What are the fees and structure of the Bits price?

Whenever you purchase Bitcoin via our Bits-service, you will receive a confirmation e-mail in which all transactiondetails are listed including the fees.

• Amount: This is the amount in € which you've transfered from your bank account towards our Bits bank account. Fees are deducted from this amount, after which the remaining amount is used to purchase bitcoin.

• Bitcoin: This is the amount of bitcoin that has been purchased which will be sent to your bitcoin address either directly or later if you're using our recommended bundled purchase system.

• Market Price: This is the bitcoin price at which we bought the bitcoin at on the open market.

• Bitonic Fee: This is a varying percentage and thus the total Bitonic fee is dependant on the amount of purchase.

• SEPA Fee: This is a static fee for processing the SEPA transaction. This fee does not change and/or depend on the amount of purchase. Static fees do however have large influence on lower purchase amounts due to their proportion being significantly higher than with larger purchase amounts. Please be advised to see the examples below to explore the different influences of static fees on your purchase amount.

• Network Fee: This is the fee that is withheld for the direct or indirect sending of the bitcoin to your own wallet. The fee is paid towards the miners who will process the transaction on the Bitcoin blockchain. The height of this fee will depend on how busy the Bitcoin network is.

• Exchange Rate: This is the effective price which you have paid for your bitcoin. This already includes all the fees shown above. Please be advised to see the examples below to explore the different influences that these fees have on the Exchange Rate.

Example 1: An order by the amount of €100

For an order by the amount of €100, you will pay a fee that is relatively lower. This is due to the static fees required for the SEPA transaction. In the example below the SEPA fee amounts to a significantly smaller proportion of the total fees.See the table below to explore how fees (greatly) influence the proportional fee and therefore the Exchange Rate.

Example 2: An order by the amount of €5

For an order of €5 you will pay a relatively high amount of fee. This is due to the static fees that are required for the SEPA transaction. In this example the SEPA fees amount to a significant proportion of the total fees. See the table below to explore how fees (greatly) influence the proportional fee and therefore the Exchange Rate.