Are there any fees?

Pocket charges an industry-standard service fee of 1.5%. This fee includes all our costs, so that there are no additional fees hidden in the exchange rate. We always pass the most current exchange rate (Kraken) to you.

As usual in the ethereum network, an additional network fee is deducted from each payout. Due to the nature of the ethereum network, it may vary over time and it's unrelated to the purchased amount. Because Pocket combines as many payouts as possible into one single ethereum transaction, this network fee is divided among several customers and averages at around 500–1000 vitaliks per payout, or around 10–25 cents.

If you make multiple purchases to the same Ethereum address in one day, you might only pay the Ethereum network fee once.

Fee breakdown

At Pocket, we take transparency very seriously. We do not apply any hidden spread on top of the fees we charge and you can easily verify that by checking the rate applied at order execution time (ethereum are purchased on Kraken).

Let's break it down to clarify how fees are applied:

1. The user sends 100 EUR.
2. 1.5% fee rate is applied and 98.5 EUR worth of ethereum are purchased for the user.
3. The order gets executed on Wednesday 22 December 2021 15:24. At that time ethereum was trading on Kraken at the price of 43.097,03 EUR.
4. 98.5 EUR / 43.097,03 EUR = 0.00228554 ETH. This is the amount of ethereum purchased for the user.
5. The purchased ethereum are sent to the user with the lowest possible ethereum network fee. In that case the network fee is 0.00000039 ETH.
6. 0.00228554 ETH - 0.00000039 ETH = 0.00228515 ETH. This is the amount of ethereum the user will receive into their wallet.