How much does Purse charge?
Purse’s wallet to send, receive and store digital currency is free. Network transaction fees apply.
We do not charge any fees for Shoppers using Buy Now.
Name Your Discount
We charge a fee for Name Your Discount based on the set discount. We will always display the fee that applies for your order. See below for fee schedule.
For orders with 10% discount and below we use a flat fee of 1.9% The exact formula used to calculate the fee is exp((discount - 10) / 15) + 0.9. Here's a practical example:
Assume an item has an original price in Amazon of $101.84, the selected discount is 22% and the Bitcoin price is $9050.3367.
1. The shopper fee will be exp((22- 10) / 15) + 0.9 = 3.125541%
2. 3.125541% is rounded into 3.13%
3. 3.13% of 101.84 USD is $3.187592
4. 3.187592/9050.3367 = 0.00035221 BTC this is the shopper's fee
What happens if Bitcoin price changes?
The exchange rate gets locked in at the time an order is taken by Earners and they commit to the purchase. A small buffer of 8% is included in the the price of your item to account for any changes in the bitcoin price due to volatility. We hold those funds securely in escrow until the end of the order. Once order is complete those funds are automatically returned to you. This is to ensure your order still gets fulfilled during times of heavy price volatility.