Xapo to Forward Miners Fees to Users

Announcements, FinTech, News | May 18, 2017 By:

Xapo users will soon begin to pay the miners fees themselves in order to send out transactions.

Palo Alto, California-based bitcoin wallet provider Xapo announced that, in the next couple of days, it will no longer pay mining fees for customer transactions and will forward the cost to users. The company cited growing network activity as the major factor behind the policy shift.

The company stated that users can choose what type of a fee they are willing to pay. Either a standard or high priority fee can be selected for every withdrawal.

“Due to the increase in transaction volume of the bitcoin network, we’d like to give our users some control over their transactions,” according to an email sent to Xapo users. “That being said, Xapo will give you the ability to select which type of fee you’d like to pay – a standard or high priority fee – thus allowing you to choose how quickly you’d like your transaction to be processed!”

Xapo follows a few other bitcoin companies, including Coinbase and Bitpay, who have also ceased paying user transaction fees.