Crypto Buy/Sell Transactions

QB charges a fee for each buy/sell transaction, as set forth below:

• Zero-fee on buy/sell transactions totalling €500 in volume. Each buy/sell order contributes to your total volume, you can either make several orders or a single order of €500 without fees.
• Once exceeding a total volume of €500 we will apply a variable fee of 1,49% for each transaction. Maximum fee charged per transaction is €45.

QB also charges a spread of 0.5% for cryptocurrency purchases and sales. However, the actual spread may be higher or lower due to market fluctuations in the price of cryptocurrency between the time we quote a price and the time when the order executes.

When payment is made in another fiat currency then euro, your cryptocurrency transaction will be subject to a foreign exchange transaction where local banking fees might apply.

Crypto Send/Receive Transactions

Send internal

QB does not charge a fee for sending cryptocurrency from one QB wallet to another QB wallet (i.e. transfers between QB App users).

Receive

QB does not charge a fee for receiving most of cryptocurrencies from a third party wallet  (i.e. crypto sent to you from another Cryptocurrency Wallet Service). However, we do have a deposit fee for ETH, you can read more about that in the next question below (“What is the ETH deposit fee?”).

Send external

QB does not charge a fee for sending cryptocurrency to a third party wallet, however you will pay a Network Transaction Fee. QB incurs and pays the Network Transaction Fee, such as miner’s fees, for any transaction sent on the blockchain from a QB App wallet to a third party wallet. For these transactions QB will charge you the network fee based on our estimate of the network transaction fee that we anticipate paying for each transaction. In certain circumstances, the fee that QB pays may differ from that estimate. All fees we charge you will be disclosed at the time of your transaction.

Crypto Swap

With a crypto swap, you can accomplish in a single transaction what would otherwise require two separate transactions. For example, you can directly convert Bitcoin to Litecoin.

QB charges a spread margin of up to two percent (2.0%) for a cryptocurrency swap. The actual spread margin charged varies due to market fluctuations in the price of cryptocurrency between the time we quote a price and the time when the order executes.

QB does not charge a separate fee for cryptocurrency swaps.

What determines the actual fee for receiving or sending Ethereum?

When you do an on-chain transaction with Ethereum your transaction fee will be determined on the amount of transactions that are currently on the blockchain. The fee on Ethereum is measured in gas which is the unit that measures the amount of computational effort required to execute specific operations (transactions) on the Ethereum network. When the Ethereum network has a lot of traffic the gas-fees are higher, due to more computational effort required.

What will the deposit fee be for receiving Ethereum from an external wallet?

When you are sending from an external wallet and receiving in your QB App wallet, you will have to pay an additional network fee. QB does not earn any money on this fee. The reason for this is due to the technical structure of Ethereum. Your Ethereum can only be received or transacted from one address to another, unlike other cryptocurrencies where you can transact from one address to several different addresses at the same time. In order to be able to allocate the correct amount of Ethereum to the correct address, we must create an individual Ethereum address for each user. However, QB has to have a main Ethereum address where all the Ethereum transactions must go through in order for QB to be able to control that everything is working correctly. Hence the two network fees, first to your individual address and then to QB’s main address. The upside for you as a user is that there will be a fixed fee which is lower when buying and exchanging Ethereum in the QB app.

A blockchain fee, also known as ‘network fee’, is a fee you pay when you send crypto on the blockchain, from your address to another. The fee is the payment for the mining, i.e. the process through which cryptocurrency transactions are gathered, verified, and recorded into a digital ledger known as the blockchain.

The actual fee you pay will vary according to the cryptocurrency you use. For example, a Bitcoin transaction will have a different fee in comparison to transactions placed on the Bitcoin Cash or Litecoin network.

Sending crypto to another QB App user is free.

You can choose the following options for recurring purchases:

We have a limit of minimum one (1) EUR, or the equivalent in any other accepted FIAT currency.

It will automatically cancel the scheduled purchase and you need to redo the recurring purchase set up. You will also get a notification in the app regarding insufficient funds.

Yes, you can cancel it whenever you want in the app.

Yes, It is the same fee as for a regular purchase.

Currently, we do not have the option to see the exchange rates. However, we can recommend https://coinranking.com/ for the exchange rates. Please just remember that we have our own fees, which you can read about under the App Support section.