Coinify pricing publication and fees disclosure

Costs

When calculating costs and charges, Coinify will use costs incurred as a proxy for the expected costs and charges. Where actual costs are not available, Coinify will make reasonable estimations of these costs. 

Coinify should disclose the costs associated with the products and the service the client intends to use. In the case of potential clients, adapting the information may only be possible when the potential client has engaged with the Company, i.e. has established a business relationship with it. Until then, Coinify can disclose generic information on costs and charges using other means. 

A generic disclosure of prices is used for certain transactions where the actual exchange rate will only be determined upon the actual execution of the transaction.

Price determination on crypto transactions

The purpose of this document is to provide a clear and concise pricing publication as well as fee disclosure. 

At the base of all Coinify transactions, we use the Coinify Best Price calculation. This price is composed using VWAP calculations from several leading exchanges and liquidity providers.

Trade Services (On/Off ramp) - Summary of costs 

Network transaction fees

For transactions on cryptocurrency networks (i.e., transfers of cryptocurrency of the Coinify platform), Coinify incurs and pays network transaction fees (e.g., miner fees). When we send cryptocurrency to your wallet, we will charge a fee based on our estimate of the prevailing network fees for a stand-alone wallet-to-wallet send. However, the final fee that Coinify pays may differ from the estimated fee due to factors such as batching transactions or changes in network congestion levels. 

Efficiency gains and network fees

Due to potential efficiency gains from batching transactions, the aggregate amount of estimated network fees paid by users within a given batch may exceed the final network fee paid by Coinify.

Trading and spread

When you buy or sell crypto, fees are charged. These fees are calculated at the time you place your order and can be influenced by factors such as your chosen payment method, order size, market conditions, jurisdictional location, crypto assets, and other costs we incur to facilitate your transaction.

Before submitting your transaction, you can view the fees in the trade preview screen. Please note that fees may vary for similar transactions. By completing an order, you agree to pay the applicable fees for that transaction.

When you place a buy or sell order, Coinify includes a spread in the quoted price. This spread will vary depending on current market fluctuations, purchase amount, coin selection, and fiat currency of choice. Please note that the spread may vary for similar transactions.

Risk Margin

To account for market exposure risk during the payment process, Coinify charges a risk margin, which will dynamically adjust based on market conditions. 

FX Fee

Coinify charges an FX fee, which is built into the price of the crypto asset being bought or sold, for certain trading pairs. This is due to the fact that Coinify incurs costs when foreign exchange is required.

Payment Services - summary of costs

Crypto Payment processing fee

Depending on the industry classification, partner monthly volume, settlement currency

FX Fee

The FX fee charged by Coinify for its Payment Services is built into the price of the crypto asset being bought or sold, with the exception of cases where the merchant prefers to bear this cost. This fee is charged because Coinify executes trades in USD market pairs, and incurs costs when converting the USD into the merchant’s settlement currency.

Risk Margin

A risk margin is charged during cryptocurrency payments, to account for market exposure risk during the check-out process, given the quote is held for 15 minutes while the end user finalizes their purchase with our merchant partner. This risk margin ranges between 30bps and 100bps depending on market volatility.

Merchant refunds - Fiat Settlements