Weekly Update, Moving Forward
Published at Jan 19, 2015 12:05:39 AM
CryptoPay
As industry leaders, we are very excited about our recent partnership with CryptoPay. Access to their platform has enabled us to offer fast, convenient, and low fee Bitcoin payouts. However, like with all new ventures, we do encounter the occasional bump in the road. Some errors with CryptoPay's API resulted in stuck transactions and withdrawal delays. Our developers have collaborated and CryptoPay's most recent platform upgrade resolved most of these problems.
Additionally, we want to bring attention to the vast amount of resources a merchant services agreement requires. As a start-up company in a competitive space, it's not easy to finance the massive upfront investment these partnerships require. However, we are continuing to refine the agreement and are hopeful for the future.
PayPal
Despite PayPal's challenging Terms of Service, we are still striving to optimize PayPal withdrawals. The recent holiday season compounded with ACH deposit limits have resulted in a large backlog of payout requests which we are continuing to process on a daily basis. Due to international restrictions on PayPal accounts, we can only process withdrawal requests at a rate of 15000€/daily - an amount which simply can not accommodate our current volume. We are seeking both an immediate solution and alternative payout methods.
We would also like to kindly remind folks that PayPal and CryptoPay were added as bonus features to provide our users with additional convenience. These two mediums were never intended to be used in the capacity they are now. Dogecoin always has and will continue to be our preferred medium for transacting.
CoIntellect is among the extremely few pools that legitimately offer support for fiat currency. As you can imagine, both local and international regulations make this difficult. However, we are continuing to work on it and are moving forward with confidence.
London
In other news, we are excited to both be attending and sponsoring the Bitcoin Expo 2015 in London. We invite all of our community members and even critics to attend and meet the CoIntellect team. Both our Public Relations (PR) Manager and Customer Service Support Team Manager will be available at our booth and will be handing out various goodies including CoIntellect clothing and crypto-debit cards. We encourage you to approach us with any questions, comments, concerns, or even for a casual chat. The event is free to attend and will include conference speeches, debates, and an exclusive exhibitors floor.
To The Moon!
Sincerely,
CoIntellect Staff
JOIN NOW - Cointellect Invite Code: 3da11d99
