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What is the Applied BTC Rate? Why is it higher?

Bitoff matches the shoppers and earners. Shoppers receive a discount, and the earners receive cryptocurrency.

Earners pay the order's full cost and get crypto equivalence based on its cost after the discount. Therefore it seems that they are paying extra in comparison to the real-time value of a Bitcoin.
The applied BTC rate is showing how much** above the market** are earners paying for each order.

Here is a quick example to understand it better:

Consider that the Real-time BTC value is: 32,215.38
to have 1.0 BTC, you need to spend 32,215.38 $, right?

Now, consider that you pick up a 100$ order with 10% off.
You will spend 100 dollars, but you will receive BTC equivalence to 90 dollars (since the shopper got 10% off).

So the amount you are paying for BTC is above the market, and we show you the exact amount percentage.

If you'd ever like to check this, you can use the formula below:

BTC amount = (Total price - OFF amount) * BTC Rate

Applied BTC Rate = total price / BTC amount

On the corner of the page, you can see the real-time value of a bitcoin.

Updated on: 21/11/2021

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