We are excited to release the Beta version of batching on crypto-to-wallet withdrawals for Bitcoin (BTC). When you opt-in for Bitcoin batching, this may result in reduced withdrawal fees and extended processing time.
What is batching, and how does it work?
Historically, every time a crypto-to-wallet withdrawal is requested, a single on-chain transaction is broadcasted.
However, with batching, we will instead combine your transaction with others into a batch. The process of batching may result in reduced withdrawal fees and extended processing time.
How do we batch your transactions?
The Bitcoin network handles transactions by bundling them into blocks and attaching these blocks to the blockchain's end. A new block is created approximately every 10 minutes and has a fixed byte capacity. The scarcity of block space, coupled with rising transaction demands, contributes to elevated fees. When a single transaction satisfies multiple user send requests, it occupies less block space compared to processing each individually.
Which coins support batching?
Currently, we are only supporting Bitcoin for our withdrawal batching Beta.
What if I need my withdrawal to be processed faster?
No problem! Batching is an optional opt-in feature. At any time, you can choose not to batch to take advantage of faster processing time.
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