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Packages, Limits, Cash-back & Fees
Good to know: If you're interested in staking OKSE tokens to access higher daily debit card payment limits and spend-to-earn rewards, it's worth noting that there are five different packages available based on your deposit amount.
To upgrade to a higher package, you'll need to stake the required amount of OKSE tokens for that package and wait 24 hours before the upgrade takes effect. On the other hand, if you want to downgrade to a lower package, this will be applied immediately after your deposited OKSE amount falls below the minimum required for your current package.
By choosing the package that best meets your needs, you can enjoy higher spending limits and rewards while still enjoying the security and convenience of a decentralized debit card. So whether you're a crypto enthusiast or just looking for a new way to manage your spending, be sure to explore the OKSE ecosystem and see what it has to offer!
To use the Okse Card, you'll need to pay a monthly fee of $6.99, which can be reduced by 10% if you use Okse to make the payment. Additionally, there up to a 3.3% fee when using foreign currencies.
But there's good news - you can also stake Okse in the debit card contract to increase your daily debit card payment limits and earn cash-back rewards while using or topping up the card. So not only can you use your crypto instantly with Okse, but you can also earn rewards for doing so!
Indeed, the numbers related to daily spending limits, fees, staking requirements, cashback, and other aspects of the Okse ecosystem may be subject to change based on market conditions and the overall situation of the company. This flexibility allows the platform to adapt to evolving circumstances and ensure that its offerings remain competitive and sustainable over time. It's important for users to stay informed about any updates or changes to the platform's features and terms. Following Okse's official channels, such as social media, website, and community forums, will help users stay up-to-date with the latest developments and make informed decisions about their participation in the ecosystem.
The cash-back feature on the Okse platform is designed to reward users for their participation and usage of the platform's services. This cash-back functionality will be enabled on specific blockchains once there is sufficient liquidity to support the feature.
Having enough liquidity is essential to ensure that the cash-back rewards can be distributed fairly and smoothly among users without causing any disruptions or negative impacts on the overall ecosystem. As the platform grows and attracts more users, liquidity will naturally increase, making it possible to enable the cash-back feature on a wider range of blockchains.
This approach allows the Okse platform to manage its resources effectively while offering additional incentives for users to engage with the platform and its various services. By considering the liquidity requirements, the platform can deliver a rewarding experience for users without compromising the stability and security of the ecosystem.
Monthly Subscription Fee
The Monthly Subscription Fee for the Okse Card covers the costs associated with maintaining the physical debit card, virtual card, and account services. The fee structure is as follows:
- 1.Fee amount: Cardholders are required to pay a monthly fee of $6.99. If users choose to pay the fee using Okse tokens, they can receive a 10% discount on the cost.
- 2.Accepted payment methods: The monthly fee can be paid using any cryptocurrency available as a payment option in the debit card contract.
- 3.Initial payment: The first payment is due when the cardholder creates their virtual card and activates their account.
- 4.Recurring payments: After the initial payment, the fee will be automatically deducted every 30 days.
- 5.Failed payments: If a payment fails to process, the virtual card will be deactivated, and the cardholder will lose access to the debit card functionality. However, they can still deposit and withdraw funds from the debit card smart contract.
- 6.Reactivation: Cardholders have the option to reactivate their card within two months of deactivation. After two months, they must create a new card.
By implementing a monthly subscription fee, the Okse platform can cover the costs associated with providing the debit card service while maintaining a sustainable and user-friendly experience for its customers.
Blockchain Fee is a transaction cost that cardholders must pay when they deposit, withdraw, or make payments using their Okse debit card. These fees are necessary to process transactions on the blockchain network and compensate miners or validators for their work in maintaining the network.
- 1.Cost reduction: Cardholders can reduce transaction costs by selecting a cheaper blockchain network. However, it's important to note that the speed and security standards may vary depending on the chosen blockchain ecosystem.
- 2.Balancing safety, speed, and cost: Ensuring a balance between safety, transaction speed, and cost is crucial for providing an optimal experience for all community members. Users should be aware of the trade-offs when choosing a particular blockchain network for their transactions.
By implementing blockchain fees, the Okse platform can help maintain the decentralized infrastructure while encouraging users to make informed decisions about the most suitable blockchain network for their transactions. This approach aims to strike a balance between cost efficiency, speed, and security, leading to a better overall experience for the cardholders.
The cross-border fee is an additional transaction cost that depends on the cardholder's location and the country where the payment is being made. This fee is charged on top of the regular transaction fees to account for currency conversion and other costs associated with international transactions.
With the addition of a new card provider in March 2023, the maximum fees for Okse cardholders have been set as follows:
- 1.Deposit fee: A maximum fee of 2.3% is charged when depositing funds into the Okse debit card.
- 2.Consumption fee: A maximum fee of 1% is applied when using the Okse debit card for purchases or payments.
These fees help cover the costs associated with processing international transactions, including currency conversion and potential fluctuations in exchange rates. By setting a maximum fee limit, the Okse platform aims to offer a transparent and competitive pricing structure for its cardholders, making cross-border transactions more accessible and affordable.