LocalBitcoins imposes commission for deposit of up to $ 1.6

LocalBitcoins is one of the most used platforms in the world for the exchange of bitcoins to practically any local currency. So far, one of its attractions has been the absence of deposit commissions, but that will change between June 19 and 21 of this year, because due to the current state of the network Bitcoin has decided to implement a new scheme of commissions.

According to the official announcement, with the new market of commissions being created in the trade of bitcoins, which can reach up to 100,000 satoshis to make a transaction effective, it is no longer sustainable to keep on the platform the absence of deposit rates, which Is in fact more expensive than a retirement. As of the indicated date, commissions of up to 0.00066 BTC (about $ 1.6) will be charged for each deposit, while, as compensation, withdrawal costs will be reduced to 0.00022 BTC (about $ 0.5). However, these are approximate figures that can be both reduced and increased, since it is noticed that the commissions will be directly linked to the saturation of the first blockchain.

However, LocalBitcoins has also announced that it will consider other options to reduce transaction costs for its users, including the use of other technologies. As a result of this decision, it can no doubt be said that it has become much more expensive to use Bitcoin around the world, and it will not improve until the blockchain escalates in some way. Exchange houses require variable fees, so, on many occasions, LocalBitcoins was the option without commissions for the sale of bitcoins.

Earlier this month, historical records were recorded regarding the volume of bitcoins traded on the platform in Latin America, and earlier this fact had been even more prominent in China and Venezuela. These two countries will be among the most affected by the increase in commissions at LocalBitcoins: by June 10, according to CoinDance, China had more than $ 5 million worth of transactions with bitcoins, which is not surprising considering the New commissions imposed by the bureaux de change due to regulations; And Venezuela, for its part, almost reaches the million dollars in bitcoins transacted through this page, which makes it the Latin American nation that uses it the most.