Last year we were able to lower our costs and in turn lower our prices for selling cryptos. Unfortunately beginning December 22nd, 2017 we must raise most of our rates slightly.
The reasons for this are:
- Extreme volatility – We buy coin and have to hold it. Unfortunately when we buy one bitcoin at $16500 and two days later the price drops to $13000 we cannot sell that bitcoin.
- Low supply – The suppliers we buy from are holding onto their coin waiting for prices to return because they can’t afford to sell either
- High transaction fees – We send bitcoin through multiple wallets for your privacy and then to you. Each time we send it we are charged a transaction fee. The fees have been very high, as much as $55 for one send/transaction.
- Exchange rates- To trade bitcoin for altcoins (Bitcoin Cash, Ethereum, Litecoin, Monero, Ripple) has become more expensive because less people want to cash out their altcoins for bitcoin. We also still have to pay the high bitcoin transaction fee to send to an exchange.