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Depositing and converting that amount to Binance will cost you 0.02% in fees, and same to convert on the other end (assuming there's buyers for such an amount).
by Tenoke 6y ago
Depositing and converting that amount to Binance will cost you 0.02% in fees, and same to convert on the other end (assuming there's buyers for such an amount). Of course, that's assuming you are going from/to cash rather than keeping them in crypto.
- sedeki 6y agoSo $7600 (plus half a penny) in transaction fees on $38M. How much would a bank charge for wiring that amount?
- Symbiote 6y agoUp to $50 for a SWIFT transaction, without currency conversion. There's likely to be a similar charge for making a transfer that large from a bank to a Bitcoin exchange anyway.
- tor12 6y agoyou are mixing exchange rate premiums and transaction fees. imagine 30M or so EUR to USD first then transaction fee. most certainly more.
- Tenoke 6y agoIt depends. The fees for international wire transfers of those amounts are more complex. A random calculator I found suggested much, much more. Transferwise (cheapest I know) doesn't do that large transfers so you'll have to do it in ~100 transactions but the fees will be a lot larger, and this does not account for conversion fees which will be higher on their own. I found this for GBP, I assume it's similar. >For payments in GBP the fee percentage for the first 100,000 is 0.35%, and for any amount above that it’s only 0.20%. https://transferwise.com/gb/blog/send-large-sum-of-money-how https://transferwise.com/gb/blog/send-large-sum-of-money-how
- andreaorru 6y agoFor those numbers you would be going through OTC, not buying on the open market, so the fees would likely be much lower.