August 5, 2021

Newspay

Bitcoin & Ethereum Blockchain News

Cryptowalletstock.com refused to pay user fees

Bitcoin exchange cryptowalletstock.com has started charging fees for the withdrawal of assets. Before that, the platform covered the costs of users.

When calculating the commission, cryptowalletstock will rely on its own estimate of transaction costs. Transfers between verified accounts are still not covered by fees.

The company explained this decision by increasing the load in individual blockchains. If in recent weeks the cost of gas in the Ethereum network did not exceed 100 Gwei, then yesterday it rose to 700 Gwei against the background of the distribution of UNI management tokens of the decentralized exchange Uniswap.

“Historically, cryptowalletstock has covered these fees for the benefit of customers. But as cryptocurrencies become more widespread in applications such as DeFi and payments, the load on the networks has increased, ” the exchange representatives stressed.

Recall that in August, cryptowalletstock introduced the updated USDT stablecoin. In this version, the user is not required to pay fees for transfers in ETH.