Gary McFarlane, a crypto analyst at Interactive Investor, the stockbrokers, said Blockchain.com's minimum was far above the average transaction fee of $2.31 (£1.82). He said many of those who purchased cryptocurrencies would have been doing so speculatively and would own small amounts.
According to analysis by Interactive Investor, almost 18 million wallets currently hold less Bitcoin than Blockchain.com’s limit. A single person can own multiple wallets.
Mr McFarlane said: “Although individuals holding their Bitcoin in exchange wallets still own the holdings, they effectively can’t access it with these rules. Worse still, the exchange could be using those funds for liquidity on the exchange – such is the crypto wild west.”
I can't tell whether these guys are genuinely stupid, given no effort in actually researching how to transact with BTC, or intentionally trying to mislead others.
If the editor actually did any bit of research, they could have realized that there is no intrinsic limitation on the amount of BTC you can send, apart from the dust limit which is minimal. You can set your own fees if you used a wallet like Electrum, or Bitcoin Core, but no, they decide to go with the example of Blockchain.com - a very outdated example for sure as well, since fees are nowhere near that much now.
If you want to sell these small amounts, deposit onto Paxful or Localbitcoins, or any p2p platform for that matter! Why are you looking at heavily regulated exchanges with high barriers of entry if you've got less than $100 to trade?
I'd also like to see where they got the figures "millions of investors" from. It seems sensationalist and completely arbitrary.
