SOFORT and Mastercard payment transfers

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Dear Coinmates,

SOFORT payment transfer has been added and is now available for traders in Austria, Belgium, Germany, Italy, the Netherlands, Poland, Spain and Switzerland. The fees for using this payment method are an extremely low 1.5%.

Coinmate Account Deposit Options

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SOFORT is a secure system with instant payment transfer capabilities. Those traders who are located in countries that support SOFORT should find it very convenient.

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Additionally, we have enabled Mastercard payment options for all of our European clients. Coinmate fees for funding your account with Mastercard are among the best the market has to offer, and range from between 3.8% and 3.98%. You can find out more on our fees page.

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Visa card payments will also be accepted in the very near future. Our Visa payment method is already in the test environment and should be available for clients very soon.

Regards, Coinmate team

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Currency pairs BCH/EUR and BCH/CZK added

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Dear Coinmates,

Two currency pairs – Bitcoin Cash/Euro (BCH/EUR) and Bitcoin Cash/Czech Koruna (BCH/CZK), have been added to the exchange. Buying and selling Bitcoin Cash will have reduced fees until the end of the year.

Coinmate is committed to improving our services long-term, and to support positive developments in the cryptocurrency industry as a whole. New currencies and more enhancements will be added in the near future.

Best regards,

Coinmate team

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Press coverage August 2018

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Cheers, Coinmates!

Here’s a bit of press coverage about us – on the subject of our new negative fees.

A big thank you to the media who published.

Regards, Coinmate team

 
Bitcoinafrica.io
https://bitcoinafrica.io/2018/08/14/crypto-exchange-coinmate-io-pays-traders-to-trade/

Bitnovosti.com
https://en.bitnovosti.com/2018/08/15/coinmate-io-crypto-exchange-started-applying-negative-fees-to-high-volume-traders/

Blokt.com
https://blokt.com/trading/competition-has-driven-one-crypto-exchange-to-embrace-a-negative-fee-model/amp

Cryptocapitalnews.com
http://cryptocapitalnews.com/competition-between-exchanges-heats-up/

Cryptoverze.com
https://cryptoverze.com/exchange-pays-traders-as-competition-heats-up/

Zycrypto.com
https://zycrypto.com/coinmate-exchange-surprises-exchange-market-with-negative-fees/

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Coinmate.io pays traders to trade. Our new fees

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Dear client,

Coinmate is pleased to offer you negative fees of 0.05 per cent if your trading volume hits over three million euros over a monthly period.

This is not a gimmick or a special offer. It is now our standard policy. We believe this is a world first among crypto exchanges. We’ve always been proud of our low fees and would like to show you how we compare with other exchanges.

Standard fee comparison among exchanges

EXCHANGE TAKER FEE MAKER FEE
Coinmate 0.25% 0.12%
Kraken 0.26% 0.16%
GDAX 0.30% 0.00%
Bitstamp 0.25% 0.25%

If you hit the magic three million euros monthly trading volume, then we will provide you with a 0.06% ‘taker’ and  -0.05% ‘maker’ fee. Yes that’s right – we will pay you for your ‘maker’ trades.

Take a look how this compares with other exchanges:

Fee comparison on three million euros trading volume

EXCHANGE TAKER FEE MAKER FEE
Coinmate 0.06% – 0.05%
Kraken 0.14% 0.04%
GDAX 0.30% 0.00%
Bitstamp 0.12% 0.12%

We hope you will benefit from these changes. If you want more detailed information, please have a look at the fees page on our site.

Lowering fees,

Your Coinmate.io team

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Litecoin trading LTC/EUR and LTC/CZK begins

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We are happy to announce new trading pairs LTC/EUR and LTC/CZK to be introduced this week. The deployment will require about a 10 minute system downtime on Thursday 24th May 10pm CET. We apologize in advance for any inconvenience the unavailability may cause you.

 

High and low priority Bitcoin withdrawal

We have become one of the first crypto exchanges to deploy dynamic bitcoin withdrawal fees, giving you the option to choose between a fast and economical bitcoin fee.

Bitcoin fees are now updated several times a day based on the bitcoin network situation. High priority withdrawals are processed within a few minutes and confirmed as soon as possible. Economical withdrawals are processed in hourly batches and targeted to be confirmed within 3 blocks. You can also choose between the 2 bitcoin withdrawal types when using our API.

 

What’s next?

We are expanding our team with additional developers as we plan to onboard new cryptocurrencies (Dash, Ethereum and Ripple). We are also very close to introducing a new competitive trading fee model. Stay tuned.

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Christmas and New Year’s Holiday Notice

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Dear coinmate users,

Please be informed that during Christmas Holidays (23rd December until 2nd January) our Customer Support will be very limited.

Support

Please do not contact our Support or write emails during these days unless it is absolutely necessary. Response to issues may take up to 7 days and General support enquiries will be ignored. Video verification will remain active in a limited mode but reviewal of bank account statements and questionnaires will be postponed until 2nd January.

