Bye Bye Localbitcoins wallet! - page 2.

arpon11

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Quote from: maikohoney on June 19, 2017, 11:10:03 AM

New fee structure started today. Here's the news article about it:
https://news.bitcoin.com/localbitcoins-new-fee-structure/

I received (what was supposed to be) a $20 transaction to my localbitcoins wallet, and was charged a little more than $1.40 "deposit fee". The sender paid over $2.00 fee to send. This seems pretty excessive considering the small amount being sent.

Aaaand... I'm switching wallets Tongue

Most of the wallet providers online are doing the same thing Coinbase xapo and even the almighty Blockchain.info are doing the same charges and I do believe is all connected to mining fee and their own charges.

Taki

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Quote from: LeGaulois on June 19, 2017, 11:31:45 AM

Look like now all users who were doing small transactions will simply stop to do it and maybe stop to using them due to this change.
Deposit fees seems ridiculous, or I missed something in the story. I never used Localbitcoin and I doubt I am planning to use in a near future

Me too. In current moment I use Blockchain wallet and even if the fee value for the slow transactions is like 0.7$ there I plan to move all my earnings directly on the exchanger that I use. Anyway I don't hold coins too long, I just need that money, cause of I am unemployed. I am sure that strategy will help me to stay away from almost all kind of transaction fees.

232drialf

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Just had my first transaction too. I can't believe it. I got an email a few weeks ago I think regarding this but I thought it won't suck so hard.

They are having an idiot system for sure. If you sent to an internal address, only after you entered all the details the system finds out that is an internal address. So they still ask for fee for that transaction at first.

But this, why should I use localbitcoins anymore? Going to paxful from today!

Slow death

legendary

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Quote from: maikohoney on June 19, 2017, 11:10:03 AM

New fee structure started today. Here's the news article about it:
https://news.bitcoin.com/localbitcoins-new-fee-structure/

I received (what was supposed to be) a $20 transaction to my localbitcoins wallet, and was charged a little more than $1.40 "deposit fee". The sender paid over $2.00 fee to send. This seems pretty excessive considering the small amount being sent.

Aaaand... I'm switching wallets Tongue

Humm I have a good time that I do not enter the localbitcoin, but I planned to go back to it, but I was shocked when I see that in the last days someone is trying to get into my localbitcoin account

And now I see this news, I think I'll give up going back to localbitcoin

abhinav_thakur01

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I also got an email about this. In Europian and countries having higher currency value, it may work out . But in countries where the value of a dollar is multiple times that of a dollar, it might not work out well. You have said you are switching wallet while localbitcoins is a trading website. So I recommend you to use it for trade purposes only or use blockchain wallet.

Iranus

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Xapo is doing a similar thing. Of course this is not a "wallet" in the conventional sense, more like an account, so this is just a way of them making the fees simpler for you instead of making it confusing when you're faced with unusually high sending fees from accepting loads of small transactions. You'll probably find that LocalBitcoins is not making profit (or at least not a lot) from setting those fees.

When you're using a proper wallet instead of an online wallet, just make sure not to accept loads of dust transactions anyway. LocalBitcoins is trying to remove your incentive to do this.

LeGaulois

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Look like now all users who were doing small transactions will simply stop to do it and maybe stop to using them due to this change.
Deposit fees seems ridiculous, or I missed something in the story. I never used Localbitcoin and I doubt I am planning to use in a near future

maikohoney

newbie

Activity: 18

Merit: 0

New fee structure started today. Here's the news article about it:
https://news.bitcoin.com/localbitcoins-new-fee-structure/

I received (what was supposed to be) a $20 transaction to my localbitcoins wallet, and was charged a little more than $1.40 "deposit fee". The sender paid over $2.00 fee to send. This seems pretty excessive considering the small amount being sent.

Aaaand... I'm switching wallets Tongue

Topic: Bye Bye Localbitcoins wallet! - page 2. (Read 750 times)