Are you considering using Finst but wondering about the costs involved? Don’t worry, Finst operates with a straightforward fee structure of only 0.15%. In this article, we will dive into the details of how this fee is calculated and how it will impact your transactions.
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What are the fees on Finst Exchange?
The transaction fee on Finst is 0.15% per trade with no hidden fees or extra spread. Transparency is important, which is why they charge no additional fees or hidden costs. This enables customers to trade crypto with confidence.
How are the fees calculated?
Transaction fees are calculated as a percentage of the transaction amount. For instance, if a €1000 cryptocurrency purchase or sale is made, the fees would amount to €1.50 (0.15% of €1000). The calculation method is straightforward and transparent, so that the fees are always clear. Moreover, there are no hidden fees or additional charges for receiving real-time cryptocurrency prices. You can view a complete overview of all your transactions and associated fees at any time by clicking on the “Activity” tab in the platform. This way, you always have full visibility into your costs and what you are paying for.
How are the fees compared to other cryptocurrency exchanges/brokers?
The transaction fees are competitive with other reputable cryptocurrency exchanges and brokers, with the aim to be lower. The fees of 0.15% per transaction, for example, are significantly lower than those of Coinbase (1.49%) and Coinmerce (0.40%). They are even lower than those of Bitvavo (0.25%). This means that using the platform can result in significant savings on cryptocurrency investments. See the comparison below for more info…
What are the fiat deposit/witdrawal fees on Finst?
Deposits and withdrawals (Ideal or banktransfer) are completely free of charge on Finst, with no minimum amount required. This means that you can make a deposit or withdrawal at any time, without having to worry about incurring additional fees or having to meet a minimum balance requirement.
What are the cryptocurrency withdrawal/deposit fees on Finst?
Unfortunately, it is not possible to deposit or withdraw cryptocurrency to or from Finst at this time. It is important to keep in mind that Finst’s services may change and evolve over time, so it may be possible to deposit or withdraw cryptocurrency in the future. Please check the platform regularly for updates on available features and services.
Do you need to pay to open or manage an account on Finst?
No, there are no costs associated with opening or closing an account on Finst, and there are no fees for managing or storing the account once it has been opened.
How to calculate your costs on Finst?
To calculate the cost of a transaction on Finst, you would multiply the amount you wish to purchase by 0.0015. The resulting number is the fee that will be charged by Finst for the transaction. So, if you want to purchase $100 worth of a cryptocurrency, the fee would be $100 * 0.0015 = $0.15. The total cost of the transaction would be $100 + $0.15 = $100.15. Finst provides a tool on their website to make it easier for you to calculate your costs. Check it here!
