Billing methodology

BitGo calculates our customers’ bills according to the following terms.

Price Feeds:

Transactions on BitGo Platform V2 will be assessed a notional USD value using a combination of the BitcoinAverage rate and the CryptoCompare rate at the time of the transaction.

Transactions on BitGo Platform V1 will be assessed a notional USD value using the Tradeblock XBX Index rate at the time of the transaction. See Tradeblock's constituent prices and more information about the XBX methodology on the right panel on this page.

Assets Under Custody (AUC):

We calculate AUC fees for a given set of wallets under an enterprise on a per-coin level. The set of wallets included in AUC billing can differ from contract to contract, but generally includes all of the customer’s custodial wallets.

AUC billing is based on a percentage fee (bps) calculated on the average USD balance of assets under custody over the month (see “Computing Average Balance” below). Each coin and token bill may be calculated separately and given its own line-item in the bill.

Even though custodial wallets may execute a minimal number of transactions and therefore have the same coin-based balance over the course of the month, the USD value of the coins varies over the hours of the month resulting in differing USD-based balances at each hourly fencepost.

We calculate balances at the beginning of each hour. This means that transactions or price changes in the very last hour of the month are not reflected in the average for that month; instead, they will be reflected in the average for the following month.

Computing Average Balance:

For each wallet, we calculate the balance in coins for that wallet at the top of each hour, and multiply the balance by the price of the coin as of that point in time to derive the hourly USD balance.

We then average the hourly USD balances, to derive the average USD balance for the month.

The average monthly USD balance is then multiplied by the rate or tiered rates specified in the customer's contract.

Volume Discount Pricing (VDP) / Transactional Billing / Tiered Billing:

“VDP,” “Transactional Billing,” and “Tiered Billing” are all used interchangeably to refer to the billing structure used for self-managed wallets.

For this type of billing, we only bill outgoing transactions sent to wallets outside of the customer’s enterprise. Transactions sent to wallets maintained by the customer’s enterprise will not be billed.

The billing report in VDP is separated by coin, and each coin and token have their own entry or entries in the bill. In tiered billing, each coin starts the count from 0. On each externally sent transaction, we use the USD value sent and count it towards the billable amount sent for that coin.

Let’s look at an example:

Customer has 2 AUC tiers:
- $0 - $1,000,000 at 25 bps
- $1,000,000 and higher at 20 bps.
Their BTC sends from 0 to 1 million USD will be billed at 25 bps, so they would pay $2,500 for it. All BTC sends thereafter will be billed at 20 bps.
However, if the customer then did an ETH send of $100, it would still be billed in the 25 bps tier because the tiers are distinct for each coin.
If a transaction exists in both tiers, such as when a customer that has already sent $999,000 in XRP later sends $2,000, then the first $1,000 would be billed at 25 bps and the next $1,000 at 20 bps.

Final Bill

The final bill adds together the AUC and VDP charges and compares that to the customer monthly minimum (MM).

PayGo

For Self-Custody under PayGo, transaction fees are 0.25% per transaction.