How to calculate prorated fee?

Prorated charges are commonly used in various scenarios, including billing for utilities, rental agreements, and subscriptions. They ensure that customers are charged fairly based on their actual usage, rather than being forced to pay a flat monthly fee regardless of their consumption.

For cryptocurrency exchanges like BTCC, prorated charges may apply to certain services or features that are billed on a monthly basis. BTCC is a leading platform in the cryptocurrency space, offering a range of services including spot trading, futures trading, and cryptocurrency wallets.

Calculating prorated charges is a straightforward process that involves a few simple steps. To begin, it's essential to determine the monthly rate that is applicable to the service or product in question. This rate serves as the basis for all subsequent calculations.

One of the key services offered by BTCC is spot trading, which allows users to buy and sell cryptocurrencies at the current market price. This service is typically billed on a monthly basis, and prorated charges may apply if a user cancels their subscription mid-month.

Once the monthly rate has been established, the next step is to divide it by 30. This division yields the amount that is charged per day for the service or product. It's important to note that this calculation assumes a 30-day month for simplicity, though in reality, months can vary in length.