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For a limited time only, one of the world's largest online sportsbooks, BetOnline, has vowed to refund bitcoin network fees. Note that this was as of December 26, 2023, so if you are reading this a week or two or longer thereafter, chances are this special promo will have ended.
The offer comes as bitcoin has sky rocketed to a price of 42,646.40 as of December 26. That's down from a 19 month high of 19-month highs at $44,730.
The fees have gone from $4 in early November to as high as $31 at one point during the month of December.
The Bitcoin Average Transaction Fee is at a current level of 14.72, down from 22.75 yesterday and up from 1.069 one year ago. This is a change of -35.28% from yesterday and 1.28K% from one year ago.
Bitcoin Average Transaction Fee measures the average fee in USD when a Bitcoin transaction is processed by a miner and confirmed. Average Bitcoin transaction fees can spike during periods of congestion on the network, as they did during the 2017 Crypto boom where they reached nearly 60 USD.
Anyone who has requested a payout using bitcoin understands the pain of fees and rather lengthy confirmation times (a few hours compared to the typical 45 minutes).
BetOnline promotes bitcoin as its preferred withdrawal method, typically tacking on a more enticing bonus.
- Aaron Goldstein, Gambling911.com
