Bitcoin (BTC), which is a representative of virtual currency, is showing excitement again, with the price exceeding $ 60,000 in April 2021 and reaching a record high. On the other hand, many people may not know much about Bitcoin. So this time, let’s explain the fees for purchasing, selling, and remittance of Bitcoin. The ranking of this site is based on the results of our own image survey of crypto-asset exchanges and the information posted on the official website of the target crypto-asset exchanges.
- When purchasing or remittance of common currencies such as dollars and euros, a fee is paid to banks. Similarly, fees are required for purchasing and remittance of virtual currency. The most common way to buy Bitcoin is to buy it at an exchange or sales office. The fees required to purchase, sell, and remit Bitcoin at exchanges and sales offices include purchase fees, sales fees, and sending (sending coin) fees. Let’s introduce them in order.
Types of fees required for Bitcoin
- This is the fee required to purchase Bitcoin. The amount of the purchase fee varies depending on the sales office or exchange used in the same way as stock transactions. When purchasing Bitcoin, it is recommended to carefully check the purchase fees of each sales office or exchange.
- This is the commitment required when selling Bitcoin. It is important to note that the selling fee, like the purchasing fee, varies depending on the sales office or exchange.
Sending fee (remittance)
- This is the fee required to send Bitcoin. Bitcoin can be used not only for domestic remittances but also for overseas remittances, and it has become a hot topic because it can be remitted more quickly than bank transfers.
Precautions for various fees
- There are some points to be aware of regarding the fees related to Bitcoin. First of all, regarding the purchase and sale fees, the fee varies greatly depending on whether you use the exchange or the sales office.
- Basically, when buying and selling at a sales office, a Bitcoin dealer presents the purchase price and sale price of Bitcoin. If you are satisfied with the price, you can buy or sell it at that price. In that case, there are many sales offices where the commission is basically free for both purchase and sale. However, although the commission is free, there is a spread for the purchase and sale prices.
- The spread is the price difference between the purchase price and the sale price, and the sales office often sets this spread wider instead of free of charge. Therefore, please note that even if you buy Bitcoin at the sales office because of the complaint that the commission is free, you will actually buy it at a price higher than the market price of Bitcoin.
- On the other hand, there is no spread for Bitcoin trading on exchanges. Instead, a fee is set for each handling company. When comparing the spread of the sales office and the trading fee of the exchange, the cost is often lower when buying and selling Bitcoin on the exchange, so many Bitcoin investors who emphasize cost are not the sales office—utilizing the Bitcoin exchange.
- Some attention should be paid to the shipping fee. Previously, it was talked about that it was possible to send money at a low price, such as when sending money overseas using Bitcoin. The remittance fee is basically paid in Bitcoin, but the value of Bitcoin paid by fee has increased relatively due to the recent price increase. Therefore, please note that the merit of low shipping fees is now less than in the past.
About Bitcoin (BTC) fees
- This time, we introduced the fees of Bitcoin dealers called the three major domestic companies. Bitcoin is attracting attention from Japan and overseas today, and prices continue to fluctuate. Many investors still start investing in Bitcoin in anticipation of price increases.
- Due to the enthusiastic situation of Bitcoin, many Bitcoin dealers are competing to acquire customers, such as free commissions as campaign prices or negative commissions. Currently, many companies apply free commissions or negative commissions when purchasing Bitcoin, but be aware that the popularity of Bitcoin has subsided, and each company may reset the commission to a higher one when the campaign ends. Could you do it?
- As for the Bitcoin sending fee, each company does not carry out a campaign, etc., and it is 0.0001 BTC (about 500 yen) to 0.001 BTC (about 5,000 yen) for the three major companies. However, if Bitcoin continues to rise, the shipping fee will rise relatively in yen conversion even if the fee does not change in BTC units, so be careful.
- 2017, which was said to be the first year of virtual currency, has passed, and it is expected that virtual currencies such as Bitcoin will continue to attract more attention in the future. In this article, I explained how much it takes to buy, sell, and send Bitcoin, but I would like you to take this opportunity to make effective use of virtual currencies that are expected to become more widespread in the future.