Beaver Bitcoin charges 3% on every weekly buy. For example, from a $100 weekly buy, $97 goes toward buying bitcoin, and $3 goes to Beaver. This fee is used to pay our our payment processor for initiating a weekly EFT, our liquidity provider, and the bitcoin network fee for the end-delivery of bitcoin to your wallet. The remainder goes to us and is used to run the business and provide the service.
- We are the only company in Canada offering this service, fully automated, end-to-end, from your bank account to your bitcoin wallet.
- The chances of chargebacks, reversals and fraud are quite high when using electronic fund transfers (EFTs).
- Because of this, our payment processor requires that we hold 5% of our total EFT transaction volume in our account with them, for 90 days.
A 3% fee allows us to cover our costs and meet part of this reserve requirement, while ensuring it makes economic sense for us to offer the Recurring Buy service.
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