Silk Road forums
Discussion => Security => Topic started by: boniface1100 on April 04, 2012, 12:54 am
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What are MTGox trade fees? I am suspicious because the site does not clearly say. So if I use Bitinstant, I pay two fees, right? One to Bitinstant and one to MTGox?
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Yep, 0.6%, although for the next few days is it 0.3%, according to their site.
Tibanne acquired Mt.Gox in March 2011, and to celebrate this milestone and the Bitcoin community's continued support, we have decided to offer to all of our Mt.Gox customers a 50% discount on all trading fees!
From 00:00:00 GMT on April first, No, this isn't an April Fool's trick, until 23:59:59 GMT on April seventh all trade fees on Mt.Gox will be half price. Note that this is regardless of your trading volume or when you started trading with us!
Meaning that anyone who used to pay 0.6% will pay only 0.3%. This 50% discount on all trade fees will be automatically applied to everyone and relative to volume discounts as cited on our fee schedule.
Make sure you are trading between April first and April seventh to get this celebratory offer!!!
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Why not use Bitinstant? what about BTCKing? I want something fast. Thanks for your comments
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What are MTGox trade fees? I am suspicious because the site does not clearly say. So if I use Bitinstant, I pay two fees, right? One to Bitinstant and one to MTGox?
It all depends on how much you purchase from them, but I have found that the fees associated with buying Bitcoins aren't that bad (negligible).
The real cost of buying bitcoins from Mtgox is having to wait a week while your money is in limbo when you perform an ACH transfer from your bank. Mtgox makes money buy pooling ACH transfers with other customers money and investing them in short-term money markets. ACH transfers should not take over 3 business days, and a typical ACH transfer into MtGox always takes a week.