Deposits, withdrawals and trading

Single Deposits that do not fit your current 24-hour account limit will remain pending until 2nd January. Bank Deposits within your current account limits will be processed automatically and Bank Withdrawals within your current account limits will be processed on business days. Also, please be noted that it is possible to Deposit and Withdraw ONLY USING YOUR VERIFIED BANK ACCOUNTS. Faulty deposits (i.e. from accounts of other persons or cash deposits) will be returned after 2nd January and will be subject to a 10 EUR processing fee. Issue with Bitcoin processing has been fixed and Bitcoin Deposits and Withdrawals are now are being processed flawlessly. All trading will remain active and uninterrupted during the Holidays.

We apologize for such short notice but the enormous growth in new registrations, associated administration, overloaded bitcoin network with rising unconfirmed bitcoin transactions and bitcoin network fees in the past 30 days has been overwhelming on our staff. Thank you for understanding.

We wish you Merry Christmas and a Happy New year.

 

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BCH trading and Segwit addresses

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Dear conmate users,

be informed there will be a planned maintenance tonight 11th December starting 10pm CET, during which the website will be offline. Planned downtime is approx. 30min.

Bitcoin SegWit

We are introducing Segwit addresses and changes to bitcoin processing as a first step in our efforts to decrease the bitcoin transaction fees. After the deployment tonight, the “Generate new address” button in the Bitcoin Deposit form will provide a new bitcoin deposit address starting with 3 (opposed to the old address format starting with 1). We recommend all users to begin using this new bitcoin deposit address type for bitcoin deposits as soon as possible. The old bitcoin deposit addresses will remain valid for another week, after which they will be deactivated. The automated trading API call “bitcoinDepositAddresses” will require generating the new address in the 1-week transition period.

Bitcoin transactions using the new Segwit 3-type addresses take less space in bitcoin blocks and thus contribute to efficiency and lower transaction fees. We are also switching to a more efficient bitcoin transaction processing model. In our further efforts to decrease the bitcoin transaction fees we plan to introduce a low-priority bitcoin withdrawal fee in addition to the high-priority fee (planned for January).

Bitcoin Cash

New trading pair Bitcoin Cash / Bitcoin will be added. Bitcoin Cash is a hard fork of Bitcoin, the fork occurred on 1st August 2017. Users that held any bitcoin balance in their CoinMate account on  1st August 2017, will be credited the same amount of Bitcoin Cash tonight.

Optimalization

Bug fixes, small changes and system optimization. There are several bug fixes and some small changes in this version including system and database optimizations to cater for increased traffic.

 

Thank you for choosing CoinMate.io

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Bitcoin SegWit2X Hard Fork is coming

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on or about 16th of November 2017, approximately 90 days after segwit activation, bitcoin network will split into 2 independent branches: Bitcoin Core and Bitcoin Segwit2x (this will happen when block 494784 is mined). Segwit2x aims at increasing the current 1MB bitcoin block size to 2MB. Bitcoin Core will keep 1MB blocks.

Here is a brief summary of the history leading to this occasion.

Satoshi Nakamoto released first bitcoin software in 2009 and there was no block size limit for Bitcoin, except that implied by the 32MB message size limit. Later at the end of 2010, Satoshi decided to change the limit to 1MB, which was plenty enough at that time. The reason for such constraint was fear of network congestion that could be caused by spam attacks (it was possible to broadcast transactions containing no fee).

Since then bitcoin increased in popularity and transaction limits started to hit the constraint set back in 2010. Majority of the bitcoin infrastructure today relies on the referential software client Bitcoin Core (currently representing about 64% of all bitcoin nodes). And a part of the bitcoin community is raising concerns that there is no immediate solution to the now constant congestion of the bitcoin network.

So what is next?

Even though the bitcoin network operates at 100% of its capacity since January 2017, the Core developers are not in favor of the block size increase claiming that Bitcoin’s consensus rules should only be changed sparingly and with broad agreement from the entire community.

This opinion is at odds with the Segwit2x initiative. On 25th May 2017  58 companies from 22 countries, (representing  83,28% of hashing power) agreed to upgrade the bitcoin protocol to so called Segwit2x, which in effect should increase the block size to 2MB causing a so called hard-fork.

Our position

We at CoinMate will approach this situation responsibly and we will offer our clients the opportunity of choice. On the day of the split we will make a bitcoin balance snapshot and we will credit all clients owning bitcoin the same balance also in the other network. There is no action necessary on your side. Your bitcoins will be safely stored and access to bitcoin balance on both networks will be granted after the split as soon as it is safe.

Our planned procedure will be as follows: 

  • All bitcoin deposits and withdrawals will be disabled 24hrs prior to the split
  • All trading will be intercepted approx. 1 hour prior to the split
  • Individual bitcoin account balances snapshot will be made
  • Trading will be restarted, the legacy chain will remain to be called BTC, the new chain B2X
  • You will be credited B2X balance and deposits and withdrawals will be enabled once it is safe to do so.
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