On the front end f shapeshift, it says there is a minimum amount for each currency. This minimum amount is not listed in the API anywhere. How is this minimum value calculated. Is it pegged to a USD value? I noticed the bitcoin minimum is 4218 satoshis, which is about 1 penny. Are all currencies set to a one penny minimum?
Also, I'm unfortunately going to have to remove shapeshift.io integration from my project because of the new minimum amount requirement. The way my app works, is it sends lots and lots of small amounts from many senders, but to a relatively small number of recipients. Most shifts from me will be $0.05 and less. Most probably under $0.01
Maybe if shapeshift.io worked such that it keeps shifts under the minimum internally until the total amount exceeds the minimum, then makes the deposit.
Hello Coinsentry,
The minimum is based on the miner fee of the outgoing currency. Basically, if there is a miner fee of 0.0001 BTC on the output, it doesn't make sense to accept any transaction that would only send 0.0001 BTC. Our rule is we set the min at 2x the fee of the output currency. Accepting an order below that would mean more than half the user's output value would be eaten by the miner fee alone, and it just doesn't seem reasonable to do such transactions.
We can consider your suggestion to accept small amounts until they exceed the maximum, but honestly the total volume of such transactions means it's not really economically rational to spend time on such a thing. If you knew you'd be pushing a certain volume through the API using that feature, then please email us and we can discuss it further. mail at shapeshift.io
And thanks very much for your feedback!
