Minimum order size on Kraken

crytoadvice

Im trying to place an order on Kraken and am being told the amount is too low. I found this
https://support.kraken.com/hc/en-us/articles/205893708-What-is-the-minimum-order-size-

Can anyone explain this. I was under the impression that you can buy fractions of coins or purchase in small denominations of a few euro

Kenny Logins

You can in theory, but exchanges will impose these lower limits to prevent them clogging up their servers.

crytoadvice

Kenny Logins wrote: »

You can in theory, but exchanges will impose these lower limits to prevent them clogging up their servers.

Are the limits similar on all exchanges or do they differ widely

grindle

crytoadvice wrote: »

Are the limits similar on all exchanges or do they differ widely

The reasoning behind this is to stop the rampant manipulation going on where tons of tiny sell and buy orders get placed before sell walls and after buy walls in order to slow any possible movement in either direction down.

Kraken and Gdax were the first to implement those kinds of changes & I'd hope for it or expect it from the more responsible exchanges.
Smaller, more questionable exchanges don't give a toss about that kind of action as they're still earning fees and don't have the same commitment to customer service that the larger exchanges have.

crytoadvice

grindle wrote: »

The reasoning behind this is to stop the rampant manipulation going on where tons of tiny sell and buy orders get placed before sell walls and after buy walls in order to slow any possible movement in either direction down.

Kraken and Gdax were the first to implement those kinds of changes & I'd hope for it or expect it from the more responsible exchanges.
Smaller, more questionable exchanges don't give a toss about that kind of action as they're still earning fees and don't have the same commitment to customer service that the larger exchanges have.

Thanks , I wasnt aware of that.

Ive attached a screenshot of the minimum amount of Euros needed to place an order for the coins on Kraken that are paired with the Euro

makeorbrake

crytoadvice wrote: »

Thanks , I wasnt aware of that.

Ive attached a screenshot of the minimum amount of Euros needed to place an order for the coins on Kraken that are paired with the Euro

Why in the name of God would you want to place orders below those minimums?
Are you doing an accumulator?

Dades

makeorbrake wrote: »

Why in the name of God would you want to place orders below those minimums?
Are you doing an accumulator?

Probably for the same reason people put 2 and 3 euro sports bets on.

For many this is a just flutter like gambling - which is what it is!

crytoadvice

makeorbrake wrote: »

Why in the name of God would you want to place orders below those minimums?
Are you doing an accumulator?

To check that everything is working correctly before Investing Larger amounts. Given the problems at coinbase atm I think its better to test the exchanges with min amounts first(the smaller the better).

grindle

crytoadvice wrote: »

Given the problems at coinbase atm I think its better to test the exchanges with min amounts first(the smaller the better).

Turns out it was a Visa problem, not a Coinbase problem.

crytoadvice

These are the updated minimum orders for Kraken since they added currency pairs
https://blog.kraken.com/post/1494/

grindle

XLM is ferociously high!

What's going on there?

crytoadvice

grindle wrote: »

XLM is ferociously high!

What's going on there?

Im going by the minimum volumes given here. it says 300 for xlm. When i input a buy order of 300 xlm it gives 97.49euro at the current market price.
Maybe im reading the info wrong

https://support.kraken.com/hc/en-us/articles/205893708-What-is-the-minimum-order-size-