Bitvavo fees – What are the transaction fees at Bitvavo?

If you start trading crypto currencies at Bitvavo you will of course want to know what the costs are at Bitvavo. Bitvavo is a Dutch crypto trading platform where more than 175 different crypto are currently traded and has a trading volume of around EUR 10 million per day. Compared to a giant like Binance, Bitvavo is still a relatively small exchange with a modest trading volume, but for a newer exchange, it is impressive what they have put up because it usually takes time to build up an extensive order book and trading volumes.

Bitvavo is ideal for European people, not only because of the English support, but also because you can deposit money with iDeal. But what are the costs at Bitvavo? We have figured out what fees to expect at Bitvavo.

Bitvavo transaction costs


Why are there fees to trade on Bitvavo?

Unlike getting money out of an ATM, with crypto currencies there are no regulators or banks to handle the logistics of a transaction. Despite the fact that regulators are working hard to ensure that transactions and exchanges for cryptocurrencies are properly regulated, fees or charges associated with transactions or exchanges on a trading platform are not universal.

When you make a trade on a trading platform like Bitvavo, you have to pay a trading fee. You are charged for using the trading platform, but you are also charged a transaction fee to execute a transaction on the blockchain, the so-called GAS fee.

Transaction fees at Bitvavo may fluctuate due to market demand and network capacity for verification. Average transaction fees on some exchanges have been gradually increasing for some time. This is partly because the transaction capacity is getting smaller. This is because the verification of a transaction is carried out by a miner. Therefore, the Bitvavo transaction fees you pay are for the benefit of the miners. Usually, the fee is received by the miner who performs the verification of the block on the network that contains the actual transaction.

Miners are remunerated because they use the computing power of their computers and electricity to carry out verifications of transactions. In addition, miners play an important role in maintaining the safety of the network.

Bitvavo trading costs

What are the Bitvavo fees / charges?

There are three types of charges you may incur at Bitvavo: trading fees, transaction fees and withdrawal or deposit fees. Each type of transaction on a trading platform has its own cost structure and can change frequently and at short notice. So, you should check the costs often when trading crypto currencies. This is because the costs for crypto exchanges and transactions are not static or fixed and are determined by various factors.

Trading costs often depend on the volume you trade, and transaction fees can vary from currency to currency. Deposit and withdrawal fees can also vary by payment method. Bitvavo, for example, does not charge any fees for depositing fiat money with iDeal or a bank transfer.

Bitvavo trading costs

If you are going to trade in crypto currencies, you can use a trading platform such as Bitvavo. For the use of Bitvavo’s trading platform you must pay a certain amount of money. The trading costs usually decrease when you trade larger volumes, which means it can be worthwhile to do larger transactions. With trading costs, there is a distinction between a taker and a maker fee. With a trading fee, the fee goes to the trading platform, in this case Bitvavo.

Bitvavo Fees / transaction costs

Cryptocurrencies are decentralised currencies that are not yet fully regulated by any regulatory body. Decentralised means that the crypto currencies are hosted on networks and computers all over the world and the transactions between the buyer and seller take place without any third-party intervention such as a bank. However, the transaction must be registered. For this, the so-called GAS costs are charged. These costs, which are also called transaction costs or network costs, benefit the decentralised crypto miners who register, verify and execute the transactions on a public blockchain.

Withdrawal and deposit fees at Bitvavo

Finally, deposit and withdrawal fees may also be charged. Withdrawal fees are charged when you want to withdraw money in Euros and deposit it to a regular bank account or when you want to send crypto currency from your Bivavo wallet to an external crypto wallet. Deposit fees are charged when you deposit money to your Bitvavo account with certain payment methods. For example, if you deposit with Sofort, you will be charged a 2.25% deposit fee.

What do you pay in trading fees / transaction costs on Bitvavo?

Every transaction on Bitvavo takes place between two parties. On one side you have the ‘maker’ who has placed an order in the orderbook prior to the transaction. And on the other hand, you have the ‘taker’, who places the order corresponding to the maker’s order and takes the order. Makers create liquidity in a market and takers remove this liquidity by matching the maker’s orders with their own.

The taker fee at Bitvavo is 0.25%. These costs are in line with the average transaction costs charged by different trading platforms. Bitvavo also offers a small discount to takers, as they trade for a fee of 0.15%.

Trading fees on Bitvavo can also be reduced as the trader increases trading volumes. They can even drop to 0.04% for takers and a 0.01% discount for makers, bringing the maker’s trading fee down to -0.01%. Below is the full table of discounted trading fees where the volume is based on your previous 30-day trading volume.

VOLUME (30D)

TAKER FEE

MAKER FEE

€ 0+

0.25%

0.15%

€ 100 000+

0.20%

0.10%

€ 250 000+

0.16%

0.08%

€ 500 000+

0.12%

0.06%

€ 1 000 000+

0.10%

0.04%

€ 2 500 000+

0.08%

0.02%

€ 5 000 000+

0.06%

0.01%

€ 10 000 000+

0.05%

0.00%

€ 25 000 000+

0.04%

-0.01%

How are transaction fees calculated?

The amount you must pay per transaction is determined by the size and amount of your transaction. On a crypto exchange there is often overbidding. The higher the price paid, the more people are outbid and the faster the transaction is processed and completed. The transaction of the person who outbid the others is processed faster than that of the people who were outbid.

Overbidding is recommended for large transactions that are worth a lot of money. Most people who make transactions of this size do not mind paying a high fee that is minimal in comparison. On the other hand, it does not make much sense to pay high transaction fees if your transaction does not have a high buying or selling price.

Don’t worry that by overbidding, smaller transactions will not be processed at all. They will most likely be processed much more slowly, especially if the network is congested.

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