Understanding our Fees and Spread
This article explains the spread and fees that users will encounter when using HardBlock Bitcoin Exchange. Our aim is to make things as simple and transparent and possible, if you have any questions please contact us: firstname.lastname@example.org
When exchanging Australian Dollars (AUD) for Bitcoin or vice-versa, users will encounter two quoted prices for Bitcoin.
- The BUY price is the price that users can buy bitcoin from HardBlock for.
- The SELL price is the price that users can sell bitcoin to HardBlock for.
Please note that these prices are frequently updating, so you may not always see the exact same price in a buy or sell order as what was previously visible in the website header, however these prices all display from the same source.
The difference between the BUY and SELL price is called the spread. A spread is a commonly used mechanism in exchanges, and can be found in exchanges such as the Australian Stock Exchange or a foreign currency changer. HardBlock's revenue is sourced entirely from the spread.
At the time of writing, the BUY and SELL prices are as follows:
- BUY $57,779
- SELL $56,184
Some exchanges also charge a fee (eg 1%) in addition to the spread when exchanging bitcoin. HardBlock does not charge a fee when buying or selling bitcoin. This means at times that our spread is higher than that of other exchanges although once fees are taken into account our users can generally achieve a better overall exchange price. We believe having only a spread and no exchange fee makes for a simpler and more transparent experience for our customers.
For a more technical explanation of our bitcoin withdrawal fees, see our article here.