True to its promise of delivering a “real asset exchange experience,” the newly launched Float SV exchange has announced that withdrawals on Bitcoin SV (BSV) are now free for all its customers—until the end of 2019.
The feature is part of the BSV-based digital asset exchange’s BSV Zero Mining Fee Program, which was launched on Wednesday at 4 p.m. UTC.
Excited to announce free withdrawals on BSV for all Float SV users for the rest of 2019. https://t.co/39oCaIKQfd pic.twitter.com/eZ6gghizQT
— FloatSV (@FloatSVcom) April 24, 2019
In a blog post, the Float SV team clarified that users will be initially charged with 0.00005 BSV, which is the standard fee for each withdrawal transaction made on the platform. However, all withdrawal fees will be reimbursed to the Float SV accounts in BSV before 10 a.m. UTC every Wednesday on a weekly basis.
The zero-fee withdrawal will run until at least the end of the year, although the Float SV team noted that the terms of the BSV Zero Mining Fee Program are subject to changes “due to changing market conditions, risk of fraud, or any other factors we deem relevant.”
Float SV, the brainchild of Jack Liu, launched last April 17 with 0.00045 BSV transaction fees. That fee was furthered lowered to 0.00005, or 5000 satoshis, a day later on April 18. Part of Float SV’s exchange revenues will be reinvested into Proof of Work, according to the company.
UPDATE 2: Mining fees for #BSV withdraws have been further lowered to 0.00005 BSV or 5000 Satoshis. A 20x drop. Effective immediately across all OK Platforms. https://t.co/6M2bfB7g9z
— FloatSV (@FloatSVcom) April 18, 2019
Despite being the new kid on the block, Float SV is showing true promise—by staying true to its roadmap. In an interview with CoinGeek, founder Jack Liu shared his long term plans for the business, saying:
“You can imagine FloatSV will not be simply porting over all kinds of altcoins and trading them against BSV, that’s not the intention, the intention is to empower the trading of real assets between each other and empower them over proof of work blockchains because in my belief, in our company’s belief, those are the blockchains that can be relied upon sustainably.”
Aside from BSV, the exchange also supports BTC and BCH blockchains. To date, Float SV offers the most BSV trading choices in the world: BSV/USDT, BSV/USDC, BSV/BTC, and BCH/BSV. Liu has also teamed up with OKEx to launch Float SV, which means that OKEx users can transfer any assets supported by Float SV between the two exchanges. To learn how, check out this tutorial.
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