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Comment by Tenoke | Hacker News Reader

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.

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So $7600 (plus half a penny) in transaction fees on $38M. How much would a bank charge for wiring that amount?

you are mixing exchange rate premiums and transaction fees. imagine 30M or so EUR to USD first then transaction fee. most certainly more.

It 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

Up 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.

For those numbers you would be going through OTC, not buying on the open market, so the fees would likely be much lower.

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