So.. I decided to test the new Bitcoin system in Payza and I'm not sure that I did everything right but here's the process I have followed.
This could be labeled "How to use Payza BTC balance to deposit bitcoin to FamilyClix" (or better how NOT to do it... lol)
Firstly I created a bitcoin address for myself to function as a wallet where I'll be able to get paid at.
This went smoothly and I added that address in my personal settings in FamilyClix so I will test it when my next payment gets ready.
Now on the second part of my testing.. I've decided to deposit 50 USD to FamilyClix (to also benefit from the 15% deposit promo).
So firstly I had to transfer money from my USD balance to my BTC balance and for this purpose I exchanged 57.95 USD that I had lying there to 0.01179115 BTC.
The exchange rate at the time was 1 BTC = $4914.70 USD.
Transfer was instant and all went well with it.
And now on to the final part of the process. I had to send 50 USD equivalent BTC amount to FamilyClix.
I went over to the FC site and selected deposit by Bitcoin.
They displayed their Bitcoin address and requested me to send them 0.01073753 BTC.
I went back to my Payza account to find how to do it and figured out that in order to send BTC to external bitcoin wallets I would have to use the withdrawal option and inserted there their provided bitcoin address.
Then a transaction fee popped up.. and that was 0.001 BTC.. which translates to 4.66 USD.. Is this normal?
I guess with every deposit so far it was FamilyClix that was paying the Payza fee, so I went ahead and picked the option "the recipient pays the fee" and completed the transaction as suggested. I'm not sure what I should do but since I was in the middle of it I decided to complete it anyway. Nonetheless there was the 15% deposit bonus that would cover the expense anyway.
But after completed the final step I got this notification:
Quote:Perfect! We are reviewing your withdrawal and getting it ready to send to your bitcoin wallet.
Expected date: 09/11/2017
At first I thought "Oh,
, I won't make it before the promo ends".. but less than 10 minutes later I received an email from Payza stating that the transaction was completed.
But then another email popped up in my mailbox from coinpayments.net.. stating that there was an incomplete transaction..
The balance remaining showed 0.001 BTC which was the amount of the fee.. so I had to send an additional 0.001 BTC to the given address in order for it to be completed.
I went back to my Payza account to send the additional amount and realized that it would mean another 0.001 BTC fee..
And I had less than 0.002 left in my BTC balance to complete it anyway..
So.. I now have to wait until the expiration of the confirmation time in order to claim my funds back and re-send them the payment.
What have we learnt?
When it comes to Bitcoin payments through Payza the buyer pays the fee..