Are you curious about the costs associated with withdrawing your funds from the Knaken app? Whether you are withdrawing cryptocurrencies or euros, knowing the costs in advance can help you make informed decisions. Our guide will take you through the different withdrawal fees on the Knaken app. Let’s get started!

Important Points:

1. Crypto Withdrawal Fees: Understand the transaction fees for withdrawing cryptocurrencies, which are determined by the blockchain network.
2. Euro Withdrawal Fees: Learn more about the standard fees for withdrawing euros to your bank account.
3. Additional Fees for Expedited Withdrawals: Discover the extra fees associated with choosing a priority or expedited withdrawal.

2 Simple Steps to Understand Withdrawal Fees:

Step 1: Understand the Crypto Withdrawal Fees

When withdrawing cryptocurrencies from your Knaken account, you will incur transaction fees charged by the miners or validators of the blockchain network. These fees can fluctuate based on network activity and the time of day. If you want your withdrawal to be processed urgently, you can opt for an expedited withdrawal, but keep in mind that this will increase the transaction fees. The costs will be deducted directly from the crypto you withdraw.

Step 2: Know the Euro Withdrawal Fees

Next, let’s look at the costs for withdrawing euros to your bank account. A standard withdrawal incurs a payment fee of €0.50. If you are in a hurry and need a priority withdrawal, it will cost 1% of the total amount withdrawn, with a maximum fee of €100.

Pro Tip:

If you want to minimize withdrawal fees, avoid expedited withdrawals unless absolutely necessary. By planning your withdrawals in advance, you can avoid the 1% surcharge, especially when withdrawing larger amounts.

FAQ:

How do I know if my crypto withdrawal fees are higher than normal?

Crypto withdrawal fees are affected by activity on the blockchain network. If the network is busy, the fees may be higher. You can monitor the network status and plan your withdrawals accordingly.

Can I avoid the 1% fee for euro withdrawals?

Yes, by opting for a standard withdrawal instead of a priority withdrawal, you will only pay the €0.50 fee.

What happens if I don’t have enough crypto to cover the withdrawal fees?

The withdrawal will not be processed if the remaining balance after deducting the fees is insufficient. Make sure you have enough crypto in your account to cover both the withdrawal amount and the fees.

And that’s everything you need to know about the withdrawal fees on the Knaken app! With this knowledge, you can make smarter decisions when withdrawing your funds, whether it’s in crypto or euros. Want to learn more? Check out our other guides on using the Knaken app for seamless transactions!

Link to the app:

• iOS
• Android

Contact Support: Having issues? Our support team is ready to help! Contact us at [email protected]