Ethereum: Is there a cancellation fee for BTC-E order?
Bitcoin-E Exchange (BTC-E) is a popular platform for buying and selling Bitcoins, Ethereum and other cryptocurrencies. One of the main features of BTC-E is the commission system, which can vary depending on the type of transaction. In this article, we will find out when the BTC-E cancellation fee is charged and how much it will be charged to you.
Order Types
Before we delve into commissions, let’s first look at the different types of orders that can be placed on BTC-E:
- Inserted but 0% Fulfilled
: This means that a buyer has placed an order to buy a certain amount of Bitcoin or Ethereum, but the seller has not yet fulfilled the order.
- Inserted, but partially fulfilled: in this case, the buyer places an order to buy a certain amount of Bitcoins or Ethereum, and part of it is fulfilled. However, not everything is decided to the end.
Cancellation Fees
Now let’s talk about commissions related to the cancellation of BTC-E orders:
- Place but 0% Fulfilled: If you placed an order but it was canceled before it was fully fulfilled (partially or fully), you will be charged a fee of
0.2% per transaction.
+ For example, if you place an order to buy $100 worth of bitcoins without a balance, you will be charged $2 ($100 x 0.02).
- Sent but partially completed: If you cancel an order that is still partially completed (ie, part of the payment has not yet been completed), you will be charged a fee of
USD 25 per transaction.
+ For example, if you place an order to buy 50 USD of bitcoins with only 20%, you will be charged 5 USD (50 USD x 0.05).
Important Notes
- These fees apply to all orders placed through BTC-E, whether canceled or not.
- A $25 fee applies to partially completed orders that have not yet been paid for.
- If you want a full refund, there is no cancellation fee.
Finally, there is a fee for canceling your BTC-E order. Although the commissions themselves may seem high, understanding how they work can help you make more informed decisions about trading strategies and budgeting. Happy trading!