Pricing policy

Important: In case of discrepancies, only the Dutch version of the pricing policy shall prevail.

Introduction

BTC Direct operates a platform where you can buy and sell crypto assets. Crypto assets can be bought and sold through various channels. This can be via the BTC Direct website (MyBTC), or via a partner (API partner). Regardless of the channel, BTC Direct acts as counterparty in every transaction; you therefore buy from and sell to BTC Direct. BTC Direct strives to offer customers the best possible service at a fair and transparent price. This document describes our pricing policy, including the costs that apply to our services and the moment at which the exchange rate used in a transaction is definitively set.

Method for determining the fixed rate

There is no single price for crypto assets. Prices for crypto assets differ per exchange. BTC Direct combines order books from various exchanges and market makers to offer you a good, market-conform price. The price shown by BTC Direct when retrieving a quote (the final price at which you can buy crypto assets) is determined by requesting the top buy price / sell price in the available order book (cheapest purchase price) from the various exchanges. Crypto assets can be volatile; to absorb this volatility, BTC Direct may apply a spread of up to 1%. This spread serves, on the one hand, to cover the risk of volatility and, on the other hand, to cover costs related to facilitating the transactions that are not covered by the fees below.

Costs

The costs charged by BTC Direct are factored into the final quote, taking the cheapest purchase price as the base price (as described above).

When buying and selling crypto assets, costs are charged. The costs charged depend on whether the transaction takes place via MyBTC or via an API partner, whether it concerns a buy or sell order, and the crypto asset being bought or sold.

These costs may consist of the following components:

1. The BTC Direct trading fee, ranging from 1.5 - 3% at MyBTC and 1 - 3.3% at an API partner (see table 1).
2. The partner fee (in the case of a transaction via an API partner) varying between 0-5%. In most cases this is a maximum of 2% (see table 1).

For transactions executed via an API partner, the BTC Direct trading fee and the partner fee are shown as a single cost component, namely Processing costs.

In the case of a purchase transaction, there are also variable costs depending on the congestion on the network of the relevant asset or the selected payment method:

1. The (blockchain) network fee for on-chain transactions (varying depending on network congestion).
2. Additional costs related to specific payment methods.

The purchase costs that depend on network congestion or selected payment methods may vary and are made transparent during the transaction process, prior to the customer's payment.

In addition, when paying out the proceeds of a sale transaction, a payout fee may be charged, depending on the chosen payout method, ranging from 0-1% (see table 4).

Moment at which the exchange rate is final

Purchase

Depending on the payment method, the rate is locked immediately upon confirmation of the order or locked upon receipt of payment. Which of these variants applies is clearly indicated in the order form.

When the SEPA bank transfer payment method is used, the exchange order is final at the moment BTC Direct has received the payment. When this payment is completed and received by us depends on your bank. In most cases this will be within a few seconds, but it may take longer. BTC Direct has no influence on this.

With the other payment methods, the rate of the exchange order is final at the moment you click through from the purchase form to make the payment. This rate is applied when the payment is subsequently completed by the customer, after which the exchange order is final.

Sale

For sale transactions, the rate determination differs for transactions via MyBTC or an API partner.

For a sale transaction via MyBTC, the rate is locked after the transaction is visible in the memory pool (mempool) of the blockchain on which the transaction is executed.

When a sale transaction is executed from an API partner, the rate is locked at the moment the customer confirms in the partner's wallet that they want to execute a sale transaction by clicking the Sell button on the sale form. This is different for a sale transaction via API partner Trezor. In that case, the rate is locked at the moment the transaction is visible in the memory pool, the same as the method used for sale transactions via MyBTC.

For Private Trading, the exchange order is final as soon as the customer has agreed to the quote provided. This applies to buy transactions, sell transactions and swap transactions. This rate is communicated to the customer by telephone and is accepted or rejected by the customer at that moment.

For sale transactions, BTC Direct makes a payout when crypto assets are considered received. The moment at which crypto assets are considered received differs per crypto asset. For most crypto assets, the number of confirmations that the sale transaction has received on the blockchain is considered. The number of confirmations required to consider crypto assets as received differs per crypto asset. An overview of the number of confirmations used per crypto asset is shown in table 2. It also shows an estimated duration per crypto asset.

For some crypto assets, the number of confirmations that the sale transaction has received on the blockchain is not considered. In these cases, only whether the sale transaction has been included in a block is considered. This is shown in table 2, including an estimate of the time for the sale transaction to be included in a block.

Limits

Within BTC Direct, various accounts are used. Daily limits apply per account type, determining the amounts for which transactions can be executed per day. For an overview of the daily limits that apply to transactions via MyBTC and API partners, please refer to table 3.

Contact

Do you have questions about our pricing policy? Please contact our customer service: support@btcdirect.eu

Disclaimer

This document is a general description of our pricing policy. No rights can be derived from it. In specific situations, deviations may apply.

Table 1

Table 2

Table 3

Table 4 - Payout methods for sale transactions

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