Bit2Me pricing and fee disclosures

When trading cryptocurrencies on Bit2Me, it's crucial to understand two important concepts: mining fees (network costs) and the spread (exchange rate margin). This article will explain how both work so you can manage your transactions transparently.

Mining

At Bit2Me, we cover network transaction fees, also known as mining fees, which are essential for moving your cryptocurrencies off our platform (i.e., when you send them to an external address).

It's important to note that Bit2Me does not charge any proprietary commission for these sends. However, to cover the network cost, we apply a mining fee based on an upfront estimate. This estimate can vary depending on various factors, such as network congestion at the time.

While we strive to be as accurate as possible, in certain circumstances, the final fee Bit2Me pays might differ slightly from the initial estimate. Don't worry: any additional fees will always be clearly communicated to you at the time of your transaction.

Spread

Bit2Me sets the exchange rate for cryptocurrency transactions by adding a margin, or differential, to the market exchange rate.

To understand this margin or differential, it's important to note that cryptocurrency markets (and all markets worldwide) operate with ASK, BID, and LAST TRADE.

The values displayed in the Bit2Me Wallet when showing an asset's price are always the average LAST TRADE of the market we observe. However, when an operation is executed, the LAST TRADE is not used (which is impossible in itself, as it was the last trade, not the future). For this, the ASK is used. Between the ASK and the BID, there is what is called the SPREAD. Orders from the Bit2Me Wallet are market orders, so the system operates on the ASK.

Depending on the currency, there may be more or less LIQUIDITY, and based on your operation's ORDER SIZE and that LIQUIDITY, an average price is generated. This price must start from the ASK and may include a larger SPREAD due to the price being locked for 30 seconds. Bit2Me guarantees the operation during this time so you don't miss an opportunity (even if the market changes every second), and the price refreshes automatically.

Markets have many elements to consider, and if someone wants to control them, Bit2Me PRO exists for that purpose. It's our advanced product that we recommend for intermediate/advanced users. There, you can place LIMIT orders and even visualize order books to design your ORDER SIZEs.

In rare circumstances, the exchange rate might be unavailable due to outages or scheduled maintenance.