What fees will I be charged?
When buying Crypto fees are unavoidable. The base fees involved when we buy Bitcoin and Ethereum include:
- The international money transfer fee
- The currency exchange fee
- The Bitcoin exchange bank deposit fees
- The trading fee when we buy Crypto
- The Bitcoin and Ethereum network fees when we send the Crypto to our master wallet
- Another Crypto network fee when we send the Crypto to our lovely users
As we bulk buy Bitcoin and Ethereum much of these fees are significantly reduced and amount to a total of ~ 1%. The ‘rate’ on the account page is inclusive of the market rate we bought Bitcoin and Ethereum at and these base fees added on. We are constantly trying to streamline this process to make the base fee as low as possible.
Our Vimba fee of 3.5% is added onto the base fee before we send Crypto out to our users.