Announcing better Coinbase integration
Posted: Sat Dec 16, 2017 8:13 am
We recently modified the Coinbase dollar payouts to use a new method of payment that eliminates transaction fees. As a result, we reduced the Coinbase payout threshold from $250 to $10. Coinbase has a minimum fee that is charged to the customer for selling bitcoins, and $10 is the lowest possible payment amount before their minimum fee would start to take up a greater percentage of the payouts. Instead of just one or two payments per day, we expect to process hundreds of dollar payments per day now.
In order to make this change, we need different (and weaker) permissions with accounts than we did before. Now, we only need to obtain your E-Mail address instead of other data like your bitcoin addresses. E-Mail address is still a different set of permissions then we were previously requesting, however, so you need to reauthorize your Coinbase account.
We deleted all Coinbase account associations. There is about $20,000 in pending payouts that generated errors because customers have not granted permission to be paid. If you are earning dollar payouts, or if you want to earn them now that the threshold is much lower, please connect your Coinbase account again so that you can be paid using the new, much more frequent, method. By reconnecting your account, you will be much less subject to bitcoin value changes because sells will be executed 25 times more frequently.
Until you reconnect your account, you will not be paid because we don't have permission from Coinbase to pay you. While we'll make an effort to retain balances as long as we can, we don't want to end up like Nicehash holding huge sums of money, and our liability for dollar balances of accounts that have not been reconnected will end after 90 days.
We're glad to offer these lower payouts and we hope you enjoy the better integration with Coinbase!
In order to make this change, we need different (and weaker) permissions with accounts than we did before. Now, we only need to obtain your E-Mail address instead of other data like your bitcoin addresses. E-Mail address is still a different set of permissions then we were previously requesting, however, so you need to reauthorize your Coinbase account.
We deleted all Coinbase account associations. There is about $20,000 in pending payouts that generated errors because customers have not granted permission to be paid. If you are earning dollar payouts, or if you want to earn them now that the threshold is much lower, please connect your Coinbase account again so that you can be paid using the new, much more frequent, method. By reconnecting your account, you will be much less subject to bitcoin value changes because sells will be executed 25 times more frequently.
Until you reconnect your account, you will not be paid because we don't have permission from Coinbase to pay you. While we'll make an effort to retain balances as long as we can, we don't want to end up like Nicehash holding huge sums of money, and our liability for dollar balances of accounts that have not been reconnected will end after 90 days.
We're glad to offer these lower payouts and we hope you enjoy the better integration with Coinbase!
