees vary

Fiat Currencies:

• USD: $5 (wire transfer) or $0 (ACH transfer)
• EUR: €0.09 (SEPA transfer)
• GBP: £0.20 (Faster Payments transfer)
• Other Fiat Currencies: Fees vary

2. Exceptions

There are a few exceptions where Kraken does not charge withdrawal fees:

• Withdrawals using Kraken Instant Buy funds (only in certain regions)
• Small withdrawals of certain cryptocurrencies (e.g., less than $5 worth of ETH)
• Withdrawals to a whitelisted address (must be enabled in user settings)

3. Minimum Withdrawal Amounts

Kraken has minimum withdrawal amounts for certain cryptocurrencies:

• BTC: 0.002 BTC
• ETH: 0.01 ETH
• LTC: 0.01 LTC
• XRP: 1 XRP
• Other Cryptocurrencies: Minimums vary

4. Tips to Minimize Withdrawal Fees

• Consider using ACH or SEPA transfers for fiat withdrawals to save on fees.
• Utilize Kraken Instant Buy funds when possible to avoid withdrawal fees.
• Withdraw larger amounts to spread the fees over a greater amount.
• Choose cryptocurrencies with lower withdrawal fees (e.g., USDT).

5. Fee Transparency

Kraken's withdrawal fees are clearly displayed on its website and in the trading interface before you initiate a transaction. This ensures transparency and allows users to plan their withdrawals accordingly.