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0 sats \ 2 replies \ @Solomonsatoshi 15 Aug \ on: How much bitcoin are you OK holding in a custodial wallet? bitcoin
with bitkit individual transactions are limited to under USD999...so much for self sovereignty.
with aggregate transactions up to a total of usd5000 1% routing fee is charged.
'until such time as the amount of Routed Payments made through a Blocktank Connection exceeds US$5,000 in value (in aggregate), an amount equal to 1% of the amount of the Routed Payment;'
Thats a hell of a lot higher fees than I pay on coinos...imo bordering on usury.
Bitkit can close your 'self sovereignty' wallet at any time without notice or reason and can change the terms of use including fees charged without notice at any time - so much for self sovereignty.
Read the fucking fine print.
https://bitkit.to/terms-of-use
You can use your own channels if you want to. Also, Bitkit is a spending wallet. You should not have more than 1K in any spending wallet. The rest should be on your cold wallet.
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I see no reason to move from coinos which offers far far lower fees and greater convenience- ie not reliant upon playstore - coinos can be used on any browser and on linux and given Bitkits T&Cs it hardly seems like anything even close to true self custody or self sovereignty- its just a rentseeking rip off in comparison to coinos.
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