What fees will I encounter while using HardBlock?
At HardBlock, we pride ourselves on having no fees whatsoever while exchanging Bitcoin.
This means that while using HardBlock, you will never encounter a fee when doing any of these actions:
- Depositing money
- Buying Bitcoin
- Selling Bitcoin
- Withdrawing money
This means that if you intend to deposit funds in order to buy Bitcoin, there are no fees charged to do so.
The only place you will ever receive a fee is when sending Bitcoin to your wallet. This small fee is only charged in order to broadcast your transaction to the blockchain. The fee is clearly stated prior to sending your Bitcoin in order to be reviewed. The fee is calculated based on the market rate and is intended to recover our costs.
If you don't have fees, how does HardBlock earn money?
HardBlock earns money on the spread.
At the top of HardBlock.com.au you can see that the buy price is higher than the sell price. This is called the spread. A spread is a common mechanism in exchanges, including stock exchanges as well as traditional currency exchanges.