After months of tireless work, Team Spank is thrilled to share our latest and greatest improvements to our SpankPay platform. There’s a lot to share, and fortunately, we’re created a document that unveils all of the steamy details.
If you’re short on time, all you need to know is that the second iteration of the platform is sexier on the eyes and a lot easier to use. We also cut down on blockchain fees, removed some minimum fees, and made it 100% free to transfer between SpankPay accounts (swaps fees still apply). Now, users only pay upon withdrawal. Deposit fees are dead, but don’t worry, we’ve got you covered plus a bit extra. We’re depositing an additional 1% of funds based on your current SpankPay balances to cover any previously paid fees.
Reduced blockchain and internal transfer fees
General improvements under the hood for a smoother user experience
Improved security flow; existing users will need to re-enable their 2FA
Retired support for LTC (unfortunately not supported by Wyre); while we’re sad to see this go, the guiding intention is to offer a wider range of token support in the future
API changes to SpankPay SDK that require attention: (none)
UK withdrawals have been re-enabled
We’re excited to announce that our fees are more affordable and streamlined than ever. In V2, you can look forward to all of the following:
Transfers between SpankPay accounts are now free! (swap fees still apply)
No minimum fees for crypto transactions
Buyers no longer pay blockchain fees on debit transactions
1% swap fee when changing between currencies (includes USD to USDC)
Processing fees are only charged upon withdrawal (swap fees still apply)