What is an example of a prorated fee?

Prorated charges are a common practice in the billing of services, where customers are charged only for the portion of the service they have used. This approach ensures fairness and avoids overcharging customers who may have joined the service late in the billing cycle.

In the given scenario, a customer signs up for a service on the 10th day of a 30-day billing cycle. Without prorating, the customer would typically be charged for the entire month, regardless of when they started using the service.

However, with prorated charges, the customer's payment is adjusted to reflect the number of days they have used the service. In this case, the customer would only be responsible for paying for the remaining 20 days of the billing cycle.

This method is beneficial for both the customer and the service provider. Customers appreciate the fairness and avoid paying for services they haven't yet used, while providers can attract more customers by offering a more flexible billing option.

Prorated charges are particularly relevant in the context of cryptocurrency exchanges like BTCC, which offer a range of services including spot trading, futures, and wallets.