Why the difference in send/receive fees on localbitcoins.com?

0

At least in https://localbitcoins.com/, the fees for sending and receiving Bitcoins (from/to outside localbitcoins, of course) differ by a factor of three, approximately. Currently: 0.08715 mBTC for sending, 0.26144 mBTC for receiving.

Is there some rationale for this?

leonbloy

Posted 2017-12-02T17:39:24.077

Reputation: 103

Answers

2

This is specific to LocalBitcoins.

From the website,

In order to divide the costs of handling Bitcoin transactions in a fair manner we are introducing deposit fees for incoming transactions. At the same we will lower Bitcoin sending fees for all customers.

Deposit fees will be larger than the new sending fees, generally we expect it to be about 3x the amount of sending fees.

Thanks!

https://localbitcoins.com/blog/new-bitcoin-network-fee-model/

Arun Philips

Posted 2017-12-02T17:39:24.077

Reputation: 36