Announcing our new payout protection feature
Due to unusually high fees in the last few days, we have decided to only pay out bitcoin purchases if the network fees are less than 20% of the total amount.
What is the reason for this feature?
As you know, network fees will be deducted from your purchased bitcoin amount when we pay out. This fee is usually very small, roughly 10-25 cents, as we batch the withdrawals. Read more about this in our FAQs.
Since the fees in the Bitcoin network have risen sharply in the last few days, and a large part of your purchases currently could go towards these fees, we have decided to set a threshold and only pay out if the fees are less than a fifth or less than 20% of your stack.
What can you do to receive your bitcoin, if you are affected?
There are several ways in which payouts can still be made.
- Wait: You can wait until the fees go down. As soon as the fees won’t eat up a fifth of your bitcoin we will reinitiate the payout.
- Stack more: We will add up your small bitcoin purchases. So you have the option to stack more and as soon as a fifth of your total amount (collected by us) is no longer eaten up by the fees, we will trigger the payout to your wallet again.
Sit back and relax
We've made these changes to protect your purchase. This feature is now active. So you don't have to take action, but can continue to stack sats without worrying about the fees.
If you have any questions or concerns, please don't hesitate to contact us.