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Bitcoin has shown a tremendous growth in 2017, with its price touching $20,000 and futures being introduced on exchanges. As a result, the BTC network is overloaded at the end of the year. Massive transaction delays are reported by all wallet operators, and network fees reach up to hundreds of dollars in equivalent.
Freewallet recommends flash transfers or instant off-chain transactions among our users as a way to save your time and money. Flash transfers take literally seconds to be completed; plus, there are no fees associated with them.
“In December 2017, BTC network fees can be as high as $100 and more. That is, of course, if you don’t want to watch your transaction stuffed in the mempool waiting to be picked up by the miners. Since flash transfers are performed off the Bitcoin network, they are delivered instantly, and Freewallet has never charged users for making transactions,” Alvin Hagg, Freewallet co-founder, explains.