Custom payout thresholds now available

[Chris Sokolowski]

Hi Everyone,

We've been working on changing the payout thresholds allow customization. I'm happy to announce that custom payout thresholds are now fully implemented.

The default payout thresholds are $20 for Dash and Monero, $5 for NXT, Bitcoin, and Unobtanium, and $1 for every other coin. Like in the past, if you do not set a custom payout threshold, your balance will be paid when it exceeds the default payout threshold and you will not be charged any fees. These values were chosen based upon the relative costs of transactions on each network.

Custom payout thresholds can be set on your "settings" page and are denominated in the currency of payment. If you choose to enter a custom payout threshold, then your balance will be paid when it exceeds the value you entered. If your custom payout threshold is higher than the default payout threshold, then you will not be charged transaction fees; if your custom payout threshold is lower than the default payout threshold, then you will be charged any transaction fees necessary to process the payout. There is also a maximum custom payout threshold - $20 for Dash and Monero, $10 for NXT, Bitcoin, and Unobtanium, and $5 for every other coin. Once your balance exceeds the maximum custom payout threshold, it will be paid regardless of the custom payout threshold entered.

I have also updated the minimum payout amounts for all coins so that the median transaction fee does not cost more than 5% of the value of the transaction. Some of our users were setting very low payout thresholds and losing the entire payout to fees. The revised minimum payout amounts should prevent this loss from occurring.

I hope everyone likes the changes. Our goal is to strike a balance between users' desire to minimize the number of payments (and thus transaction fees) and our desire to minimize the amount of money we keep in our wallets. As always, we welcome your comments and suggestions.

[CritterDog]

It looks like Dash is working on much lower fees in a coming update this from there forum

""These Dash fees (IS & PS) will be much lower (10x lower) after update 12.1, which is currently being tested on Testnet.""

[Chris Sokolowski]

Thanks for the info. Monero I know is doing a similar thing. I will be updating the thresholds for all coins on a regular basis to account for changes in transaction costs.