Terms of fixing rates by Crybex service

Crybex is an exchange service that provides cryptocurrency conversion services for fiat currencies, virtual assets and other cryptocurrencies. We allow users to easily and quickly exchange their assets with minimal cost and maximum security.

Our exchange service takes into account the price on several cryptocurrency exchanges such as: binance.com, bitexbit.com, whitebit.com, bitstamp.net, huobi.com when calculating the value.

In addition, when calculating the value of fiat currency, Crybex takes into account the price ratio to the U.S. dollar at xe.com.

The amount to be disbursed is calculated at the exchange rate on the site. The rate is fixed at the time of crediting the service address, during business hours. In order for the cryptocurrency to be credited, a transaction sent by the user must receive a certain number of confirmations, which depends on the network. To find out how many confirmations are needed to credit your cryptocurrency, check the table below:

Exchange of cryptocurrency to fiat money

Detailed calculation of the amount to receive and fee of the service in formulas:

Amount of fiat currency to be received (Ao):
(Pex / Pf – F) * Nc = Ao
Pex – the cryptocurrency price at the exchange at the moment of its receipt by the exchanger;
Pf – cross-rate of fiat currency to USD at xe.com at the moment of coins receipt by the exchange office;
F – fee of Crybex;
Nc – the number of sent coins.

Crybex fee (F):
(Pcr / (Pex * Pf) – 1) * 100 = F (%)
Pcr – the price of 1 coin at pride-znp.ru at the moment of its receipt by the exchanger;
Pex – the price of the cryptocurrency on the exchange at the time of its receipt by the exchanger.
Pf – cross-rate of fiat currency to USD at xe.com at the moment of coins receipt by the exchanger.

Exchange of fiat money into cryptocurrency

Detailed calculation of withdrawal amount and service fees in formulas:

Amount of cryptocurrency currency to be received (Ao):
((Ai – F) * Pf / Pex) = Ao
Ai – the amount of fiat currency given by the user;
F – the Crybex fee;
Pf – cross-rate of fiat currency to USD at xe.com at the moment of fiat currency receipt by the exchanger;
Pex – the price of cryptocurrency on the exchange at the time of receipt of fiat currency by the exchanger.

Crybex Fee (F):
(Pcr / (Pex / Pf) – 1) * 100 = F
Pcr – the cryptocurrency price at pride-znp.ru at the moment of getting fiat currency by the exchanger;
Pex – the cryptocurrency price on the exchange at the moment of fiat currency receipt by the exchanger;
Pf – cross-rate of fiat currency to USD at xe.com at the moment of fiat currency receipt by the exchange office.

Crypto-to-crypto exchange

Detailed calculation of the amount to be received and fee of the service in formulas:

Amount of cryptocurrency to be received (Ao):
(Pexi / Pexo – F) * Nc = Ao
Pexi – the cryptocurrency price at the exchange at the moment of its receipt by the exchange.
Pexo – the price of the cryptocurrency to be received on the exchange at the moment of its receipt by the exchange.
F – Crybex fee;
Nc – the number of sent coins.

Crybex fee (F):
((Pexi / Pexo)/Pcr – 1) * 100 = F (%)
Pexi – the price of the cryptocurrency at the exchange at the moment of receiving it by the exchange.
Pexo – the price of cryptocurrency to be received on the exchange at the moment of cryptocurrency receipt by the exchange.
Pcr – the price of the cryptocurrency I receive per 1 coin I give away on pride-znp.ru.

Stablecoins

Crybex provides services of converting stabelcoins* into fiat currencies, bank cards and cryptocurrencies, calculating the amount to be issued at the current exchange rate, which takes into account the service fee and is specified on the website.

Stablecoins are cryptocurrencies backed by other assets (fiat currencies – US dollars, euros, British pounds, gold, silver, securities, bills, and so on), such as USDT, USDC, BUSD.

When exchanging Stablecoins, the rate will be fixed during the service’s working hours for 30 minutes from the moment the new order is created. After this time, the rate may be recalculated in accordance with the current rate at the time of crediting coins to the Crybex address.

The amount receivable is calculated based on the actual amount received at Crybex, not the amount specified in the order.

Pay attention that each order becomes active from the moment of its creation for a certain period of time. After this time the systеm automatically deletes the order. If funds will be received by the exchanger after the deletion of the order by the systеm, the restoration of such an order will be carried out after the user’s request with the recalculation of the rate in the order.