Minimum transaction sizes


ZTbuyer
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Threads: 2, Posts: 35
#0

Have the minimum transaction sizes gone up ?

Today mine was saying Minimum trade: 0.00050000 BTC

That is 10x more bitcoin than yesterday.

That is 100x more bitcoin than June.

That is 300x more $ than June.

It is understandable that you are a business, and the tiny commission on a very tiny coin trade worth less than 10c might be a bit too small, so minimum trades had to climb eventually.  From my point of view, as a small household with a 0.4kW old cryptocurrency miner sized to the surplus from the solar panels, it is sometimes necessary to encash a month's aggregated mining or convert it to a more ubiquitous currency such as ETH or BTC.  That is a legitimate need for microtrades, and availability of at least one exchange who will do that is in my opinion necessary for the existance of noncommercial home miners, whose presence makes the many cryptocurrencies decentralised and peer to peer, rather than centralised and bank-like in their tendancy to aggregate and become corrupt self-serving institutions.

If this exchange supports decentralised and peer to peer, then please say what do you think of

I) cryptopia to announce 1 month in advance of any future changes to minimum trade size

II) a sticky in a help forum or a details page tabulating present minimum trade sizes and commission

III) introduce a new category of microtrade, by which a "minimum commission" is taken if the trade is between a proposed "minimum commission size" and present "minimum trade size", with a text indication near to the buy or sell buttons instead of greying out the button.  I might mine for three months not one at a time, in order to pay minimum commission only once.  Cryptopia would get slightly more commission than if they left it prohibiting small trades as today.  Hobby miners would have a destination for altcoins.  What does everyone else think ?



Posted: 12/5/2017 8:58:47 AM Edited: 12/5/2017 9:02:18 AM
flyers512
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#1

totally agree with you and moreover bitcoin price has been multiplied by x5 since june 2017


Posted: 12/5/2017 10:09:31 AM
muncuss
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#2

Agree too

Too big (for small tx). Hope they reduce it to 0.0001



Posted: 12/5/2017 10:25:53 AM
proXy155
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#3

This is just stupid you not near enough volume to do these things ill just change platforms like this



Posted: 12/5/2017 3:15:22 PM
v17
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#4

Minimum trade 10.00000000 DOGE

Minimum trade 0.0100000 LTC

Also up 10x overnight  without announcement in good time to disdiversify.



Posted: 12/5/2017 4:05:47 PM
bleach201189
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#5

This platform is not serious i am stucked with my coins cant trade btc here cause minimum is 0.0005... 



Posted: 1/5/2018 8:40:56 PM
Wayne3110
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#6

whats bothering me is im seeing Sell orders go through for less than the minimum? how is that possible? Or am i misunderstanding the Sell orders part? 



Posted: 1/8/2018 9:13:57 PM
jeremy87
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#7

Why don't you introduce trading at the market level prices without any limit? I cannot buy any WILD coins and I am eager to do so. Any changes in that part of the market?



Posted: 1/15/2018 3:44:34 PM
GuyMarkTibbert
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#8

Glad I stumbled on this before I started to "play".

At the moment I use Etoro and coinbase for most things BUT neither of them are any use for ICO -so I thought I would use Cryptopia. Still tempted BUT I admit to be very worried about them "changing the rules" overnight without giving anyone warning. Minimum transaction 10 Dodge? Sure, who cares - all of about 50p / 70c at the moment - but when if they decide next week it is 100 dodge - or 1000. Or increase the bitcoin amount by yet another factor of 10.

Fiddly enough as it is not beng able to use FIAT (other than folks in NZ) but ZERO notice on rule changes regarding exchanges troubles me - PARTLY because if they keep on "multiplying by ten" eventually it makes the exchange useless for small players (the majority of their business?) but also significantly if they are happy to steamroller changes like THAT through - can we trust them not to increase withdrawal fees by a factor of ten - after all, what option would we have other than to pay them  - sooner or later.

A shame, I really thought I had found a good exchange that dealt with ICO and was (other than lack of FIAT), going to be really straightforward to work with. Seems I might have been mistaken.

Ah well, nobody said life should be easy :)

 

 



Posted: 2/15/2018 7:18:29 PM