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Thursday, May 18, 2017

Bitcoin Fee Furore Sees Mexican Exchange Bitso Charge For Withdrawals

Bitcoin Fee Furore Sees Mexican Exchange Bitso Charge For Withdrawals

Mexican exchange Bitso has imposed mandatory withdrawal fees for Bitcoin transactions at a fixed rate of 0.0005 BTC.

In an announcement through its blog on May 12, Bitso Operations and Customer Support Manager Paco Martinez said staff had taken the decision “due to huge changes and growth that Bitcoin has been experiencing in recent months, which has resulted in transaction fees increasing significantly worldwide.”

“This is a common practice in the industry and some other portfolios and exchanges charge this commission dynamically, usually higher than the fixed commission that will set Bitso,” he continued.

The rise in Bitcoin network transaction fees throughout 2017 has already seen multiple businesses adjust their fees or functionality to guard against financial uncertainty.

Full story at http://bit.ly/2quYfh7

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