From time to time, some fees need to be changed, due to external factor.
We try to keep fees as low as possible, in order to boost usage of our services, but it’s not always easy.
For several months, for instance, we have asked a withdrawal fee for bitcoin which was lower than what we pay to the network. We took the hit, but it could not have lasted much longer: “luckily” mempool congestion has improved since then.
Today we need to accounce an increase of fee, for EURO bank transfers: since 16th April we will charge an additional 0.1% withdrawals above 100,000 EURO (100k, one hundred thousand) bank transfers.
This might sound a little bit controversy, since we should charge less those who move bigger amount of funds, but this is not what our bank partners think, so we cannot take the hit any longer and we have to pass this cost to our customers as well.
Luckily, we can also lower some fees: as said before, bitcoin transaction costs are now much lower than before, so we will cut them (on 16th April) to 1/5th of current fee.
- regular bitcoin withdrawals, will cost 0.0001 BTC
- priority bitcoin withdrawals, will cost 0.0003 BTC
We are doing our best to keep these fees reasonable, while trying to give the best service we can. If these new fees impact heavily on your trading activity at TheRock, please let us know: any feedback in this regard is appreciated.