SegWit & CoinDeal: Lowee Fees on Bitcoin Transactions

Crypto Markets News

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Photo: CoinDeal / Medium

Photo: CoinDeal / Medium

Trading fees remain one of the core criteria that traders usually pay attention to when they need to opt for a platform. And it is quite logical, as traders want to choose the platform for a long time and they are interested in finding the variant that will be associated with fewer expenses.

Special Terms on CoinDeal

The team staying behind CoinDeal that is one of the most actively growing crypto exchanges understands this position of traders and wants to provide the most appropriate terms for them.

Bearing this idea in mind, the team offers the following variant. Those CoinDeal clients who want to transact Bitcoin onto the exchange wallet utilizing a Bech32 (SegWit Native) address will have a possibility to enjoy 50% lower fees while withdrawing BTC from the market.

Alex Strześniewski, Business Development Director at CoinDeal, explains their idea the following way:

“We created an exchange for crypto enthusiasts and Bitcoin aficionados. This particular offer gives users 50% lower fees on BTC payouts and so far the turnout has been great. The only thing users need to do is to deposit BTC onto their CoinDeal accounts using the Bech32 standard, so addresses starting with “bc1””.

At the current moment, the platform support over 44 crypto markets and the list of fiat assets includes Dollars, Euro, Pounds, Polish Zloty, Rubles and Korean Won. Though the list of the supported currencies is rather impressive, it is planned to expand their range further with a view to providing traders and investors with a reliable one-stop solution.

The users’ opinion also matters. They can take part in the voting for the new cryptocurrency to choose the next crypto to be added to the platform.

In order to provide users with an opportunity to pay less for transactions, CoinDeal considers it necessary to increase awareness of the SegWit tech. Despite the fact that the use of SegWit address can make BTC transactions more feasible, a lot of people still use legacy addresses that are more expensive when applied for transferring BTC.

“CoinDeal is also one of the few exchange platforms that have made the switch to SegWit, others are behind us in this matter. We really want to lead the way in educating our users about this important protocol upgrade”, – stated Kajetan Maćkowiak, CoinDeal’s co-founder.

Being introduced in 2017, Segwit is a soft fork of the Bitcoin protocol. Its adoption is around 36%  but the team behind CoinDeal believes that education of the community will change the situation.

CoinDeal Is Expanding

Moreover, the team pays special attention to such an aspect as safety. “For me as a programmer, user safety is a priority; no company that deals with money entrusted to them by their customer can forget about it. “- said Adam Bicz, one of CoinDeal’s founders.

CoinDeal is actively developing its business in the US market. In the near future a beta version of the platform will be launched in some states. To expand across this region CoinDeal is working with the renowned Oster McBride PLLC.

It’s also worth mentioning that CoinDeal has become the first crypto firm to become a sponsor of a Premier League team – Wolverhampton Wanderers FC.

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