Finder App Crypto Trading FAQs

We've listed some of our most-asked questions below. Have a look and see if your question has already been answered.

• 1. Why trade with Finder Wallet?

  Because cryptocurrencies are so different to other assets, they can be confusing and daunting for people new to the space.

  Finder Wallet makes it easy for crypto-curious folk to get started.

  We provide a simple, approachable and fee-free crypto trading experience.

  Right now, 13 crypto assets are available for trading, including Bitcoin and Ethereum, the 2 largest and best-known.

• 2. Are there any trading, commission or brokerage fees on crypto trades in the Finder app?

  No, there are no trading, commission or brokerage fees charged on crypto trades.

• 3. How is the trade price set?

  In crypto markets, no "standard" or "global" pricing exists for decentralised crypto assets such as Bitcoin and Ethereum. It's like this because no single entity sets the price for crypto assets at any given moment. Rather, the price is based on supply and demand across the entire market, driven by a number of factors such as liquidity, regulatory adoption, currency and venue of exchange.

  When you look to place a trade to buy and sell crypto assets, we separately acquire or dispose of this cryptocurrency via our global digital asset exchange partners. As crypto asset prices are volatile and can change between the time you submit an order with us and the time we acquire or dispose of the cryptocurrency, the trading price is set to manage this risk.

  We show you the estimated rate we're able to buy or sell from you on the order review screen each time prior to you buying or selling a crypto asset. Once you submit the trade, a final price will be secured and displayed to you in your trading history.

• 4. Why do I see different values on the crypto tab and coin screens compared to the buy and sell screens?

  When you go to trade a crypto asset such as Bitcoin or Ethereum, we show you the estimated rate at which we're able to buy or sell those crypto assets for you at that moment on the buy and sell screens.

  Values on the rest of the crypto tab and coin screens however, are calculated using an average of the buy and sell prices for a given asset, sourced from a reference third party market data feed.

  The average of the buy and sell rates used for calculations is often known as the "mid-market price" or "mid-market rate". Using the mid-market rate for approximate calculations is common industry practice.

  Calculations using the mid-market rate are provided as a convenient way for you to track the approximate value of your crypto holdings and/or a coin's value in AUD.

  The mid-market rate is not the rate you'll be quoted when you go to buy and sell a given asset. This is because the mid-rate is an average of buy/sell rates, not the actual buy or sell rate.

• 5. Why is Finder providing cryptocurrency products and services?

  We believe that cryptocurrency is an important emerging personal finance topic that our members should pay attention to. Many Australians agree - our research shows that more than 1 in 5 own cryptocurrency - for reasons ranging from portfolio diversification through to a goal of building wealth over the longer term.

  The problem right now is that cryptocurrency is new and complex, which makes it challenging to get started.

  We know this problem first hand because we've been comparing cryptocurrency exchanges and helping members learn about how to get started with crypto since 2017, amongst our other ventures in the space.

  Our mission of helping people make better decisions includes simplifying decisions in domains that are complex to understand. This is what we've set out to achieve through a set of really simple and approachable cryptocurrency products and services available through Finder Wallet in the Finder app.