Hit BTC now charges commission for bitcoin deposits

Hit BTC introduces deposit charges to combat high bitcoin network fees
26 December 2017   559

Hit BTC exchange announced that now users have to pay a fixed fee for bitcoin deposits to platform. This new fee will be deducted from the total incoming amount and will be 0.0003 BTC. So, if your deposit is equal or lower, than there is no point to try, because company warns, that all the amount will be accounted as a commission and there will be no refunds in such cases.

Such unfortunate circumstances arose from the all-time high network fees, so concerns about other exchanges implementing something along those lines are more than justified. For example, Bitpay already tried closing transactions of $100 or less, judging them to be uneconomical and impractical. Of course, the community pressured them to restore functionality, but who knows, for how long it would hold?

All this drama takes root in one problem – increased popularity of Bitcoin caused increased demand for processing. And the mempool continues to be boggled down with over hundred thousand unconfirmed transactions at any given time. So, no wonder that transaction fees had hit a new high recently with $37 payment to have transaction mined in three blocks on 12/21/17, and today, on 12/26/17 it just slightly dropped down to $28 to rush the queue.

German Exchange to launch Bitcoin Products

Deutsche Boerse, the Frankfurt Stock Exchange holder, is deciding about the providing cryptocurrency products
24 May 2018   75

Reporting in London on Wednesday, at a significant event of the sphere, Jeffrey Tessler (the firm's chief of customers, products and core markets), declared: "We are deep at work with it." Nevertheless, any move into the crypto space from the stock exchange might not be forthcoming fast. When CME Group and Cboe Global Markets both started bitcoin futures trading last December, Tessler further claimed during the event that Deutsche Boerse is "not at the same stage." According to his point of view, the company is attempting to understand the volatility of the bitcoin market first and insuring clients and regulators are "in line" before stepping ahead with any offerings.

Whilst a move into offering bitcoin products is not definite, the exchange has already been active in the blockchain field. Deutsche Boerse unvealed details to CoinDesk about its plan to move the majority of its post-trade services to a blockchain last June. It affirmed at the time that it was interested in building a system, using Hyperledger's open-source Fabric protocol, in order to transfer securities and move commercial bank money, while still undertaking cross-jurisdictional compliance with regulators.

Also, as recently as March, the group declared it wish to deploy a platform for more operative securities lending using R3's Corda blockchain tech.