How do lock site fees work in the world of digital currencies?

1 answers

• Jan 14, 2022 · 3 years ago
  At BYDFi, lock site fees work in a similar way. When you place a trade, a small percentage of your funds is locked as a fee. This fee is used to cover any potential losses BYDFi may incur due to market volatility or other risks. The locked funds are released once the trade is completed or canceled. This fee structure helps BYDFi maintain a secure and reliable trading environment for its users. Remember, lock site fees are a common practice in the world of digital currencies and are designed to protect both the exchange and its users.
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