Vendors: Commission Payments

2021-08-15| CG Wardrobe

All product prices on CG Wardrobe are based in USD (United States Dollar). Therefore, commission payments to vendors will be based in the USD exchange rate at the time of payout, not during the sale. Payouts occur during the first seven (7) days of every month.

Depending on the current exchange rate at the time of payout, you may receive more or less of your chosen currency than anticipated. However, the USD value will always remain the same.

*YOU ARE RESPONSIBLE FOR PROVIDING YOUR ACCURATE PAYPAL INFORMATION and/or BITCOIN CASH ADDRESS TO RECEIVE PAYMENT.. Funds sent to a wrong account/address will not be reimbursed!

Example Scenario: (data from Bitcoin.com)

2021-5-14: 1 BCH/USD = $1,247

Bob wants to buy a product from Alice. The product is 5 USD. Alice chose to receive commission payments via Bitcoin Cash on her vendor profile. Bob pays the 5 USD and receives the download.

2021-6-1: BCH/USD = $688

Alice receives approximately 0.00545 BCH | (5 USD * 75% = 3.75 USD –> 3.75/688 = 0.00545 BCH)

In the above scenario, Alice actually received more BCH (0.00545) than she would have if she was paid at the time of sale (0.003). Conversely, if BCH had moved up, she would have received less BCH.

Categories: Vendors

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