This is the new minimum rate for BTC Buyers!
Last week, we told you
that the minimum rate for those who want to buy or sell Bitcoin (BTC) using our
services, was 20 USD BTC.
Sadly, we have quickly reviewed the minimum rate.
Now, the minimum BTC amount you can buy from us is 50 USD BTC, and the minimum you can sell to us is 20 USD BTC.
The reason is that the cost of BTC transfer has gone through the roof…. Imagine paying 15 USD to send only 40 USD BTC or paying 35 USD to send BTC.
Sometimes, we pay as high as 150 USD or 300 USD or even more to send Bitcoin (BTC).
And in case you were not aware, we bear the costs of transactions for you. Therefore if you buy 50 USD BTC from us, and it costs us 24 USD to send it to you, we must pay the price, as it is compulsory for you to get the 50 USD BTC you pay for.
Sometimes, you will need to wait for a few hours, or several hours, or in rare circumstances, days or even weeks, for the BTC you buy to be delivered to you.
If you refuse to pay the regular or priority transaction fees for BTC, you risk your transaction not getting confirmed.
So, when you combine high transaction fees with very long delivery delays, you can understand the reason other altcoins were created (ETH, ADA, SOL, MATIC, BNB, XRP, etc.). The altcoins named in the foregoing brackets are better than Bitcoin, but Bitcoin is far more popular and more valuable because it is the first crypto coin and the first demonstration of blockchain technology.
Also, the value of your BTC can increase or decrease while you await the transaction to be confirmed.
You can now understand why we set the minimum BTC transaction to 50 USD BTC, as we need to cover the costs of doing business.
NB: Next week, we will tell you how to avoid the high fees of Bitcoin transactions.
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