Whenever you purchase cryptocurrency from Coinify or our partners, you are purchasing at the best exchange rate we can offer. Our exchange rates differ from that of other companies, because they are tailored to sustain our business. As a company, we always try to offer the best exchange rate among our competitors.
If you've bought cryptocurrency from us for a specific amount, but your wallet shows that those funds have a lower value than what you purchased for, here are the reasons why:
1. Our fees
Like any others business, Coinify has costs that need to be paid and it must generate a revenue. To do this, we must charge fees which are included in the exchange rate we offer you.
2. The exchange rate of your trade is not locked
For trades paid by bank transaction, the exchange rate we offer is not locked. We do this because bank transactions take time to reach our account and we can never be sure that a trader will send the funds. With trades paid by card or cryptocurrency, we can receive the funds fast and therefore we lock the exchange rate of your trade for 15 minutes.
3. Different wallets, different exchange rates
Each wallet service uses an exchange rate to value your cryptocurrency. Where the exchange rate comes from can have an impact on the value displayed to you.
4. Online exchange rates
If you're using an online source, like another cryptocurrency provider, to find out what the value of your funds is, keep in mind that they might not include their fees in the amount displayed.
When we process trades, we always use the best exchange rate we can offer at the time of processing. We always try to challenge ourselves to find new ways of improving our pricing so that we can keep offering you the simple and fast service that you need.