Bitcoin withdrawal options – fastest in industry

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Coinmates,

Bitcoin (BTC) withdrawal options have been separated into two streams, allowing you two ways to withdraw. There is a faster way, called “high priority” with slightly higher fees. Also a standard way, called “economy” with lower fees.

High priority BTC withdrawal – this super-fast alternative is processed every seven minutes, and should allow your BTC withdrawal to be confirmed within 30 minutes.

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Economy BTC withdrawal – this standard option is processed every 60 minutes. For your convenience you can see a countdown for each new batch of transactions to be sent. Your BTC withdrawal should be confirmed within two hours. Correspondingly this option has lower fees. 

btc withrdawals

Question: Which crypto exchange has the fastest Bitcoin withdrawals?

Answer: We think it’s Coinmate. Getting BTC from the exchange and into your own personal wallet using our “high priority” withdrawal option is certainly among the fastest and possibly the absolute fastest way that any crypto exchange can do it.

BTC withdrawal via API

Additionally, BTC can be withdrawn directly via Coinmate’s API. This is a more advanced option which is very convenient if you want to withdraw in batches or automate withdrawals or pay with ease into different wallets. The API can be configured to make more complicated mass payouts simpler, while still being safe and having the lowest possible fees.

BTC withdrawals FB

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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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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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