Unocoin, a popular India headquartered bitcoin exchange has informed users that due to the growing volume in off-chain transactions of Bitcoin, the company will be increasing the BTC network fee from 0.0005 BTC to 0.0009 BTC per transaction.
Sufficient fees are important to maintain prompt confirmation timings, the change is due to come into effect for users on Tuesday, November, 14th 2017.
To note, the Bitcoin transaction network fee is the incentive to miners supporting the bitcoin network that validates and record transactions on the blockchain and this fee does not go to Unocoin.
Transactions between Unocoin users off-chain are still free.
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