When a buyer send a payment via cryptocurrency, the money initially goes to a temporary wallet that is associated with the order. When the cryptocurrency transaction is confirmed, the money is then moved to your holding wallet. Before moving the money to the holding wallet, we can make any conversions you wish to make (i.e. incoming cryptocurrency to FIAT or stable coin or another cryptocurrency). The holding wallet allows you aggregate payments from multiple orders so we can payout in one transaction (and thereby minimize fees associated with cryptocurrency transaction and bank transfer fees). We offer payouts daily, every three days, or weekly.
Incoming Payments from Buyers
We do not charge any fee for incoming payments. For example, if your buyer payed 0.05 BTC, we will credit your wallet 0.05 BTC.
Crypto->Crypto or Crypto->FIAT Exchange Fees
If you decide that you want to convert incoming cryptocurrency payments, there is a small exchange fee associated with the conversion. For Cryptocurrency (e.g. BTC, BCH, ETH) to Cryptocurrency, Cryptocurrency to Stablecoin (e.g. USDC, USDT, BUSD), and Cryptocurrency to FIAT (e.g. USD, AUD, GBY) the fee is 0.75%.
The withdrawal fee is 0.2% for all Blockchain Withdrawals (i.e. cryptocurrencies). However, stable coin withdrawals (USDC, USDT, BUSD) have a minimum fee of $3. Withdrawals to FIAT (ACH) have a minimum fee of $1 while the minimum fee for WIRE transfers depends on the withdrawal currency ($15, £15, €7.50, ¥3).
- Buyer pays 1 BTC. You want to receive 50% BTC and 50% USD. The conversion rate of BTC to USD is $10,000. You will receive 0.499 BTC (0.5-(0.5*.2%)) and $4,952.57 ((0.5-(.5*.75%))*10000)-(((0.5-(.5*.75%))*10000)*.2%). The overall fee ends up being 0.57%.
- Buyer pays 1 BTC. You want to receive all USD. The conversion rate of BTC to USD is $10,000. You will receive $9905.15 ((10000-(10000*.75%)-(((10000-(10000*.75%))*.2%)). The overall fee ends up being 0.95%.
|Currency||Minimum Withdrawal Amount|
|USD (Wire Transfer)||$15|
|EUR (Wire Transfer)||€100|
|GBP (Wire Transfer)||£150|
|CNY (Wire Transfer)||¥100|
|Bitcoin (BTC)||0.00005 BTC|
|Ethereum (ETH)||0.007 ETH|
|USDC, USDT, BUSD||3|
Please note that FIAT settlement fees are included in Rocketr Storefront and typically in addition to standard transaction fees for Rocketr Payments. Please contact us if you would like information on custom plans for enterprise or non-profit use cases.