In order to use PlutusDEX to deposit fiat or Plutus Tap & Pay apps to sell cryptocurrency, you will have to provide basic KYC and AML.
|PlutusDEX (buying Crypto with EUR)||Tap & Pay (buying EUR with Crypto)|
|BETA Phase 1 (Weeks 1-3)|
|PLU only €500 for KYC1 unlimited for KYC2||PLU only €200|
|BETA Phase 2 (Weeks 4-6)|
|ETH and BTC added and increased limits*||ETH and BTC added and increased limits*|
*Limits will be adjusted over the course of BETA and the table will be updated with the increased limits once Phase 1 ends.
The following are the fees for trading cryptocurrencies, the fees for withdrawing/depositing EUR and a description of the mining fees:
|EUR Deposit/Withdrawal Fees||Trading Cryptocurrencies Fees||Mining Fees|
|0% in Beta||0% in Beta||Yes|
Trading cryptocurrencies - 0% while in BETA
Typically when a user places an order at market price which is immediately filled they are considered a taker. Conversely, when a user places an order which is not immediately filled as it is, for example, a sell order above market price then those users are considered makers.
During the beta period, there will be 0% maker/taker fees while using the PlutusDEX.
Fiat Deposit/Withdrawal Fees - 0% while in BETA
Deposit and withdrawal fees are the fees charged to a user when depositing or withdrawing fiat currency into/from their account.
Similar to our maker/taker fees during the beta period there will be 0% fees when depositing or withdrawing fiat.
These are fees which are paid to the miners of the blocks. Often gas fees are very low and are a crucial part of both the Bitcoin and Ethereum networks. On the PlutusDEX these fees will be paid for by the individual who is sending the crypto - not those who are receiving it.
To clarify, gas fees are not charged by Plutus. These fees are charged by the network in return for the processing of the blocks by miners.