How to get literally FREE payments and trading services at Globitex?Aug 06, 2019
Dear Globitex community
We recently added utility to the Globitex token GBX by setting the fee discount when using GBX to 50% and enabling EURO Wallet fee payments with GBX. In this email I would like to illustrate to you how you can save up to 95% on our fees.
Let’s assume you have some bitcoin and you want to buy a car for EUR 10’000. The seller only accepts EUR so you need to get from bitcoin on your wallet to EUR on the sellers account. This can be done just by using the Globitex platform. Let’s assume the price of 1 bitcoin at EUR 10’000 for simplicity.
Without holding any GBX the transaction steps and costs would be as follows:
- Send 1 bitcoin to Globitex from your wallet – Free, there are no deposit fees for crypto on Globitex
- Convert 1 bitcoin @ EUR 10’000 – EUR 20, the trading fee is 0.2% on Globitex
- Send EUR 10’000 to your Globitex EURO Wallet – Free, internal transfers are Free on Globitex
- Pay the car seller invoice via SEPA transfer from your Globitex EURO Wallet – EUR 5, the outgoing payment fee is 0.002% with a minimum of EUR 5
- The total cost of the transaction – EUR 25 or 0.25% of your initial 1 bitcoin
Now let’s use GBX to cover these fee payments:
- By using GBX, you get a 50% discount on the fees so total EUR cost is – EUR 12.5
- When using GBX at Globitex, it’s value is calculated as the maximum between EUR 0.1 and the market price. since the market price is below EUR 0.1, then we need 125 GBX tokens to cover the EUR 12.5 fees
- To acquire GBX tokens, we go to Globitex exchange and select the GBX/ETH trading pair. Buying 125 GBX tokens at current market price would cost you 0.00605 ether (~EUR 1.3)
- So the total cost in EUR for the same transaction as above – EUR 1.3 or 0.013% of your initial bitcoin
- The total saving from using GBX to pay for fees is around 95%
Business managers, please note that the GBX token can be used to pay for all standard EURO Wallet fees, including account opening, maintenance, payments and balance fees. You can currently buy on the market 40 000 GBX tokens at the price used above, which would buy you 40 months of Corporate account maintenance or up to EUR 8’000’000 in outgoing transactions. And the cost for that – EUR 400!
This is not investment advice. This is advice on how to use premium services for a small fraction of the cost!