What is GetFaircoin
Getfaircoin.net is an easy way to buy Faircoin from different national currencies like EUR / USD / CNY / RUR / GBP with commonly-used payment methods like wire transfer, credit card, paypal, and in the long term, physical places set up by local nodes involved in FairCoop.
Getfaircoin is backed and managed by FairCoop, the Earth Cooperative for a fair economy.
How it works
You need to choose your option depending on the way that you are going to make the payment (like wire transfer or credit card / paypal ).
When choose your option you must to put the amount of money that you want to pay. This can be done in your local currency or Euros.
Also you must to choose where you want to receive your Faircoin. You have three options:
- Download a Faircoin wallet, and copy the address that the wallet gives you. See the tutorials about it here: https://getfaircoin.net/tutorial
- Choose to store your Faircoin in the Fairsaving service from FairCoop, See info about Fairsaving here →/fairsaving-2/
- Open an account in an exchange (like bittrex.com or alcurex.org) and give us the Faircoin address that the exchange created for you (actually we don’t recommend storing Faircoin in an exchange but you can do it if you want to.)
After you have filled in the form, and after we’ve received the payment, you will receive the accounted amount of Faircoin to your Faircoin address and after that we will send you a message to notify you about the transaction. Because this is a manual process, there could be a delay of between 24 and 48 hours between completion of the payment and receiving your faircoins.
Payment options and fees
Getfaircoin charges 1% for every transaction. And this amount in Faircoin goes to the Pooled fund of the FairCoop ecosystem with the aim to cover FairCoop expenses. Except in the case of physical exchange in local nodes, where that will go towards sustaining the local nodes.
Otherwise, the user needs to take into account the fees of the payment option that they’re using. In practice it will mean that the options of credit card or paypal will have an added 2% of fees.
Today’s exchange rate will be shown at the top menu of this site. This is the exchange rate on which we will be basing the Faircoin transaction.
This exchange rate will be changed every day around 04.00 CET. And to calculate the new exchange rate we will use the price of the lower limited sell orders that have been active in https://www.bittrex.com/Market/Index?MarketName=BTC-FAIR the last 24 hours.as a main reference,.
Also please note that Getfaircoin.net reserves the right to consider other criteria, for example the history of previous days, that could be used to give stability to the Faircoin price and minimize the speculative activity that could potentially develop in relation to Faircoin.
A payment example
We suppose that the rate today is 1 euro = 100 Faircoin and someone wants to use paypal to buy Faircoin with Getfaircoin.net
A payment of 10 Euros is made, and we receive 9,8 Euros
With this conversion rate 980 Faircoin will be moved:
= 970,2 to the user account
= 9,8 to the pooled fund from Faircoop