Last week the bitcoin company Xapo ended with one of its best strategies: the free transaction costs. The firm has announced they will no longer pay mining fees for customer transactions and will forward the cost to users. They have sent the next email to all Xapo Users:
Hi, We have an important announcement about your Xapoaccount that will affect you - so please read! In the next couple of days, all Xapo users will begin to pay the miners fee themselves in order to send transactions out of Xapo. No portion of this fee goes to Xapo, it is simply the fee that needs to be paid to miners in order for an outgoing transaction to be processed via the bitcoin network! This fee will be dynamically calculated based on the current network conditions and will be paid by you at the time of the transaction. Due to the increase in transaction volume of the bitcoin network, we'd like to give our users some control over their transactions. That being said, Xapo will give you the ability to select which type of fee you'd like to pay - a standard or high priority fee - thus allowing you to choose how quickly you'd like for your transaction to be processed! Thanks for your understanding, P.S. this is a no-reply email, but if need be, you can contact us! |
This measure arrives after 2 stressful weeks of backlog with 150,000 to 200,000 unconfirmed transactions filled the network transaction queue (mempool).
Nowadays, these transaction fees are very high, so Xapo can't take charge of them. Moreover, there are many users abusing the free system in order to generate spamming transactions. This can not be accepted, therefore Xapo is following the same way as other bitcoin startups such as Coinbase and Bitpay who have also ceased paying user’s transaction fees.
“In the next couple of days all Xapo users will begin to pay the miners fees themselves in order to send transactions out of Xapo. Due to the increase in transaction volume of the bitcoin network, we’d like to give our users some control over their transactions. That being said, Xapo will give you the ability to select which type of fee you’d like to pay" explains the Palo Alto, California-based startup.
If you also want to have a BitCoin wallet, in Habwin we offer you the opportunity to get your card half the price. Instead of costing you $20 you can have it for only $10. Just enter the code 'JMCP7809' when you create your Bitcoin debit card in Xapo.
🎥 The top 10 poker movies
📖 11 books every poker player should read
💻 The best software to play online poker
📱 The best free apps to play online poker
The spin and go are a series of tournaments that were born under the umbrella of the Sit & Go hyper-turbo. It is a modality in which each player buys an entry and, before the tournament starts, the...
More and more poker fans are deciding to get started in Omaha poker, and that is why we are going to review the key aspects of the starting hands in this modality. We are going to focus on Omaha Hi...
In the poker world we find great personalities and stars of this popular card game that are internationally recognized. Much has been said about Daniel Negreanu and his mythical plays, as well as P...