Commerzbank, a German financial institution, has submitted an application for a local crypto license
If the bank's licensing application is approved, it will be able to provide exchange and crypto-asset services.
If the bank's licensing application is approved, it will be able to provide exchange and crypto-asset services.
Based on current transaction data withdrawal fees would be somewhere close to 0.00022 BTC per transaction and deposit fees around 0.00066 BTC per transaction. The fees should get smaller in the long run, as it makes less sense to make small deposits, which increase the fees for all users.
When sending to LocalBitcoins wallet, a bitcoin network fee is deducted from the deposit. The fee varies on how congested the Bitcoin Network is. If your deposit amount is smaller than the bitcoin deposit fee, the deposit will not be processed. The current sending fee is visible on the wallet page under the heading Incoming transactions and fees .
This means that a large part of the old Bitcoin transaction fee was for covering costs related to deposits. This means that customers who make many small deposits to their LocalBitcoins wallet causes the sending transaction fees to rise, and these costs were paid by customers who were sending Bitcoins.
Most exchanges charge 1-3%. This is a service fee charged by the exchange for offering you the service of giving you bitcoins for dollars or euro. Bitcoin network fees are paid when you use the actual Bitcoin network. If you buy from an exchange and send to you your own wallet, you will usually pay both.
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