19 January

Posted on at

Stakeminers - Policy Changes - 19 January 2016

Stakeminers has made two policy changes both are effective 25 January 2016. Our Terms of Service will be updated shortly.

Thank you, Stakeminers.com

Stakeminers - Deposit Minimum Policy - 25 January 2016
1.0 Introduction
This policy establishes the minimum deposit in bitcoin (BTC) or altcoins which Stakeminers will accept from clients. The minimums will be changed to ensure each deposit gains stake weight in the stake pool.

2.0 Bitcoin Deposit Minimum
The deposit minimum for any bitcoin deposit is 0.05 BTC effective 25 January 2016.

3.0 Altcoin Initial/Subsequent Deposit Minimums
The initial altcoin deposit minimum is 0.005 BTC effective 25 January 2016. Subsequent deposits can be of any amount.

Why has this change been made?
There are two reasons for the change.
1. The new minimum better reflects the cost of managing our accounts and will ensure each deposit adds to the stake weight.
2. We have added altcoin wallets and therefore the policy had to be updated to include altcoin deposit minimums.

Principal Withdrawal Cap - Effective 25 January 2016
This is the maximum Stakeminers will payout in principal withdrawal each week. The portion of principal withdrawal requests exceeding the maximum will be paid out in subsequent weeks until the full principal payment is made.

The maximum is 0.35 BTC per week. (This amount is dependent on the market value of the coins we stake at the time of withdrawal and could increase with favourable market conditions).

Example: You request a withdrawal of 0.50 BTC, Stakeminers will payout the first 0.35 BTC in week 1 and pay the balance 0.15 BTC in week 2.

Why is this change being made now?
The collapse of Cryptsy has driven altcoin prices to new lows. As a result our redemptions of altcoins to meet principal withdrawal requests are simply driving prices lower. This change will reduce our need to sell altcoins into a depressed altcoin marketplace. We will modify the principal withdrawal cap as the market price for altcoins improves.

Stakeminers.com is a crypto-currency altcoin Proof of Stake (POS) company with current holdings in 12 altcoins. We provide our clients with a variable rate of return generated from our staking pool earnings.

Please see our website Stakeminers.com or email us info (at)stakeminers.com for more information.