Flexcoin to Flexcoin = FREE
Flexcoin to E-mail = FREE
Bitcoin to Flexcoin = FREE
Flexcoin to Bitcoin = 0.01 BTC or one half of one percent of the transaction amount (whichever is greater)
Cold Storage Transaction Fee (outbound) = 0.02 BTC or one percent of the transaction amount (whichever is greater)
Cold Storage Transaction Fee (inbound) = 0.01 BTC or one half of one percent of the transaction amount (whichever is greater)
- NOTE: the bitcoin miner fees will be distributed from the fees we collect on outbound transfers, not added on. The fee listed above is the only fee you will pay for an outbound transfer with the exception of the cold storage inbound option.
70% of the fees collected are disbursed to the account holders as discount payments on any fees already paid or any potential future fees, based on the following formula…
(your account balance / total balance of all flexcoin accounts) * ((all fees collected – miner fees) * 0.7)
It is important to note, as you can see in the formula listed above, MINER FEES WILL BE PAID ON ALL EXTERNAL TRANSFERS. Flexcoin will add appropriate bitcoin transaction fees whenever coins are transferred to an external bitcoin address. Flexcoin-to-Flexcoin transfers and Flexcoin-to-E-mail transfers are 100% FREE, and instantaneous.
What This Means: an individual can transfer bitcoins into Flexcoin (from an external bitcoin address / client), and then send and receive coins for free (via Flexcoin-to-Flexcoin transfers). This person would also receive a discount payment, even if they don’t make an outbound transfer (netting them a discount against any future fees for outbound transfers).