Commission for currency exchange

The commission for currency exchange operation will be added for “sell” or deducted for “buy” from the system exchange rate.

What are “Sell” and “Buy” from the system point-of-view:

• sell – system sells currency to a customer, so the commission will be added to the system exchange rate
• buy – system buys currency from a customer, so the commission will be deducted from the system exchange rate.

Learn more about commissions

Sell and Buy logic in API implementation

APIs for commission calculation and operation execution has the same request body structure.

In exchange type SELL it means that as a user I want to sell 100 EUR from "inCoinSerial": "{{EUR account}}" and get the exchanged amount into my "outCoinSerial": "{{USD account}}"

{
  "inCoinSerial": "{{EUR account}}",
  "outCoinSerial": "{{USD account}}",
  "exchangeType": "sell",
  "amount": 100
}

In exchange type BUY it means that as a user I want to buy 99 USD into "outCoinSerial": "{{USD account}}" and pay for that operation from my "inCoinSerial": "{{EUR account}}"

{
  "inCoinSerial": "{{EUR account}}",
  "outCoinSerial": "{{USD account}}",
  "exchangeType": "buy",
  "amount": 99
}

To ease the understanding of this flow you can imagine this logic from the perspective of the currency exchange office:

• you bring 100 EUR to Sell, it’s incoming operation "inCoinSerial" and receive USD, it’s an outgoing operation "outCoinSerial"

• you came to buy 99 USD and the cashier tells that firstly you need to give 85 EUR, it’s an incoming operation "inCoinSerial" and then he gives you 99 USD, it’s an outgoing operation "outCoinSerial"