💲Explanation of Adaex Fees

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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

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:

Formula:

S ys t e m F ee = T r an s a c t i o n A m o u n t in A D A \times S ys t e m F ee R a t e

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

Mobile Money Fees

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.

Calculate the system fees

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

Convert the remaining ADA to local currency:

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:

100 ADA×0.45 USD/ADA=45 USD

Calculate the mobile money fees:

Mobile Money Fee=45 USD×0.02=0.9 USD

Final amount received by the recipient:

📌

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.