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Bitcoin fees lowest at Kraken crypto exchange

According to CoinGecko, the price for Bitcoin as of Wednesday (August 25) is officially around 41,200 euros. However, investors have to be careful: depending on the broker or exchange from which they buy the crypto currency, price fluctuations can occur. These are based at the same time on the providers’ fees and the actual rate at which they advertise Bitcoin. The kryptonaut platform carried out a comparison between 17 different providers, with real exchanges like Kraken and Binance being the cheapest contact points. But the neo broker Bitvavo also deviates little from the reference price on CoinGecko.

Bitvavo is cheaper than Binance

For all tested providers, used the current purchase price data that they received from them via the interface. In addition, the platform calculated the respective fees, if they were not already included in the course. She then calculated the average additional costs over the past six months. The costs for paying out the coins to your own wallet are not taken into account. In addition, the analysis was always based on the cheapest payment method, which was usually a SEPA transfer.

Comparison of Bitcoin price deviations ©
Comparison of Bitcoin price deviations ©

The actual Bitcoin purchase price at Kraken only deviates by 0.18 percent from the reference price. This means that investors are currently paying around 74 euros more for a BTC than the actual rate would require. At the Dutch neo broker Bitvavo, the price deviates by 0.19 percent. In third place is the Binance crypto exchange with a deviation of 0.39 percent.

Bitcoin price relatively high at Bitpanda

At the US crypto trader Coinbase, the price deviations are again significantly higher at 1.38 percent. For Bitcoin, this means a difference to the reference rate of more than 560 euros. The situation is similar with the Austrian unicorn Bitpanda. With a deviation of 1.4 percent, the fintech is only in the lower midfield in comparison. It gets even more expensive at the German neobank Nuri. There is a difference of 1.81 percent, i.e. almost 750 euros compared to the reference rate. The most expensive is the decentralized Exchange Bisq with a deviation of 2.62 percent, i.e. a whole 1,000 euros.

Analysis: Bitpanda is now playing in the top league of the global crypto industry draws attention to the fact that the comparison mainly took place between new brokers. It is not surprising that exchanges such as Kraken and Binance show less price fluctuations. They were only included in the analysis as a comparison value to the brokers. Nevertheless, some brokers also offer very affordable prices for Bitcoin. In future analyzes, the platform wants to include even more exchanges in order to compare them more precisely with brokers.

Bitcoin and Co: Significant price drop overnight

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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