We value transparency and competitive pricing to offer a fair service for all customers. Therefore, we will give you a detailed breakdown for all the costs that you'll pay for any crypto purchase you're making with us as part of your buying or selling process.
Below is the pricing model that our business follows.
When you place an order with Easy Crypto and you send us your payment, we take off a trading fee and deduct some foreign exchange costs from that amount. What is left over is used to purchase your crypto at the rate shown on our rates page.
It's easier to illustrate this with an example. Let's say that you are buying $100 of Bitcoin, and the cheapest buy price currently available is $100,000 per BTC. Here is where your original $100 will go.
1. The trading fee (0.89%)
The trading fee is immediately deducted from your $100 because as a business it costs us money to run our processes to find the best crypto deals for you. Our standard fee is 0.89% but we offer discounts the more you spend (see Discount Rates Page)
Remaining fiat amount: $100 - (0.89% x $100) = $99.11
2. The foreign exchange cost (0.4%)
The global crypto market unfortunately operates in USD. So, in order to give our customers access to the global crypto market, we have to change NZD into USD and then into crypto. There is a foreign exchange cost involved in changing between currencies.
Remaining fiat amount: $99.11 - (0.4% x $99.11) = $98.71
3. The spread from the spot price
The spot price is the midpoint between the market buy price and the sell price. It’s not an actual price as you can’t buy at that rate, instead there is a difference from the midpoint applied which is called Spread. As a purchaser the price you pay is the spot plus spread.
Our example price of $100,000 is the Spread rate and you'll now buy $98.71 of Bitcoin at that price. For the purposes of this example we will calculate this as 0.0009871 Bitcoin.
4. The network fee (variable)
When we send the 0.0009871 Bitcoin to your wallet address, there’s a network fee involved. You can think of this like a courier cost to deliver your Bitcoin to you.
Part of your purchased Bitcoin will be used for this delivery cost and you’ll get a slightly smaller amount in your wallet. Delivery costs can vary over time, but we charge a fixed rate to smooth out the peaks and troughs in the market. We will advise you upfront what the delivery fee for your order is.
Bitcoin only delivers on one network, but for other coins you might have a choice of what network to send on, and we’ll give you the pricing for all of these when you make your choice.
Be careful to make sure you select the right network, as otherwise your funds could be lost!
In summary
The advertised price of the crypto that you want to buy or sell on the rates page is the spread price. The quoted price we give you will include all applicable fees, and we’ll show the delivery cost when you choose what network you want to use. This means you always know exactly what you’re getting.