Kraken Exchange lowers withdrawal fees for BTC, LTC, and GNO

Kraken has lowered withdrawal fees for some tokens. First, for BTC the withdrawal fees have been reduced to 0.001 XBT and this is because from now on they will be doing XBT withdrawals as batches. In return for the lowered fees and the batching withdrawal times will increase to 2 to 5 minutes because they will wait for XBT orders to batch together. Second, LTC has been reduced to 0.001 LTC and finally, GNO has been reduced to 0.005 GNO. For further info please read the article I copied and pasted below.

Bitcoin withdrawals now batched to reduce cost

Many clients have said they prefer a lower bitcoin withdrawal fee even if it means slower transactions. Accordingly, we are now sending withdrawals together in batches to reduce cost. This allows us to reduce the bitcoin withdrawal fee to:
• 0.001 XBT

We are pleased to offer clients a significantly reduced fee, but keep in mind that bitcoin withdrawals will be a bit slower due to the batching. Withdrawals will take anywhere from 2 minutes to 5 minutes longer to broadcast to the network while waiting to be batched together with other payments.

This fee reduction currently only applies to regular bitcoin withdrawals, not “BitGo Instant” transactions. And tether (USDT), which is transferred on the Bitcoin network, is unchanged at 5 USDT since tether does not support batch functionality.

Litecoin (LTC) withdrawal fee reduced

The LTC withdrawal fee is reduced to:
• 0.001 LTC

Gnosis token (GNO) withdrawal fee reduced

The GNO withdrawal fee is reduced to:
• 0.005 GNO

We will be reviewing our other supported assets for possible fee adjustments and may not notify you by email of all changes. And we still plan to update withdrawal fees more dynamically, so you may see withdrawal fees change more frequently in the future.

Thank you for choosing Kraken, the trusted and secure digital assets exchange.

The Kraken Team