Hit BTC now charges commission for bitcoin deposits

Hit BTC introduces deposit charges to combat high bitcoin network fees
26 December 2017   263

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.

Iranian Central Bank Doesn’t Recognize Bitcoin as Official Currency

The Central Bank of Iran announced that it has never recognized Bitcoin as an official currency and conducts no transactions in it or other cryptocurrencies  
22 February 2018   38

Last year, the Iranian government was interested in utilizing cryptocurrencies as a way of bypassing economic sanctions levied against the country. Today it completely changed its mind. The Central Bank of Iran announced that it will never recognize Crypto as official currency.

The bank informed citizens about risks of making investments because there is a chance to lose financial assets. Currently, the bank is cooperating with other institutions to develop mechanisms to control and prevent the use of cryptocurrencies in the country.

The wild fluctuations of the digital currencies along with competitive business activities underway via network marketing and pyramid scheme have made the market of these currencies highly unreliable and risky.

The Central Bank of Iran

However, there is some positive news. Today, Iran’s Information and Communications Technology (ICT) Minister Mohammad-Javad Azari Jahromi informed about the development of a local cryptocurrency by Post Bank. Unfortunately, the stage of research is not stated.