How are conversion fee's calculated by blocktrades when doing a quick trade, it would be nice if that was explained somewhere thanks.
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How are conversion fee's calculated by blocktrades when doing a quick trade, it would be nice if that was explained somewhere thanks.
It's a complicated formula: I made a post about it nearly 2 years ago, you can find it in my blog if you like. The biggest thing to be aware of is that we have to pay a fixed fee for sending bitcoin on the bitcoin network, and that fee is very high now. Our site provides a warning about this fixed fee in the instructions you get after you press the "Get Deposit Address" button. Also, the estimator on our site provides an exact computation of our exchange rate at the time the estimation is requested (it includes the fixed price transaction fee in that rate). Note that the rate is dependent on the amount sent as well.