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    💲Explanation of Adaex Fees

    :::tip
    In Adaex, there are two types of fees: system fees and mobile money fees. Here is a detailed explanation of each type of fee, with formulas and examples for clarity using a conversion rate of 1 ADA = 0.45 USD.
    :::

    System fees are charged in ADA and represent the gain for Adaex. The Adaex app charges a system fee of 3 ADA for all transactions under 3 ADA, and 2% for all transactions above 3 ADA. Here’s how it works:

    $$
    System Fee=Transaction Amount in ADA×System Fee Rate
    $$

    • Example:
      Suppose the system fee rate is 1.5%.

    If you want to convert 100 ADA, you need to send a slightly higher amount to cover the fees. The total amount in ADA you need to send will be:

      *Total Amount in ADA=Desired Conversion Amount×(1+System Fee Rate)*

    Total Amount in ADA=100 ADA×(1+0.015)=101.5 ADA

     
    <Accordion title="Mobile Money Fees">
Mobile money fees depend on the mobile money aggregators, not on Adaex. These fees vary by country and mobile money network. The payment of these fees is retained during the local money transfer. Here’s how it works:
    
    <Card title="Formula:">

    $$
    Mobile Money Fee=Amount Sent in Local Currency×Mobile Money Fee Rate
    $$

    * Example:
    Suppose you send 100 USD in local currency, and the mobile money fee rate is 2% for your specific country and network.

    The mobile money fees would be:
    Mobile Money Fee=100 USD×0.02=2 USD

        So, to send 100 USD in local currency, 2 USD will be retained as mobile money fees, and the recipient will receive 98 USD.
    > **Complete Example** Let’s put together a complete transaction to illustrate both types of fees: - You want to convert 100 ADA to local currency via Adaex. - The system fee rate is 1.5%. - The mobile money fee rate in your country is 2%. - The conversion rate is 1 ADA = 0.45 USD. 
      :::highlight yellow

    Total Amount in ADA=100 ADA×(1+0.015)=101.5 ADA
    :::


    - You send 101.5 ADA.
    - After deducting the system fees, you have 100 ADA for conversion.
    - Converting 100 ADA at a rate of 1 ADA = 0.45 USD:

    :::highlight yellow
    100 ADA×0.45 USD/ADA=45 USD
    :::

    :::highlight yellow
    Mobile Money Fee=45 USD×0.02=0.9 USD
    :::

    :::highlight green 📌
    45 USD−0.9 USD=44.1 USD
    :::


    Thus, by sending 101.5 ADA via Adaex, after deducting the system fees and mobile money fees, the recipient will receive 44.1 USD in local currency.

    :::info
    Buy Ada is comming soon
    :::


    :::info

    Swap $AEX is comming soon
    :::

    Last modified: 3 months ago