Thanks for that Fincen link.
For the first transaction, it was $10 for which they charged 36.28%. Check this https://imgur.com/a/a8jeWZi
The second comic was for $18 for which they charged over 58%.
Called it Miner fees.
For $28 worth of products, I ended up paying $43.
@boyptc Do you know of a Network (other than Paxful) where I can maintain Privacy and also be able to sell my digital goods for BTC? It's mostly Gift Cards collected from Review Sites. I am also looking for a private and secure marketplace to sell my Rare Comic collection.
Thanks.
Topic: Why are Bitcoin Transfer Fees so high? Is Privacy a joke? - page 2. (Read 218 times)
That's really an unusual fee calculated by bitpay. They have cut for that I guess that's why it has been like that. How much was the total for those percentage in dollars?
Before sending always check how much is the recommended fee through this website --> https://jochen-hoenicke.de/queue/#0,24h
And for paxful, they really are asking for that. I don't know how long they've started it but you can't enjoy their features if you won't follow the kyc.
About the strict compliance of KYC, FINCEN was said to require it for self-hosted wallets in the US.
--> https://www.coindesk.com/fincen-proposes-kyc-rules-for-crypto-wallets
--> https://bitcoinmagazine.com/articles/fincen-proposes-kyc-for-withdrawing-cryptocurrency-to-private-wallets
Before sending always check how much is the recommended fee through this website --> https://jochen-hoenicke.de/queue/#0,24h
And for paxful, they really are asking for that. I don't know how long they've started it but you can't enjoy their features if you won't follow the kyc.
About the strict compliance of KYC, FINCEN was said to require it for self-hosted wallets in the US.
--> https://www.coindesk.com/fincen-proposes-kyc-rules-for-crypto-wallets
--> https://bitcoinmagazine.com/articles/fincen-proposes-kyc-for-withdrawing-cryptocurrency-to-private-wallets
I remember when Bitcoin was gaining movement, one of the reasons given for an alternative like Bitcoin was Privacy and to avoid high fees and monopoly by Banks/Credit Card companies.
Yesterday I had an unusual experience.
My Wallet is with Bitpay and they charged me 38% and 56% fees on two different occasions for buying some rare comics in exchange for Bitcoins. They called it Miners fees. I was stunned as I had never paid a fees that high, ever!
Recently Paxful announced that it is making IDs compulsorily for everyone, which throws Privacy into the drain. Many Wallets now require you to send them verification to be able to deposit and withdraw. Although I did the verification, I am not very happy about the entire process, especially where the entire Crypto ship is heading towards. I know people misuse the n/w and stuff, but why do we need an alternative payment when we are going back to the same reasons which led to Crypto birth.
How do you maintain Privacy amidst all these rules and regulations?
What is happening?
Yesterday I had an unusual experience.
My Wallet is with Bitpay and they charged me 38% and 56% fees on two different occasions for buying some rare comics in exchange for Bitcoins. They called it Miners fees. I was stunned as I had never paid a fees that high, ever!
Recently Paxful announced that it is making IDs compulsorily for everyone, which throws Privacy into the drain. Many Wallets now require you to send them verification to be able to deposit and withdraw. Although I did the verification, I am not very happy about the entire process, especially where the entire Crypto ship is heading towards. I know people misuse the n/w and stuff, but why do we need an alternative payment when we are going back to the same reasons which led to Crypto birth.
How do you maintain Privacy amidst all these rules and regulations?
What is happening?
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