Costs

Transaction Costs and Fees

Virtually all account costs are covered with the R20 Crypto bought when you opened the account.

WHAT IS LUMENS

Lumens is the network native cryptocurrency. You can buy Lumens for ZAC 10. You will require a minimum balance of 1 Lumen to keep your account open.

TRANSACTION COST​

A transaction will cost you 0.00001 Lumens and a we sell 1 Lumen for R10. Thus transaction will cost you 0.00001*ZAC 10 = ZAC 0.01 which is 0.01c. (Can you believe it) To receive money will cost you Zero.

WHATS THE MINIMUM OPENING BALANCE DEPOSIT REQUIRED?​

As stated above you need 1 Lumen for a minimum balance. But Lumens will be used for transaction costs, thus to open an account you would require at least 2 Lumens, which for convenience sake is ZAC 20 or R20.

WHAT IS 1 ZAC WORTH?

Zac is equal to 1 South African Rand, ZAC 1 = ZAR1. But in the future, we might change that, but it will then be beneficial.