To see an overview of all fee levels on Bitpanda Pro, please follow these steps:
- Log in to Bitpanda Pro
- Click on your User Icon
- Click on Fee levels
Tip: You can also see all fee levels for Bitpanda Pro here.
The maker and taker fees start at 0%, and vary based on 30-day trading volumes. The Bitpanda Pro fee levels can be found here.
How is the 30-day trading volume calculated?
Every day between 12 pm and 2 am (CET) your trading volume during the last 30 days is calculated. Your fee level will be updated accordingly after this 24 hour cycle has been completed. Before that, the fees from your current fee level apply. The trading volume will be calculated in Bitcoin (BTC) even if you have never traded BTC.
What are maker and taker fees?
The maker and taker model is used to differentiate fees between trade orders that provide liquidity to the market (maker orders) and take away liquidity from the market (taker orders).
When you create an order that doesn’t match with an already existing order in the order book, you become a “maker” (because you create a new order which needs to be matched by a “taker”). In this case, you add liquidity to the market, which is why you will be charged the “maker fee”.
When you create an order and it gets matched with an existing order in the order book, you become a “taker” (because you completed someone else’s buy or sell order). In this case, you take liquidity from the market, which is why you will be charged the “taker fee”.
Tip: You can see your current maker and taker fee directly in the Order section on the left hand side of the Exchange view.
If you cancel an order before execution, no fees will be charged.
How is the price determined?
The price of a certain cryptocurrency and digital asset on Bitpanda Pro is not defined by Bitpanda itself, it is defined by our users, through their buy and sell orders in the order book.
For example, if you want to sell an asset and ask for a certain price through an order in the order book, and another user buys the asset for the price you asked for, then both of you have defined the price of the respective asset. This is called “price discovery”.
What is the spread?
The spread is the difference between the lowest ask price (sell order) and the highest bid price (buy order).
For example, imagine there are only two users in a market. You and another user. If you want to sell an asset and ask for a certain price through an order in the order book, but the other user bids to only buy it at a lower price, then the difference of what you asked for and what the other user bid, is called spread. Of course there are many other users in any market and only the difference between the overall lowest ask and highest bid price is the Current spread.
The Current spread can be seen on the left hand side of the Exchange view in the center of the Order book.