Bitpay changes minimum deposit for Bitcoin from $1 to $100..
In an email they just stated:
Hi there,
The Bitcoin network has been seeing record transaction volume in the last few weeks. This growth has also led to record network congestion and record-high bitcoin miner fees.
Bitcoin miner fees – the cost you pay to send bitcoin transactions – are now more than $30 per payment on average. These fee levels and BitPay's rising network cost expense now make many small card loads impractical.
To protect card users from rising costs and to continue to offer service for bitcoin-to-dollar loads, we have raised the minimum amount for BitPay Card loads to $100.
If you need to load your card, we recommend loading larger amounts in advance of the purchases you will need to make. You can also continue to make cash loads or direct deposits to your BitPay Card for amounts smaller than $100.
When will I be able to make smaller card loads again?
For now, you will be unable to load any amount smaller than $100 USD. We are observing Bitcoin network conditions constantly. If Bitcoin network capacity increases or miner fee levels go down, we will evaluate lowering our card load minimum again.
Our team is working now on several platform improvements which will help to reduce your cost of loading the BitPay Card, including support for Segwit and support for BitPay loads via Bitcoin Cash.
So by now we know that Bitcoin is too expensive to use, but it would be great to be able to load Bitcoin Cash with the super low fees, and fast transactions!
Hopefully we have a STEEM card that comes out, (which I posted about a year ago here) and we could put all this non-sense behind us!!
Either way there are a lot of changes happening, and only time will tell whats going to happen..
Let me know what you think, and thanks for checking this out!
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Its really great informational post. Thanks for share
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That's not fair 100$ to minimum deposit??? Too much hard for the younger.
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Yeah not like last year when I could load $10 for gas and diapers..
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So we can only load $100 ?
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Yes a minimum of $100, but hopefully they will add Bitcoin Cash quickly.
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Oh how nice, them too?
I had similar warnings all across various wallets I am using.
They all started to 'shake' with it.
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Scary stuff.. Maybe this is time for STEEM to step in and show that it can handle fast cheap payments, and even digital kitties if we wanted to!!
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I thought we are already doing it?
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Its bitcoin related post. I like this too much
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