How much does buying and selling bitcoins actually cost at Bitvavo? Are there any hidden fees at Bitvavo? And is Bitvavo a cheap crypto exchange compared to others? We will answer these questions in this article!
How high are the fees at Bitvavo?
At Bitvavo, you pay a commission every time you buy or sell a crypto. This commission is a percentage, so your transaction costs are relative to your trading position. This ensures that Bitvavo is also accessible to users who want to trade with a small amount of money.
When you open a position directly, it is called a market order. The maximum transaction fee for a market order is 0.25%. With a market order, you are a market taker.
With a limit order, you open a position only at a specified price. You are then a market maker. With a limit order, you pay lower transaction costs: up to 0.15%.
Overview transaction costs
In the table below, you can see the transaction fees at Bitvavo. As you can see, transaction fees decrease dramatically when you trade high volumes.
|Volume (30D)||Taker fee||Maker fee|
Do you buy €10,000 worth of bitcoins with a market order? Then the costs are 0.25% which comes down to €25. If you sell that same position, you pay €25 once more.
Is Bitvavo free?
Bitvavo is free to use: you don’t pay anything for opening an account. However, you normally pay transaction fees when you buy or sell cryptos.
You can now temporarily take advantage of a special promotion. When you open an account with the link below, you will temporarily pay no transaction fee over your first €1000,:
When buying and selling cryptos with Bitvavo, don’t forget to pay attention to the spread. The spread is the difference between the buy and sell price of a crypto.
When there is a lot of volatility, the spread can widen. It is then more difficult to find a buyer or seller. As a result, you buy or sell the crypto for a less favourable price.
It is therefore advisable to keep a close eye on the spread: this prevents your trading costs from increasing substantially.
Charges for withdrawing cryptos
It can be wise to withdraw your cryptos and store them on a cold wallet. In this article,you can read how to do this.
However, withdrawing cryptos is not free. Miners have to be paid to verify the transaction. These transaction fees can increase significantly when there are many requests. Therefore, it is advisable to choose a good time to withdraw your cryptos.
Costs for depositing money
At Bitvavo, in many cases you don’t pay any money for depositing money. Adding money to your account using iDEAL or bank transfer is completely free. Some payment options, however, involve extra costs. Fortunately, you can easily avoid these fees by simply choosing another payment option.
No! Bitvavo is a transparent crypto exchange and there are no hidden costs: you know immediately how much you pay for everything. Of course, it is important to remember that cryptocurrencies are very volatile. This means you can quickly lose (a large part of) your deposit.
Want to read more about Bitvavo?
- In the manual, we discuss how to use the platform
- In the review, you can read my opinion about Bitvavo
- Discover how to set a stop limit order here