Fixed vs. Flexible Rates for Ads

Question

As a merchant, you may wonder: what’s the difference between Fixed and Flexible pricing when setting up my ad?

Answer:

When you’re setting up an ad to buy or sell crypto on the Onboard P2P marketplace, you’ll see two options under Rate Type: Fixed price and Flexible price. Here’s a breakdown to help you decide which works best for your trading strategy:

Fixed Rate:

Selecting a fixed rate means that the price you set for your ad will remain constant. It won’t change regardless of fluctuations in exchange rates. This is ideal if you prefer a more predictable approach where your rate remains locked in, helping you maintain control over your profits. However, note that if the market moves significantly, your fixed rate may become less competitive.

Flexible Rate:

If you opt for a flexible rate, your ad’s price will automatically adjust based on the real-time market rate. You can set a percentage (above or below) the current rate, and the system will handle updates in real time. This is particularly useful if you're an active trader who wants to stay competitive without constantly adjusting your ads manually.



When using flexible rates, you can also set:

Maximum rate (for buying): The highest price you’re willing to pay. This ensures that even as the market fluctuates, your buying price doesn’t exceed your set limit.
Minimum rate (for selling): The lowest price you’re willing to sell for. This prevents your selling price from dropping too low during market changes.

Which option is right for you?

If you want more control and certainty over your profits, choose Fixed price.
If you prefer a hands-off, competitive approach where your rate adapts to the market, go with Flexible Rate. This is especially useful for highly volatile markets or when you’re trading across different crypto assets and currencies.

Important Note for NGN Pairs:

For NGN-based trades, Onboard has a rate adjustment limit of 5%. This means that when setting a flexible rate, you cannot set your rate to be more than 5% above or below the current market rate. This is to ensure a fair and balanced marketplace for both merchants and customers.

Updated on: 07/10/2024