Ethereum: Does BTC-E Order Cancellation Charge a Fee?
The Bitcoin-E (BTC-E) exchange is a popular platform for buying and selling Bitcoin, Ethereum, and other cryptocurrencies. One of the most important features of BTC-E is its fee structure, which can vary depending on the type of transaction. In this article, we will look at when a fee is charged for canceling an order on BTC-E and how much it is charged.
Order Types
Before we dive into the fees, let’s first get to know the different types of orders that can be placed on BTC-E:
- Placed but 0% Complete: This means that the buyer places a buy order for a specific amount of Bitcoin or Ethereum, but the seller has not yet filled the order.
- Placed but Partially Complete: In this case, the buyer places a buy order for a specific amount of Bitcoin or Ethereum, and part of it is filled. However, not everything is completely settled.
Fee for Canceled Orders
Now let’s talk about the fees associated with canceling BTC-E orders:
- Sent but 0% Complete
: If you place an order but it is canceled before it is fully settled (either partially or completely), you will be charged a
0.2% fee on the transaction.
+ For example, if you place a $100 Bitcoin buy order and have no remaining balance, you will be charged a $2 fee ($100 x 0.02).
- Placed but Partially Fulfilled: If you cancel an order that is still partially fulfilled (i.e., part of the settlement is pending), you will be charged a
fee
on the transaction.
+ For example, if you place a $50 Bitcoin buy order and only 20% of it is settled, you will be charged a $5 fee ($50 x 0.05).
Important Notes
- These fees apply to all types of orders placed through BTC-E, regardless of whether they are canceled or not.
- The $25 fee applies to partially executed orders that are pending settlement.
- There is no fee to cancel an order if you want a full refund.
In summary, there is a fee for canceling an order placed on BTC-E. While the fees themselves may seem high, understanding how they work can help you make more informed decisions about your trading strategies and budget. Happy trading!