Backpack Exchange offers zero-fee fiat on/off ramp for eligible users. Wire transfer fees on Backpack are tier-based, meaning the more BP you stake, the lower your fees. Users who reach VIP tier may access zero flat-fee wire deposits and withdrawals.
This article explains how the wire fee structure works and what you need to do to qualify for zero-fee fiat on/off ramp on Backpack.
What Is the Wire Fee Structure?
Backpack uses a tier-based wire fee structure for fiat deposits and withdrawals. Each tier includes a set number of free wires per 30-day period. Additional wires beyond the free allowance incur a flat fee.
Your effective tier is determined by your BP stake, trading volume, or pre-TGE Mad Lad NFT holding, whichever is highest.
How to Qualify for Zero-Fee Wires
To access zero flat-fee wire deposits and withdrawals, you need to reach VIP 1 tier or above on Backpack Exchange. VIP 1 requires a minimum of 50,000 BP staked through the Backpack Participant Program.
Steps to qualify:
- Purchase BP on Backpack Exchange at backpack.exchange/trade/BP_USD
- Stake BP through the Backpack Participant Program at backpack.exchange/bp
- Maintain a minimum of 50,000 BP staked to hold VIP 1 status
Higher VIP tiers unlock additional benefits beyond zero wire fees, including reduced trading fees and equity access. For a full guide on staking BP, see How to Stake BP on Backpack Exchange.
Frequently Asked Questions
What is the minimum BP stake to get zero-fee wire transfers? VIP 1 requires 50,000 BP staked. At this tier, wire deposits and withdrawals have no flat fee.
Do wire fees apply to both deposits and withdrawals? Yes. The tier-based fee structure applies to both wire deposits and wire withdrawals. Each tier includes a set number of free wires per 30-day period.
Can I still use wire transfers without staking BP? Yes. All users receive 1 free wire deposit and 1 free wire withdrawal per 30-day period. Additional wires beyond the free allowance incur a flat fee.
How long does a wire transfer take? Wire transfers typically take 1–5 business days to process. Your sending or intermediary bank may apply its own processing times and charges, which are outside Backpack's control.
Learn more about Backpack
Exchange | Wallet | Twitter | Discord | Reddit
Disclaimer: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Backpack. Please read our full disclaimer for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Backpack is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice
.avif)
