What fees are we using

What fees are we using

Simple Coin does not charge any fees. It means that by bank transfer we send you the exact sum, which you can see in order and, as well, the amount of crypto that will be assigned to your cryptowallet is from order.

But...


Fees, margin or provision are essential part of every financial service. Because of this, they are included in final price (up to a few exceptions).

When you are selling crypto, it is needed to send required sum to our wallet. Fee for the transaction is being subtracted by your wallet automatically. Due to this, the amount of crypto you send from wallet will be slightly higher than what you sell to us. That's how wallets work.

When you are buying crypto for crowns or euros, your bank can charge you a fee for outgoing transaction. Especially, when you are sending euros from Czech account, fee may rise up to few hundred crowns. Some fees might be included in monthly fee for account management by your bank.

Simple Coin has to pay for sending crypto and bank fees as well. Since we provide exchanges of small amounts, we have to include those fees also in final price. This affect the small difference between unit rate displayed in our website and your final rate.

Here you can see that 1 Bitcoin is sold for price a few crowns higher than it's displayed in unit rate.

We work with fees for incoming and outgoing transactions. First one is subtracted for incoming transaction (here in CZK), then the relative rate is applied and in the end the outgoing transaction fees is subtracted (here in BTC). For very low amounts the change of rate might be notable.


Following sums are subtracted from incoming transactions

EUR: 1.00
CZK: 5.00
BTC: 0.00000
LTC: 0.00000
BCH: 0.0000

Those are fees for outgoing transactions

EUR: 1.00
CZK: 5.00
BTC: 0.00005
LTC: 0.00100
BCH: 0.0000
ETH: 0.0000
XRP: 2.00

 

In case you cancel the order, we charge you fees for both directions in currency of incoming transaction.

This is because we have to pay these fees.