Europe-based cryptocurrency exchange HitBTC today announced a new feature for dynamic pricing on network transactions which will provide more flexibility and control to users. With the Bitcoin network sometimes encountering periods of congestion, transactions would be stuck for hours and even days.
Under these conditions, HitBTC used to increase the fee for ALL transactions, on its own. But for some transactions, even the increased amount isn’t enough. And for some, it’s too much.
Starting today, users can choose between static and dynamic fee amounts. HitBTC clients will be able to decide for themselves, how fast they want their transactions to proceed and how much they want to pay.
When you choose the “recommended” option (pictured above), you will immediately see the fee amount, calculated on the basis of network load. Proceeding with this amount means that your transaction most likely will reach the blockchain in less than an hour, regardless of the load, and will allow for faster transactions.
Another European exchange in Holland headquartered Bitonic introduced the same dynamic fee structure on their platform as well.
