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 purchased and sold through different channels. This can be via the BTC Direct website (MyBTC) or through a partner (API partner). Regardless of the channel, BTC Direct acts as the counterparty in every transaction; you buy from and sell to BTC Direct. BTC Direct aims to provide customers with the best possible service at a fair and transparent price. This document outlines our pricing policy, including the fees applicable to our services and the moment at which the rate used in a transaction becomes final.

Method for determining the fixed rate

There is no single price for crypto assets. Prices vary per exchange. BTC Direct combines order books from different exchanges and market makers to offer you a fair and market-based 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 highest bid price in the available order book (the lowest purchase price) from various exchanges. The fees charged by BTC Direct are factored into the final quote, using the lowest purchase price as the base price.

Fees
The quote obtained from BTC Direct is based on the rate as described above, with the fees included in the price.

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

These fees may consist of the following components:

1. The BTC Direct trading fee, ranging from 1.5% to 3% via MyBTC and from 1% to 3.3% via an API partner (see table 1).

2. The partner fee (in case of a transaction via an API partner), ranging from 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 displayed as a single fee component, called ‘Processing Fee’.

For purchase transactions, there may also be variable fees depending on the network congestion of the relevant asset or the selected payment method:
3. The (blockchain) network fee for on-chain transactions (varies depending on network congestion)
4. Additional fees related to specific payment methods

The purchase-related fees 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.

When the exchange rate becomes final.

Buy
Depending on the payment method, the rate is either fixed at the moment the order is confirmed or at the moment the payment is received. Which option applies will be clearly indicated in the order form.

When using the SEPA Banktransfer payment method, the exchange order becomes final once BTC Direct has received the payment. When this payment is completed and received depends on your bank. In most cases this will take a few seconds, but it can take longer. BTC Direct has no control over this.

For other payment methods, the exchange order becomes final once the rate is fixed at the moment you click through from the purchase form to complete the payment. This rate will be used if the payment is completed by the customer, after which the exchange order becomes final.

Sell
For sell transactions, the rate determination differs depending on whether the transaction is done via MyBTC or an API partner.

For a sell transaction via MyBTC, the rate is fixed once the transaction is visible in the memory pool (‘mempool’) of the blockchain on which the transaction is processed.

When a sell transaction is executed via an API partner, the rate is fixed at the moment the customer confirms in the partner’s wallet that they want to carry out the sell transaction by clicking the ‘Sell’ button on the sell form. This is different for sell transactions via API partner Trezor. In that case, the rate is fixed at the moment the transaction becomes visible in the memory pool, in the same way as for sell transactions via MyBTC.

For Private Trading, the exchange order becomes final as soon as the customer accepts the provided quote. This applies to both buy and sell transactions. The rate is communicated to the customer by phone and is accepted or declined at that moment.

BTC Direct processes a payout for sell transactions once the crypto assets are considered received. The moment crypto assets are considered received varies per crypto asset. For most crypto assets, this depends on the number of confirmations the transaction has received on the blockchain. The number of confirmations required to consider crypto assets as received differs per crypto asset. An overview of the required confirmations per asset is shown in table 2, including an estimated time duration.

For some crypto assets, the number of confirmations is not considered. In these cases, it is only checked whether the transaction has been included in a block. This is also indicated in table 2, including an estimate of the time required for block inclusion.

Limits
BTC Direct works with different types of accounts. Each account type has daily limits that determine the transaction amounts that can be executed per day. For an overview of the daily limits applicable to transactions via MyBTC and API partners, see table 3.

Contact
Do you have questions about our pricing policy? Please contact our customer service: [email protected] 

Disclaimer
This document provides 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

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