Spark is the utility token used on CoinSpark to provide a discount on trading fees. In the near future, Spark tokens will also be used by companies to pay exchange listing fees, and will be used for voting on potential new token/coin listings and product features.
Our trading fees are: 15 bps (0.15%) for maker orders and 25 bps (0.25%) for taker orders.
Every trade on a continuous order book involves two orders: one that provides liquidity to the order book, and another that removes liquidity from the order book. For a buy or sell order to provide liquidity, it must first be posted to the order book. This means that it doesn’t fill immediately since it doesn’t match with and trade against an existing order; instead it must rest on the order book until another order matches and trades against it. This kind of buy or sell order adds liquidity to the marketplace and is called liquidity-making — the customer who places it is referred to as a maker. On the other hand, a buy or sell order that immediately matches with and trades against an existing order on an order book removes liquidity from the marketplace and is called liquidity-taking — the customer who places it is referred to as a taker. Because liquidity-making orders do not fill immediately and, therefore, bear more market risk, they receive greater incentives.
We require deposits to receive a minumum number of confirmations on its blockchain before the funds can be credited to your account.
What are confirmations?
After a transaction is broadcasted to the blockchain, it is presented to be included in a block by the miners. Once a transaction has been included in a block, the transaction has received 1 confirmation. With each subsequent block, the number of confirmations increases for the transaction. To avoid the risks of double spending, funds will not credited until a minimum number of confirmations have taken place. The minimum number of confirmations vary between coins / tokens. Each block is found at a different rate depending on the blockchain. For example, a block is found on average every 10 Minutes on the Bitcoin blockchain, and CoinSpark only credits XBT/BTC deposits to a client’s account after 6 confirmations, which takes approximately one hour.
CoinSpark does not charge a deposit fee.
We charge a small withdrawal fee when you withdrawal funds from CoinSpark. These fees are to pay for the transaction (TX) fees on the blockchain. We update our withdrawal fees regularly, so be sure to check back often to get the current fee.
BCH – 0.0001
BTC – 0.0004
DSH – 0.01
ETH – 0.0027
LTC – 0.001
SPARK – 0.04
XMR – 0.04
XRP – 0.02
Currently, CoinSpark offers trading pairs with Bitcoin (BTC) and Ethereum (ETH).
CoinSpark plans to offer additional pairings, including: Bitcoin Cash (BCH), USD, GBP, EUR, JPY, KRW, CAD, and BRL.
After logging into your account, you can set-up Two-Factor Authentication (2FA) by clicking on the Settings tab.
For those interested in submitting a token / coin to CoinSpark, please click here to begin the process.
We are currently developing our mobile iOS and Android apps, and they will be available in the App Store and Google Play store soon.