Quote from: allcrypt on March 31, 2014, 01:00:34 AM

Quote from: kache on March 31, 2014, 12:53:08 AM

Quote from: allcrypt on March 29, 2014, 05:27:55 PM

Quote from: ebliever on March 29, 2014, 05:20:56 PM

I have an account and appreciate your service. But one question: Why is the fee to withdraw Bitcoin set at 0.01 BTC? That's $5 at the moment, which is way too high.

It's not - it's .001 - 50 cents. Tho I admit you did make me mumble "dammit!" and log in and check and see if I typoed it Wink

That's still a huge lot...

A good deal of the withdrawals we process have a .0005 network fee by default, and we add a .00015 TX fee on top to ensure the funds move. We had a ton of .0001 withdrawals sit for an hour or more with 0 confirmations because the miners wouldnt pick up the minimum fee transactions.

We've also had some withdrawals be complicated enough that the fee was even higher.

So assuming the withdrawals with the .0005 fee, and we add the .00015 for a total of .00065, we're keeping .00035 of that to cover costs. Right now thats 16 cents.

If a 16 cent fee to cover our costs is too rich for your blood... I really have no defense to that. I'll just have to apologize and hope you believe us when we say no one is retiring to a tropical island on a 16 cents per withdrawal 'profit'.

Then how does Bittrex have zero issues with confirmations (most it took for first confirmation was half an hour) with only 0.0001 fee?
Regardless of cents or whatnot, I do 0.002-0.003BTC withdrawals for renting on betarigs.com, so a 0.001 fee would be a BIG chunk of that.