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An Important Update On Bitcoin Deposits

Over the holidays, we made a major update on Bitcoin (BTC) deposits. 

From Monday, January 8th , we will be introducing a minimum deposit for BTC 🙈. The minimum deposit will be 0.00125 on the Bitcoin network.

 

Whoa. What Does This Mean? 

This means that you will now have to deposit the minimum worth of BTC whenever you want to make a BTC deposit using Quidax 💰. 

Any amount less than these figures will not be processed, and your funds might get stuck in transit ⚠️. So, if you’re looking to deposit BTC, you want to be very careful to make sure it’s not less than the 0.00125 BTC minimum on the Bitcoin network 👀. 

Why Is This Happening? 

The minimum deposit is happening because of the rise in BTC gas fees 😔.

With gas fees still rising, we need to control volumes to ensure we give everyone the same levels of speed and efficiency with their BTC transactions.

Can I Send Multiple Transactions? 

I get that you might want to send multiple BTC deposits and accumulate them 😉. But, you won’t be able to do that for now. Instead, you could try accumulating your BTC in an external wallet. Once you’ve got up to the right amount , you can send it to your Quidax wallet! 👍

So What’s Next? 

Here are a few things you should note: 

  • BTC deposits on Quidax are still operational. But, you will need to deposit at least 0.00125 on the Bitcoin network if you want your transaction to go through 💰. 
  • Anything less than these sums, and your deposit might not be processed
  • You’ll get prompts on the web and mobile apps whenever you want to make a deposit, so it’ll be easier for you to manage this change

We understand that this might be a bit inconvenient, and we apologize for any inconvenience you might face 🙏. We’ll continue keeping an eye on the Bitcoin gas fees, and we’ll let you know when things get back to normal 👍. If you have any questions, please feel free to reach out to us at [email protected] 🫂. We’ll be more than happy to help you out.

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