Bitcoin transactions

For Bitcoin transactions, OpenNode processes the first $10,000 USD equivalent ($25,000 for non-profits) free of charge. We have no minimums, monthly or annual fees, or contracts required to sign up. OpenNode will charge the following tiered standard processing fees:

 

*this is the USD equivalent amount at the time of transaction

**industries considered “high risk” by the banking system may be charged higher fees than OpenNode’s standard processing fees

Bitcoin Transfers 

OpenNode offers instant transfers and scheduled transfers for Bitcoin.

Scheduled Transfers

Scheduled transfers are always free. Move your Bitcoin earnings from the OpenNode platform to an external Bitcoin wallet by selecting the toggle on the Wallets > Bitcoin wallet page.

Once enabled, OpenNode will process the scheduled transfer on the next Monday at 11:30 UTC (Universal Coordinated Time), and at the same time every Monday thereafter. If you would like to stop these transfers, simply disable the toggle. 

OpenNode processes scheduled transfers for free* and they are always posted on-chain. We never pass through our on-chain mining fees like some of our competitors do.

Instant Transfers

Instant transfers allow you to move your Bitcoin to an external Bitcoin wallet instantly either via our dashboard or through our API. Instant on-chain transfers incur a 1% fee while instant Lightning Network transfers are always free. Once again, no hidden fees! 

On-chain Bitcoin transfers can be initiated at any time, on any day. We have set up OpenNode transfers to settle within one block confirmation, typically resulting in an average 10-minute settlement time.

Lightning Network Bitcoin withdrawals can be initiated at any time, on any day as well. Normally, Lightning transactions settle instantly, so you should receive your funds within seconds after completing the transfer.

Automatic conversion

The Automatic Conversion feature allows you to exchange Bitcoin into any of our supported local currencies at the time of transaction. OpenNode gives you the freedom to convert the Bitcoin you earn instantly, or at a later date, all within your dashboard.

Exchange rates

We set exchange rates for USD using our exchange partner Wyre. Wyre charges us a spread - the difference between the buy and sell price - which we directly pass on to our users. No hidden fees!

For non-USD currencies, OpenNode uses algorithms provided by different partners which provides us a weighted average to determine the average price of Bitcoin across the world. 

Bank transfers

OpenNode charges 0.2% for bank transfers in local currencies. The exact fee will depend on a combination of which currency and transfer amount. You can find a list of supported currencies here. Example: if you initiate a transfer of 5,000 EUR, you’ll pay a transfer fee of 10 EUR - 0.2%. If you transfer 300 EUR, you’ll pay the minimum transfer fee of 7.50 EUR; in this case, the fee will be higher than 0.2%.

Minimum bank transfer amounts

OpenNode does not allow bank transfers below the following amounts:

 

Fee minimums for bank transfers

OpenNode bank partners charge the following minimum fees for supported currencies:

 

Minimum scheduled transfer amounts

OpenNode allows you to enable daily scheduled bank transfers. With this feature enabled, your full local currency account balance will be automatically transferred to your bank account daily once the minimum threshold has been reached. The following minimum amounts for scheduled bank transfers ensure we are providing you our lowest possible transfer fees of 0.2%.

 

Are you a high volume merchant?

Contact us directly at support@opennode.com to customize an experience that tailor fits your business needs.

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