We charge a fee for the provision of the Services (the Self-Custody Service Fee). The Self-Custody Fee is a recurring annual fee that is calculated as a percentage of a partner’s USD denominated average annual balance of Virtual Currencies on the Self-Custody (the “Annual Recurring Service Fee”).
The Self-Custody Fee shall accrue as soon as the account has been successfully opened. The Annual Recurring Service Fee shall be the greater of the annual average of USD denominated value of Virtual Currencies on the Self-Custody multiplied by the percentage displayed below; or the Minimum Yearly Service Fee displayed below.
|Account Type||Personal Account||Premium Account|
|Available Signature Mode||Singlesig||Singlesig and Multisig|
|Annual Recurring Service Fee||0.7%||0.5%|
|Minimum Yearly Service Fee||USD 125||USD 1,000|
Self-Custody Terms and Conditions
Explanation of Service Fee
The annual average of USD denominated value of Virtual Currencies on the Self-Custody shall be calculated as follows: At 4:00 PM CE(S)T of each calendar day during the billing year, the sum of Virtual Currencies is to be quantified in USD using the spot rate(s) available on Coinbase at that time and day. The USD values so determined for all calendar days during the billing year shall be added together, such sum then to be divided by the number of calendar days in the billing year.
Any Self-Custody Service Fee shall be due and paid within three (3) days of receiving the invoice, which will usually be sent on the last day of the calendar year. The first Self-Custody Minimum Service Fee is due within three (3) days after the account has been successfully opened. The Self-Custody Service Fee must be settled in BTC and will not be automatically charged to the client’s Self-Custody. On the one year anniversary of the first Minimum Yearly Service Fee payment, the Annual Recurring Service Fee will be due. The paid Minimum Service Fee will be deducted from the invoiced Annual Recurring Service Fee. The Payment may occur either by a wire of BTC from the Self-Custody or from any other wallet. In case a Self-Custody Service Fee has not been settled within a given time period, the account will be deactivated.
As an example, if a Client opens a “Personal Account” with the equivalent of USD 100’000 in Bitcoin in it, the Client is charged a Minimum Fee of USD 125 within three days of opening the account. On the one year anniversary, assuming the partner held annually average assets of USD 100’000 on the Self-Custody, an Annual Recurring Service Fee of USD 575 will be invoiced (USD 100’000*0.70%-USD 125 Paid Minimum Fee).
If you have any questions or concerns about the terms and conditions and pricing structure, please do not hesitate to contact us. Please use the contact form here. A representative will be happy to assist you as soon as possible.