Last week the cryptocurrency exchange Kraken decided to increase the bitcoin withdrawal fees from 0.0005 to 0.0025 BTC, in order satisfy the miners and insure faster transactions. But on the next day (June 9), they realized how angry the customers were, and reduced it to 0.001 BTC. Litecoin withdrawal was also increased to 0.001 LTC. Tether (USDT) withdrawal fee now at 5 USDT. Customers were notified by email (I'm one of them).
Following in that same direction, Amsterdam-based bitcoin trading platform BL3P will be increasing their fees too. The new fees are 0.001 BTC for a default, fast withdrawal (previously 0.0005 BTC) and 0.0005 BTC for a low priority withdrawal (previously 0.0001 BTC). The change will be effective on June 23 (1).
The average transaction fees increased 10 times so far since the start of 2017 (2).
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Yup and will probably keep going up. It sucks
crypto is still wild west
And it will always be a wild west, because it's decentralized and unregulated. It's a double-edged sword.
yeah, basically everybody robs everybody but in the end we all win..
I'm not so sure. Thing is, ever since bitcoin started gaining exposure and publicity, the Wallstreet sharks and whales have got into the game. Those are the real robbers who can manipulate the prices of anything as they please, they can create panic as well as FOMO. I worry that in the end, they will win, not us. I hope I'm wrong.
most people there actually got kind of late into the game. a lot of these guys still really don't know anything about crypto. just keep an eye on the market and don't get chained to a dead camel and you should be able to outsmart at least some people just by following the market.