Tag: BCH
Update on Bitcoin Cash (BCH) and Bitcoin SV (BSV) withdrawals
Please find below an update on Coinfloor’s support of Bitcoin Cash and Bitcoin SV.
Bitcoin Cash (BCH)
As you may be aware, on 12 June 2019, we delisted Bitcoin Cash from our exchange. We would like to inform you that from 1st of December 2019, you will no longer be able to access your BCH balances and place BCH withdrawals through your Coinfloor account online and will need to contact Coinfloor Support in order to withdraw your BCH. The BCH balances you hold with Coinfloor after this date will incur a monthly hold fee and any withdrawals that are placed after this time will incur an administration fee.
Bitcoin Cash (BCH) withdrawal fees and monthly hold fees after 1st Dec 2019
Withdrawal fee will be calculated as the greater of 1% or 0.1 BCH.
Monthly hold fee will be calculated as the greater of 0.5% or 0.1 BCH (excluding the month of withdrawal).
Bitcoin SV (BSV)
If you held BCH on Coinfloor on 15th November 2018 4:40:00 PM (UTC/GMT), then we will be holding an equal amount of BSV on your behalf. We are now allowing the withdrawal of any Bitcoin SV held with us. If you haven’t withdrawn your BSV by the 1st December 2019, you will start incurring a monthly hold fee and all BSV withdrawals will incur an administration fee.
To effect a withdrawal, please contact Coinfloor Support. If you have already contacted us through our support page to enquire about this previously, we will be contacting you shortly to arrange your withdrawal.
Bitcoin SV (BSV) withdrawal fees and monthly hold fees
Withdrawal fee will be calculated as the greater of 1% or 0.5 BSV.
Monthly hold fee will be calculated as the greater of 1% or 0.5 BSV (excluding the month of withdrawal).
As Coinfloor has never officially supported BSV transaction processing, BSV withdrawal fees are set to a higher amount to partially cover the increased one off costs incurred by manually processing them safely.
This does not affect Bitcoin (BTC), Ethereum (ETH) or any other assets.
Please do not hesitate to contact us if you have any questions.
The Coinfloor Team
June website design and functionality changes
Fiat Current Accounts
Last month, we launched the roll out of Fiat Current Accounts through FCA regulated partner, Enumis. These accounts allow corporate customers to access cutting edge fiat accounts with a number of features including Faster Payments, API Access, Direct Debits and Debit Cards.
Website design update
We recently made a number of updates to the website. Beyond various design and copy improvements made based on customer feedback, we also have begun an update to our trade engine order book pages. Changes include the first iteration of the new look exchange page. We have also removed the “Market Order” tab on the trade page due to the vast majority of our clients opting to use the safer “Limit Order” functionality.
Please keep an eye out for further improvements in our trading interface and website over the coming few months.
Removal of two order book asset pairs
We regularly review all of our digital asset pairings, looking at a number of factors including client demand and trade volumes. Following this analysis, we have decided to discontinue the XBT/USD and BCH/GBP order books.
These order books will be discontinued between 19:00 and 23:00 UTC on 15th
June during scheduled maintenance of the website and API.
We will continue to process withdrawals of Bitcoin Cash (BCH) as normal up until the end of July 2019. After this we will move to processing BCH withdrawals once a week until the end of September 2019. Any withdrawals that are placed after this time will be processed monthly and an administration fee will be levied.
N.B: Over the Counter (OTC) trades for BCH/GBP and XBT/USD will continue to be available.
We are very excited for you to see all the updates we will be rolling out over the next few months and welcome your feedback.
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