Q: If I still have doubts, what should I do?

“If you live in Italy, we advise you to consult your accountant, also taking with you this short guide to filling in the RW and RT forms. Click here to download the free e-book in Italian.

Q: How much are the fees for euro deposits?

Young Platform’s deposit through wire transfers from any country are free of charge. *link* You can find all the details on the dedicated page.

Question 1

If I still have doubts, what should I do?

Accepted Answer

&#8220;If you live in Italy, we advise you to consult your accountant, also taking with you this short guide to filling in the RW and RT forms. Click here to download the free e-book in Italian.

Question 2

Tax issues: Cryptocurrencies and Bitcoin

Accepted Answer

Download the free e-book in Italian about taxation in Italy &#8216;Aspetti fiscali: Criptovalute e Bitcoin&#8217; edited by Dr Giorgio D&#8217;Amico, available at this link.

Question 3

Is the Young Platform account considered a bank account?

Accepted Answer

No, your account is not considered a bank account, so you do not have to declare it as such for tax purposes.

Question 4

Consider these recommendations

Accepted Answer

The entire content of this page is based on interpretations which, even if carefully considered and authoritatively agreed upon, could in the future be contradicted by legislation.

Question 5

If I activate a discount on Young Platform is it also valid for Young Platform Pro?

Accepted Answer

No. Discounts on Young Platform are NOT valid on Young Platform Pro and vice versa.

Question 6

What are transaction fees and why do I have to pay them?

Accepted Answer

Fees are necessary for a transaction to be authorised and executed on the blockchain. They are a necessary contribution to the functioning of the technology. Fees vary by network, for example those on the Ethereum network tend to be more expensive than those on the Bitcoin network. Each exchange adds a small percentage for the service it provides to these network fees.

Question 7

What kind of fees are present?

Accepted Answer

There are three types of fees charged on an exchange such as Young Platfrom: deposit fees, withdrawal fees (which include blockchain transaction fees) and trading fees. The three types vary in amount depending on whether they are in euros or cryptocurrencies.

Question 8

How much are the fees for euro deposits?

Accepted Answer

Young Platform&#8217;s deposit through wire transfers from any country are free of charge. *link* You can find all the details on the dedicated page.

Question 9

How much are the fees for crypto deposits?

Accepted Answer

Depositing cryptocurrencies from an external wallet or another exchange to Young Platform is completely free of charge for any cryptocurrency.

Question 10

How much are the fees for buying and selling cryptocurrencies?

Accepted Answer

Fees for converting Euros into Cryptocurrency and vice versa are 2.5%. The fees for converting Euros to YNG tokens and vice versa are free of charge. The fees for converting one cryptocurrency to another cryptocurrency are 1.35%. You can lower these fees by 50% by purchasing the YNG token. You can find all the details on the dedicated page.

Question 11

Are there any fixed costs for keeping your money or cryptocurrencies on Young Platform?

Accepted Answer

No. Keeping your cryptocurrencies or euros on your account is free of charge.

Question 12

Is there a minimum withdrawal amount of cryptos?

Accepted Answer

Yes, a minimum amount is set for each withdrawal request. The minimum amount is specified in the fees column next to each cryptocurrency. You can consult the table at this link.

Question 13

Are there fees for sending crypto from one Young Platform wallet to another Young Platform wallet?

Accepted Answer

Yes, you pay the same withdrawal fees as indicated in the withdrawal summary table. See the page at this link.

Question 14

How much are the fees for crypto withdrawals?

Accepted Answer

Young Platform has significantly lowered its withdrawal fees as of July 2021 in accordance with current network conditions. See the specific withdrawal fees for each cryptocurrency on the dedicated page.

Question 15

Can I change the crypto withdrawal fees?

Accepted Answer

Yes, during periods of high network congestion, fees may vary. Young Platform always communicates any changes in advance, whether via newsletters, blogs or in-app notifications. We therefore recommend that you subscribe to the Young Platform newsletter to keep up to date. It is possible that emails may arrive in your spam folder.

Question 16

What are the fees for crypto withdrawals?

Accepted Answer

Transactions to wallet addresses outside of Young Platform (e.g. to move your cryptocurrencies to another exchange or an external wallet) take place on the blockchain. That&#8217;s why, the fees charged for these types of transactions vary depending on the network, and may be more or less expensive.

Question 17

Is there a minimum withdrawal amount of euros?

Accepted Answer

Yes, the minimum amount to withdraw euros from Young Platform is € 20.

Question 18

How much are the fees for euro withdrawals?

Accepted Answer

The fees for transferring money from Young Platform to your bank account are € 1.99. Simply enter the name of your bank and your IBAN. Remember: in order to withdraw your cryptocurrencies and transfer money to your bank account, you must first sell them to convert them into euros. Once you have converted your cryptocurrencies into euros, you can make a transfer to your bank account.

Question 19

Is there a way to get YNG for free?

Accepted Answer

Yes, by downloading the Step app and playing on it you can earn YNG tokens for free. Download the app with this link.

Question 20

How can fees be reduced on Young Platform?

Accepted Answer

Fees on Young Platform can be lowered by up to 50% by purchasing and holding the YNG token, Young Platform&#8217;s cryptocurrency. The YNG token has a fixed value of € 0.24. Please consult our YNG token page for discounts info.

Question 21

Where can I buy the YNG token to get the discount on fees?

Accepted Answer

Currently, the purchase of the YNG token is only available on Young Platform on the 2nd, 3rd and 4th week of each month, while the sale is open on the 1st week of each month.

FAQs Cryptocurrency Fees