Over the past few months, customers have been asking for faster withdrawals, while the bitcoin price and network usage has been steadily rising along with the bitcoin network fees. As we don’t charge for withdrawals, this has left us with a dilemma, as the cost of free withdrawals has become unsustainable.
At Solidi, we pride ourselves in delivering a great user experience as well as developing tools that make our fees competitive while ensuring fairness in our transaction fee system.
Free withdrawals will remain
Withdrawals will remain free and you’ll still continue to benefit from our cold storage wallet (so nice and easy and super secure)!
We’re now going to batch withdrawals together and send them at the latest every 8 hours after submitted.
Faster paid-for withdrawals
Customers will be able to expedite their withdrawals by paying the following fees:
฿0.0005 – sent in 2 hours
฿0.0010 – sent in 10 mins
Although the fees are currently fixed, the intention is to update the fees on a monthly basis to ensure that they remain fair as the price of using the bitcoin network changes. Eventually we intend to calculate the fees automatically so that you only pay the cost at the time you withdraw.
Deposits currently free
Due to the way the bitcoin network currently operates, deposits do have an associated cost. At this time, we’re not charging customers for deposits at this stage, but will do shortly to lower the costs of withdrawals – we’ll let you know when this happens.
At Solidi, we’ll continue to invest resources towards developing various technologies, transaction batching and other tools to make using bitcoin cheaper for our customers.
If you have any questions, please email us at [email protected]
The Solidi Team
[…] still allowed free withdrawals from their wallet. However, you did have to wait at least 8 hours (so they could batch all withdrawals together). You could have continued to withdraw immediately, but you would have paid a high network […]