6 years ago
BitPay Will Not Process Bitcoin Payments Below $100 Due to High Fees
BitPay, one of the largest bitcoin payment processing platforms for online merchants, will no longer process payments below $100 due to rapidly rising bitcoin transaction fees. Over the past few months, the size of the bitcoin mempool has increased to more than 100 million bytes and the number of users, average transaction per day, and user activity increased exponentially. As a result, given the lack of adoption of Segregated Witness (SegWit) and the fixed block size of bitcoin at 1MB, the average bitcoin transaction fee has surpassed $30.
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