Skip to content
New issue

Have a question about this project? Sign up for a free GitHub account to open an issue and contact its maintainers and the community.

Sign up for GitHub

By clicking “Sign up for GitHub”, you agree to our terms of service and privacy statement. We’ll occasionally send you account related emails.

Already on GitHub? Sign in to your account

Jump to bottom

Make fee explanation clearer #73

Merged
merged 6 commits into from Aug 1, 2018
Merged

Make fee explanation clearer #73

Changes from 2 commits
Commits
Show all changes
6 commits
Select commit Hold shift + click to select a range
2fdf908
Make fee explanation clearer
Jul 31, 2018
0db7520
Fix fee calculation examples
Jul 31, 2018
4218c16
Remove second example for offer taker
Jul 31, 2018
ba7a2b9
Remove specific sat/byte mining fee range
cbeams Jul 31, 2018
b2594a1
Make examples grammatical sentences
cbeams Jul 31, 2018
5483008
Use consistent trading amount in all examples
cbeams Jul 31, 2018
File filter

Filter by extension

Filter by extension
Conversations
Failed to load comments.
Jump to
Jump to file
Failed to load files.
Diff view
Diff view
6 changes: 3 additions & 3 deletions faq.html
View file
Open in desktop
Expand Up @@ -303,13 +303,13 @@ <h2>Trading Details</h2>
<strong>Offer maker fees</strong>
<p>The trading fee for an offer maker is based on the trade amount and distance from the current market price:</p>
<p><i>0.002 * &lt;amount of BTC being traded&gt; * &lt;square root of percentage distance from current market price&gt;</i><br/><i>(Minimum fee is 0.00005 BTC)</i></p>
<p>Example 1: offer to sell 1 BTC at current market price results in 0.00005 BTC fee (because 0.002 * 1 * 0 = 0, so minimum fee applies).</p>
<p>Example 2: offer to sell 0.8 BTC at 4% premium to current market price results in 0.0032 BTC fee (because 0.002 * 0.8 * sqrt(4) = 0.0032).</p>
<p>Example 1: making an offer to sell 0.1 BTC at current market price results in a 0.00005 BTC fee (because 0.002 * 0.1 * 0 = 0, so minimum fee applies).</p>
<p>Example 2: making an offer to sell 0.1 BTC at a 4% premium to current market price results in a 0.0004 BTC fee (because 0.002 * 0.1 * sqrt(4) = 0.0004).</p>

<strong>Offer taker fees</strong>
<p>The trading fee for an offer taker is based only on the trade amount:</p>
<p><i>0.002 * &lt;amount of BTC being traded&gt;</i><br/><i>(Minimum fee is 0.00005 BTC)</i></p>
<p>Example: take offer to buy 0.05 BTC results in 0.001 BTC fee (because 0.002 * 0.05 = 0.001).</p>
<p>Example: taking an offer to buy 0.1 BTC results in a 0.0002 BTC fee (because 0.002 * 0.1 = 0.0002).</p>

<strong>Mining fees</strong>
<p>An offer maker only pays mining fees for the trade fee transaction. An offer taker pays mining fees for the trade fee transaction, deposit transaction, and payout transaction. This is because mining fees fluctuate and it's impossible for the offer maker to know what mining fees will be at the time their offer is taken.</p>
Expand Down