Do you charge a "spread"?

A “spread” is the difference between the price that someone pays for an asset and the price that is offered to others.

Most of the time, we purchase bitcoin through our partner, Prime Trust. Prime Trust sells us bitcoin for 0.5% more than the spot price of bitcoin. We include this “spread” in the price of bitcoin that we offer to customers. Coinbits does not take a spread. We simply pass along the price we pay to Prime Trust.

Beware: Some bitcoin companies say they don’t charge fees, but that’s because they charge a spread instead. This allows them to advertise “zero fee bitcoin” while hiding the fact that their bitcoin is more expensive. Coinbits would never do this because it would violate our commitment to trust.

Updated on:
November 14, 2022