Bitvice has worked to make signing up and payments for our users seamless. This, together with the archaic banking rails, means we need to cover acquiring fees and operational efforts.
Bitvice also takes on the on-chain fees for distributing the Bitcoin to investor wallet. Exchanges normally charge withdrawal fees for this, above their trading fees.
Bitvice does not charge a 'withdrawal fee'.
We have a long-term goal of reducing fees to 0% through advancements in the Lightning Network and other important tools on Bitcoin. But for now, we charge:
Platform Fee - 2.3% (incl. VAT)
This is the fee that Bitvice charges directly to you, for providing the platform and ZAR-to-Bitcoin functionality.
This fee is deducted from the gross Bitcoin amount that is purchased with the ZAR, at the time of the purchase.
All fees are provided in the History Tab -> Order Details -> PDF Report
*This fee is negotiable for large orders. Please contact us at firstname.lastname@example.org if you need further information.
Trading Fee - 0.3% (Default)
This is the fee that the liquidity provider charges for the conversion of the ZAR to Bitcoin. The default fee is 0.3%
We do offer large orders where the Trading Fee can be negotiated. Please contact us at email@example.com if you need further information.