BTCC fees

[metalbean]

Hi, I am a newbie trading on BTCC.

Looking at their fee structure it says: "BTCC Uncirculated Bitcoin Withdrawals" they charge 10% while for normal bitcoin withdrawal the fees are 0.0001%.

Whats the difference between uncirculated bitcoins and regular bitcoins withdrawals?

[steven0021]

Hi, I am a newbie trading on BTCC.

Looking at their fee structure it says: "BTCC Uncirculated Bitcoin Withdrawals" they charge 10% while for normal bitcoin withdrawal the fees are 0.0001%.

Whats the difference between uncirculated bitcoins and regular bitcoins withdrawals?

Uncirculated bitcoins are bitcoins that comes directly from the block reward (untainted bitcoins).
Normal withdrawals will give you bitcoins that have been transferred from countless addresses before (tainted bitcoins).

And it's 0.0001BTC fee. Not 0.0001%.

[metalbean]

Uncirculated bitcoins are bitcoins that comes directly from the block reward (untainted bitcoins).
Normal withdrawals will give you bitcoins that have been transferred from countless addresses before (tainted bitcoins).

And it's 0.0001BTC fee. Not 0.0001%.

So I guess when I buy bitcoin from the exchange it's considered normal (tainted) bitcoins?

[Chris!]

Uncirculated bitcoins are bitcoins that comes directly from the block reward (untainted bitcoins).
Normal withdrawals will give you bitcoins that have been transferred from countless addresses before (tainted bitcoins).

And it's 0.0001BTC fee. Not 0.0001%.

So I guess when I buy bitcoin from the exchange it's considered normal (tainted) bitcoins?

Exactly. There's nothing really nessicarily wrong with tainted coins, but obviously you don't really know where they've been whereas with fresh coins they're freshly mined and you don't have to worry at all! I've never bought coins right from being mined and I've never had an issue come up because of it so I wouldn't worry too much about it.

[metalbean]

Uncirculated bitcoins are bitcoins that comes directly from the block reward (untainted bitcoins).
Normal withdrawals will give you bitcoins that have been transferred from countless addresses before (tainted bitcoins).

And it's 0.0001BTC fee. Not 0.0001%.

So I guess when I buy bitcoin from the exchange it's considered normal (tainted) bitcoins?

Exactly. There's nothing really nessicarily wrong with tainted coins, but obviously you don't really know where they've been whereas with fresh coins they're freshly mined and you don't have to worry at all! I've never bought coins right from being mined and I've never had an issue come up because of it so I wouldn't worry too much about it.

Thanks a bunch! Sounds right to me