Cointellect posted news in regard to the 30% fee clarification and bulk payments implementation through credit cards. Doesn’t this sounds to so familiar with coingeneration.com? so many good news to hide issues and keeps its members motivated.
This was the key news published by the previous coingeneration.com website business to keep its members motivated so they get too much negativity comments feedback on the internet. Well it had started with cointellect now, pretty much similar to coingeneration in the old days. When payments issue arise, these business will try to calm its members by publishing news that would keep the members calm and continue to be motivated. Then payments will continue, then stopped again, and then pay again, then stopped, then pay a little bit, then stopped, then new news switching to different ideas to keep members motivated like will pay in bulk big volume payment, IPO stock offerings and so on with the company. Yes it’s coingeneration.com methods that had scammed hundreds thousand people whom doesn’t know.
Published at Jan 6, 2015 5:55:00 AM
We wanted to issue a formal statement clarifying our position on the Dogecoin withdrawal fees we recently implemented. For those unfamiliar with the recent change, we have added a a withdrawal commission taking place on Saturdays and Sunday’s ranging from 20%-30% exclusively on Dogecoin withdrawals.
While this can be interpreted as a drastic change, it’s important to understand that the end goal isn’t to tax the user – it’s simply to discourage Dogecoin withdrawals. We realize this isn’t an ideal situation; however, recent improvements to our platform have minimized our overall Dogecoin liquidity. Given the recent block reward halving and the large volume of Dogecoin withdrawals we process, it has become increasingly difficult to keep up with demand.
To accommodate this recent change, we partnered with CryptoPay to offer completely free Bitcoin withdrawals. Bitcoin withdrawals are absolutely not subject to this commission and are being processed instantly. Additionally, we always have and still offer PayPal withdrawals which are only subject to PayPal’s fees. We kindly ask users to note that we expect any queued PayPal withdrawals to finish processing this week.
In conclusion, we are trying to transition the bulk of our withdrawal volume away from Dogecoin and towards PayPal or Bitcoin. While we have every intention of continuing to offer support for Dogecoin withdrawals, we are simply unable to keep up when 80% of our volume can be attributed to Dogecoin.
Our developers are constantly working to expand our payout options and our most recent plans include offering credit card mass-pay solution. This feature will be implemented in collaboration with Wavecrest, a reputable company that also services Xapo.
We do apologize for any inconvenience and thank you all for your continued support.