Buying and selling on Quebex.com
1% fee is applicable on any Bitcoin traded.
1% fee is applicable on any Ethereum traded.
1% fee is applicable on any Litecoin traded.
0% fee is applicable on any Quebex CAD Balance traded.
Trading fees are subject to change.
Quebex.com wallet and bitcoin transfers
The Bitcoin transaction fee is normally between 0.001-0.005 BTC per outgoing transfer. It can be higher or lower depending on the current usage rate of the Bitcoin Blockchain. At Aug 2017 rates, this fee can sometimes total $5 CAD or more.
For Ethereum deposits, there is a small fee charged on deposit (which as of Aug. 2017 worked out to less than $0.03 CAD).
For Ethereum withdrawals, there is also a small fee charged (which as of Aug. 2017 worked out to less than $0.50 CAD).
Litecoin, like bitcoin, requires a mining fee paid to the network per outgoing transfer. Approximately 0.01-0.05 LTC are usually charged per transfer. At Aug 2017 rates this fee is usually less than $3.00 CAD.
Automated Transaction Settlement
When trading between pairs of crypto currencies (e.g. BTC and LTC, or LTC and ETH, or ETH and CAD Quebex Balance), it is possible for Quebex to settle your trade without any intervention.
In order to reduce the possibility of a flash-crash induced loss of funds, Quebex has put in place safeguards to halt automatic trading when the market rates deviate too much from the past 24h performance.
Each crypto currency has a "sanity" rate set -- the percentage change over 24 hours where automatic trading is still possible.
For instance, if the Bitcoin price range in the last 24 hours was $5,000 - $5,500, and the sanity rate was set at 10%, the following three cases would exist:
- If the current price is lower than 10% less than the highest price in the last 24h, automatic trading would be blocked.
10% of $5,500 is $550, so a current price of $4,949.99 would block BTC/LTC, BTC/ETH, and BTC/Quebex Balance trades from automatically completing.
- If the current price is higher than 10% more than the lowest price in the last 24h, automatic trading would be blocked.
10% of $5,000 is $500, so a current price of $5,500.01 would block BTC/LTC, BTC/ETH, and BTC/Quebex Balance trades from automatically completing.
- If the current price is within both sanity check limits (e.g. between $4,950 and $5,500) then, providing the other currency didn't go outside its sanity rate range, the trade would execute automatically.
If a trade is started, and a currency falls outside its sanity range, you will have to manually click "Release BTC/ETH/LTC."
The Sanity rate is 25% for BTC, 18% for LTC, and 18% for ETH.
When determining the market rate, Quebex regularly monitors crypto currency exchanges and tracks liquidity.
The market rate for a crypto currency depends on whether the ad is selling or buying.
When selling your crypto, we take the price where there's $3, 000 of liquidity from other sellers on other sites. In that way, if you want 10% above market rate, you get 10% more than it will cost you to replace up to $3, 000 of your crypto at that point in time.
For instance, if you are trading Bitcoin, and there is $1 ,000 of Bitcoin available for $5, 000 and $2, 000 of Bitcoin available for $5, 500, we'll take that $5, 500 price and use it for "market rate", and mark that up by 10% for you ($5, 500 + $550 = $6, 050).
When offering to buy, we do the opposite. If you're trying to save 10%, and other sites have someone looking to buy $1, 000 for $5, 000, and another $2, 000 request with a $4, 900 offer, we'll set your ad at $4, 900 - $490 = $4, 410. That would position you well to profit from arbitrage.