Swaps from BTC to USDC (stablecoin) and back on Redeeem are now virtually free, after a 99% fee reduction to 100 satoshi. Our goal is to help traders remain profitable despite market volatility.
Go to your Redeeem Wallet, and you will see the option to swap your BTC into USD, and vice versa, for only 100 satoshi ($0.034), compared to over $5 in BTC mining fees prior to today. This feature will help traders better control for risk in today's volatile crypto market. We reduced the fees on our BTC/USDC stablecoin pair in light of the recent stock market manipulation.
GameStop (GME) is worth over $20 billion, up 1,500% in 2021, thanks to a viral Reddit subthread trying to save GameStop and squeeze Wall Street short sellers. The GME debacle has landed Robinhood and other high-profile brokerage firms in trouble for shutting off trading. The controversy highlights the fact that hedge fund billionaires are allowed to collude in private where they discuss stocks to buy and dumb at the same time, but it's illegal for retail investors to post publicly about which stocks they want to buy. Retail traders have pumped AMC Theatres (AMC) and BlackBerry (BB) with the similar purpose to make hedge funds suffer.
You might choose the Bullish swap option (USD to BTC) if you think bitcoin price will go up, and you might choose the Bearish swap option (BTC to USD) if you think bitcoin price will go down.
For swaps, enter a minimum of $5.00 and maximum of $10,000. Swaps are only 100 satoshi fee for most accounts. Max one request per 5 minutes. Tokens will be locked in an Ethereum (ERC-20) stablecoin smart contract, secured by your Redeeem password and wallet key with 2fa security. Redeeem does not currently allow users to send or receive USDC (stablecoins). We integrate with Ethereum only to access the ERC-20 stablecoins, at request of our users, but we are still very much a bitcoin in, bitcoin out exchange.
Trading fees are unchanged at 3%, and only mining fees are charged at time of withdraw (which vary by the hour).
Go to your Wallet to deposit or withdraw BTC and get started, or start a chat with one of our support agents on our website.