Hi,
I fully support the minimum order of $100 orders, but would like to see this minimum order of $100 being allowed to be made up of smaller amounts.
I.e. - $70 of BTC, $32 worth of NANO.
Is this something which is able to be implemented in the near future?
Great suggestion Jason!
The problem is that the smaller the order gets, the larger the network transaction fee becomes compared to the size of the order.
For example, right now a Bitcoin transaction has a network fee of 0.0002 BTC, or $1.00 NZD, regardless of the size of that transaction.
In a $1000 order, that fee is 0.1% - effectively immaterial.
In a $100 order, that fee is 1.0% of the order. Not the best, but not terrible.
In a $10 order, that fee is 10% of the order!
So while we can easily sell less than $100 minimum, we’re concerned that people will be unhappy with such a large percentage of their order going to the network transaction fees.
What about other coins that have really low fees like Dash does? The current fees on that network are less than $0.001 for most transactions. The block size is planned to keep increasing to meet demand, and keep the fees low/
That’s a great suggestion! We could absolutely lower the order size for those coins - I’ll do it ASAP
I like that the limits to sell back are very low I’ve found it useful to be able to sell small amounts if I need to