Bye Bye Localbitcoins wallet!

[maikohoney]

New fee structure started today. Here's the news article about it:
https://news.bitcoin.com/localbitcoins-new-fee-structure/

I received (what was supposed to be) a $20 transaction to my localbitcoins wallet, and was charged a little more than $1.40 "deposit fee". The sender paid over $2.00 fee to send. This seems pretty excessive considering the small amount being sent.

Aaaand... I'm switching wallets

[LeGaulois]

Look like now all users who were doing small transactions will simply stop to do it and maybe stop to using them due to this change.
Deposit fees seems ridiculous, or I missed something in the story. I never used Localbitcoin and I doubt I am planning to use in a near future

[Iranus]

Xapo is doing a similar thing.  Of course this is not a "wallet" in the conventional sense, more like an account, so this is just a way of them making the fees simpler for you instead of making it confusing when you're faced with unusually high sending fees from accepting loads of small transactions.  You'll probably find that LocalBitcoins is not making profit (or at least not a lot) from setting those fees.

When you're using a proper wallet instead of an online wallet, just make sure not to accept loads of dust transactions anyway.  LocalBitcoins is trying to remove your incentive to do this.

[abhinav_thakur01]

I also got an email about this. In Europian and countries having higher currency value, it may work out . But in countries where the value of a dollar is multiple times that of a dollar, it might not work out well. You have said you are switching wallet while localbitcoins is a trading website. So I recommend you to use it for trade purposes only or use blockchain wallet.

[Slow death]

New fee structure started today. Here's the news article about it:
https://news.bitcoin.com/localbitcoins-new-fee-structure/

I received (what was supposed to be) a $20 transaction to my localbitcoins wallet, and was charged a little more than $1.40 "deposit fee". The sender paid over $2.00 fee to send. This seems pretty excessive considering the small amount being sent.

Aaaand... I'm switching wallets

Humm I have a good time that I do not enter the localbitcoin, but I planned to go back to it, but I was shocked when I see that in the last days someone is trying to get into my localbitcoin account

And now I see this news, I think I'll give up going back to localbitcoin

[232drialf]

Just had my first transaction too. I can't believe it. I got an email a few weeks ago I think regarding this but I thought it won't suck so hard.

They are having an idiot system for sure. If you sent to an internal address, only after you entered all the details the system finds out that is an internal address. So they still ask for fee for that transaction at first.

But this, why should I use localbitcoins anymore? Going to paxful from today!

[Taki]

Look like now all users who were doing small transactions will simply stop to do it and maybe stop to using them due to this change.
Deposit fees seems ridiculous, or I missed something in the story. I never used Localbitcoin and I doubt I am planning to use in a near future

Me too. In current moment I use Blockchain wallet and even if the fee value for the slow transactions is like 0.7$ there I plan to move all my earnings directly on the exchanger that I use. Anyway I don't hold coins too long, I just need that money, cause of I am unemployed. I am sure that strategy will help me to stay away from almost all kind of transaction fees.

[arpon11]

New fee structure started today. Here's the news article about it:
https://news.bitcoin.com/localbitcoins-new-fee-structure/

I received (what was supposed to be) a $20 transaction to my localbitcoins wallet, and was charged a little more than $1.40 "deposit fee". The sender paid over $2.00 fee to send. This seems pretty excessive considering the small amount being sent.

Aaaand... I'm switching wallets

Most of the wallet providers online are doing the same thing Coinbase xapo and even the almighty Blockchain.info are doing the same charges and I do believe is all connected to mining fee and their own charges.

[sweetdesirez]

I got the email from localbitcoins regarding their upcoming fee change. Was scanning the whole of localbitcoins website and every article I find to figure out how much they would consider to be a small transaction, but could not figure it out. Anyone has any idea?

[mattermaster]

Changing your wallet from localbitcoins to another will not give you any cheap foretells because occassionally, every wallets provider aim to increase their fee soon.
There was only a one wallet "Xapo" , that was totally confirming our transactions without fee, but alas!  They now charge every transaction with high fee.  So, just be where you are.

[cengsuwuei]

because this now bitcoin sending fee is high
so all wallet and exchanger incraese fee sending, because is not incraese sending fee service can close , because if fee sending low is very long time confirmation or maybe without confirmation

[Graphics]

The new fee structure really sucks! High sending fees... ok. But a depositing fee?!

Do you know a real alternative? With auto semi-mixing on depo/send? Because in my eyes, this is the main reason to use localbitcoins.

[MFahad]

The new fee structure really sucks! High sending fees... ok. But a depositing fee?!

Do you know a real alternative? With auto semi-mixing on depo/send? Because in my eyes, this is the main reason to use localbitcoins.

The best way to have that type of control is to actually get off your butt and start your own.  The lbc startup cash was around $87,000 if I recall, to cover the possible legal issues, time between TX's and other costs.  Let us know what the ORL is and we can stop by and enjoy your low fees that will result in lagging and hanging TX's that someone else will come along and tell you how you should be doing business with your business.

[ivanst776]

New fee structure started today. Here's the news article about it:
https://news.bitcoin.com/localbitcoins-new-fee-structure/

I received (what was supposed to be) a $20 transaction to my localbitcoins wallet, and was charged a little more than $1.40 "deposit fee". The sender paid over $2.00 fee to send. This seems pretty excessive considering the small amount being sent.

Aaaand... I'm switching wallets

Fees on both sides? It doesn't make sense really, it's absurd paying fees for such things.

Generally the fees are increased in every wallet mostly (except poloniex exchange which still has 0.0001BTC fee).

I would suggest to not use that exchange/wallet or if you can't then use as less as possible.

[asu]

It's just maid by fees because it covers the miners fee.... As of now blockchain oveoad and jist accepting now higher fees loke 0.001BTC above....

[iqlimasyadiqa]

New fee structure started today. Here's the news article about it:
https://news.bitcoin.com/localbitcoins-new-fee-structure/

I received (what was supposed to be) a $20 transaction to my localbitcoins wallet, and was charged a little more than $1.40 "deposit fee". The sender paid over $2.00 fee to send. This seems pretty excessive considering the small amount being sent.

Aaaand... I'm switching wallets

This is the usual thing happening right now. All the wallets are experiencing the same thing, we have difficulties in doing bitcoin delivery.
So increasing the cost is the best alternative today to be able to provide comfort and speed for bitcoin users.

[Taki]

Here I fund a thread to you. It may be interesting if you still didn't find your dream wallet: https://bitcointalk.org/index.php?topic=1975324.msg19666043#msg19666043

[Tazmo]

what are your thoughts on breadwallet?

[onrise]

Many users will switch now from Localbitcoin. They are excessively started to charge which is way beyond the fees even charged by miners. Also they have started to charge for internal transfer within other LB address which is not a good deal. 

[raymond541]

charged fees for deposit really absurd.I never used Localbitcoins I saw some people also complaining about others exchange that they also charge fees for deposit.charge fees on deposit means people will demotivate to deposit on Localbitcoins.also I think many people will leave and find another source.this will be very bad move for Localbitcoins.