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Ethereum: Does Cancelling an Order in BTC-E carry a fee?
The Bitcoin-E (BTC-E) Exchange is a popular platform for buying and selling Bitcoin, Ethereum, and other cryptocurrencies. One of the key features of BTC-e is its fees system, which can varied depending on the type of transaction. In this article, we’ll explore when cancelling an order in BTC-e carries a fee and how much you are billed.
Types of orders
Before diving into the fees, let’s first understand the different types of orders that can be placed on BTC-E:
- placed but 0% completed : this means the buyer places a buy order for a specific amount of Bitcoin or ethereum, but the seller does not fulfill the order yet.
- placed but partially completed : In this case, the buyer places a buy order for a specific amount of Bitcoin or ethereum, and some of it is fulfilled. However, not all of it is settled in full.
Fees on Cancelled Orders
Now, let’s talk about the fees associated with Cancelling Orders on BTC-E:
* placed but 0% Completed : When you place an order but it’s canceled before it’s fully settled (either partially or complete), you’re charged a
0.2% fee on your transaction.
+ For example, if you place a buy order for $ 100 in Bitcoin with no remaining balance, you’ll be charged $ 2 in fees ($ 100 x 0.02).
* placed but partially completed : When you cancel an order that’s still partially fulfilled (i.e., some of the settlement is pending), you’re charged a
$ 25 fee
fee
on your transaction.
+ For example, if you place a buy order for $ 50 in Bitcoin with only 20% settled, you’ll be charged $ 5 in fees ($ 50 x 0.05).
Important Notes
- These fees apply to all types of orders placed through BTC-E, regardless of whether they’re canceled or not.
- The $ 25 fee applies to partially complete orders that have some settlement pending.
- There’s no charge for cancelling an order if you want it to be fully refunded.
In Conclusion, Cancelling an Order on BTC-E comes with a fee. While the fees themselves may be SEEM High, understanding how they work can help you more informed decisions about your trading strategies and Budgeting. Happy Trading!