Due to the daily fluctuation of market, the withdrawal fee in the form of fixed amount can not keep up with the change of currency price, which leads to the high cost for users to use the withdrawal function. To help users reduce the withdrawal cost, the platform plans to adjust and upgrade the withdrawal fee from the original fixed amount to the dynamic amount.
The calculation formula of withdrawal fee is as follows:
Withdrawal fee of a currency on that day = actual price of withdrawal fee/average price of that currency on the previous day
The calculation formula of the average currency price is as follows:
The currency prices of the previous day from 00: 00: 00 to 23: 59: 59 are updated at the system time 01:00:00 every day. The average price equals to the accumulation of prices (price of each hour of the previous day is acquired at 24:00:00 every day, and 24 prices are acquired in total) / 24. If the currency price for a certain hour is not acquired and the price acquisition period is not 24 hours, average price shall be calculated based on the actually acquired prices. Example: If only 23 prices are acquired, the average price equals to the accumulation of the 23 prices (converted into USDT price through the pricing currency) / 23, and so on.
Note: As for a new currency, since the previous day's currency prices cannot be acquired, the withdrawal fee is charged in the form of fixed amount for the time being, and will be adjusted to dynamic amount later.
WBF Exchange team