Bit2Me Pricing and Fee Disclosures

When operating with cryptocurrencies on Bit2Me, it is key to understand two important concepts: mining fees (network costs) and the spread (margin in the exchange rate). This article will explain how both work so that 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 to an external address).

It is important to note that Bit2Me does not charge any of its own fees for these sends. However, to cover the cost of the network, we apply a mining fee based on an advance estimate. This estimate may vary depending on various factors, such as network congestion at that time.

Although we strive to be as accurate as possible, in certain circumstances the final fee that Bit2Me pays may differ slightly from the initial estimate. Don't worry: any additional fee 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 spread, to the market exchange rate.

To understand this margin or spread, it is necessary to take into account that cryptocurrency markets (and all markets in the world) operate with ASK, BID, and LAST TRADE.

The values shown in the Bit2Me Wallet when giving the price of an asset are always the average LAST TRADE of the market that we observe. But when an operation is executed, the LAST TRADE is not used (which in itself is impossible, because it was the last trade, not the future one). For this, the ASK is taken. Between the ASK and the BID there is what is called the SPREAD. Bit2Me Wallet orders are at market, so the system operates on the ASK.

Depending on the currency, there may be more or less LIQUIDITY, and based on the ORDER SIZE of your operation and that LIQUIDITY, an average price is generated that must start from the ASK and may have a larger differential SPREAD to freeze the price for 30 seconds, during which Bit2Me guarantees the operation so you don't miss the opportunity (even if the market varies every second) and which is automatically refreshed.

Markets have many elements to take into account, and if a person wants to control them, that is what Bit2Me PRO is for, which is our advanced product that we recommend for intermediate/advanced profiles. There you can already place LIMIT orders and even visualize the order books to design your ORDER SIZEs.

In rare circumstances, the exchange rate may not be available due to outages or scheduled maintenance.