Kraken charged my father 2.9% to buy Bitcoin.
The real fee? 0.3%.
They hid the cheap option and hoped he wouldn't notice.
My father has been buying Bitcoin for a while now. Small amounts, nothing crazy.
Last week I asked him: "Did you nail the bottom? What price did you get?"
He gave me exact numbers—including all the decimals on the BTC amount.
Something didn't add up.
"Wait. The math doesn't work." 😐
No typos. I had him show me his Kraken account.
Here's what I found:
He's been using Kraken's default instant buy feature this entire time.
They charged him around 3% per transaction.
Kraken Pro—literally one setting toggle away—charges 0.25% + minimal spread (~0.3% total).
They made nearly 10x more by hiding the cheaper option. 🫠
And he's been doing this for months.
I called my non-trader friends and family who buy Bitcoin occasionally.
Every single one: using the expensive "beginner" interfaces.
Collectively, they've lost hundreds—maybe thousands—over the years.
This isn't an accident.
💠 Exchanges design their interfaces this way:
Default = expensive (2-3%)
"Pro" = cheap (0.2-0.4%)
No warning. No notification.
They're counting on you not knowing there's a cheaper option one click away.
💠 Check your exchange today:
Kraken: Toggle "Kraken Pro" in settings
Coinbase: Switch to "Advanced Trade"
Other exchanges: Look for "Pro" or "Trading" mode
Usually one click away. Could save you thousands.
Share this with anyone buying Bitcoin on exchanges.
I'm writing “Broken Prices: The Road to Sound Money”
Get notified when it's out → soundmoneyroad.com
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