BitPay: Buy Crypto Without Fees | Store, Swap & Spend Bitcoin (2024)

FAQs

Can you swap crypto without fees? ›

KuCoin Convert allows users to swap cryptocurrencies with zero trading fees. This feature ensures that traders can exchange their assets without additional cost, making it an attractive option for those looking to manage their crypto portfolio​​efficiently.

BitPay charges a small processing fee of 1-2% + 25¢ per transaction to BitPay merchants. Merchants may choose to pass this fee on to the buyer.

Swap assets: Swapping crypto directly from the BitPay Wallet is an easy way to maintain full control over your crypto conveniently in one place. P2P transactions: Send and receive BTC from friends and family to build your portfolio.

The minimum amount a BitPay wallet allows for a transaction is 50 bits or 0.00005 BTC. This limit ensures your transactions always get relayed by nodes in the network. Was this article helpful?

Lykke offers an all-in-one free crypto trading platform with zero trading fees and low buy-sell spreads. We cover your fiat deposit and withdrawal fees, enabling you to trade crypto for free on Lykke.

BitPay complies with the requirements of Section 6050W of the Internal Revenue Code. This Section requires payment processors to provide information to the IRS through Form 1099-K reporting.

Cost Breakdown for $1,000 of Bitcoin

Here's how the fees would add up: Retail Fee: Let's consider the higher end of the retail fee range ($4.95) for this calculation. $4.95 per transaction x 2 transactions = $9.90. Bitcoin Purchase/Conversion Fee: $1,000 x 11% = $110.

BitPay does not limit the amount of Bitcoin you can buy through our app. However, our partners Simplex and Wyre may impose daily transaction limits that vary by purchasing currency. Start with little as $50 and buy up to $150,000 per day.

Unlike crypto trading, which involves first selling one coin for fiat and then buying another coin with fiat, crypto swapping reduces the number of intermediaries and costs by allowing direct exchange between users or their wallets with minimal fees and delays.

Yes, BitPay offers flexibility in how much crypto you convert to cash. Start by selling as little as $30 worth of crypto. You can sell up to $100,000 daily and $250,000 monthly via ACH and bank transfers. For card transactions, the limits are $10,000 daily and $100,000 monthly.

What happens when you swap crypto? ›

Crypto swapping is basically directly converting your assets to another currency to either build a portfolio, cut losses, use crypto as payment, or avoid slippage costs or other high transaction fees. Crypto exchange, on the other hand, is for buying and/or selling crypto.

Typically, Payments ≥ 3000 USD or refunds ≥ 1000 USD require users to provide additional verification by obtaining a BitPay ID.

You do not need an account on bitpay.com to use your BitPay Wallet. Your BitPay Wallet is secured using your device and your private key: by design, BitPay never has access to your bitcoin or your wallet. Have you backed up your BitPay Wallet? It's extremely important that you do so.

BitPay has a $6 USD minimum withdrawal amount, and you will also incur a payout fee.

If you're a Coinbase customer, you can also send crypto to any email address in 100+ countries for free. Just open your Coinbase app, select the crypto and an amount, enter the recipient's email address, and hit send.

Every time you buy, sell, or swap a cryptocurrency on an exchange, the platform takes a small percentage of the transaction as their fee. These are called trading fees and are typically categorized into “maker” and “taker” fees.