Understanding the Minimum Payment Threshold of 0.01 ETH
Are you looking to receive payments as low as 0.01 ETH? If so, you’ve come to the right place. In this article, we’ll delve into the intricacies of the minimum payment threshold and how you can ensure you receive payments starting from just 0.01 ETH.
What is the Minimum Payment Threshold?
The minimum payment threshold of 0.01 ETH is a rule set by certain platforms and services to ensure that transactions are processed efficiently and securely. This threshold is designed to prevent spam and low-value transactions that could potentially burden the network.
Meeting the Requirements
Here are the key requirements you need to meet in order to receive payments starting from 0.01 ETH:
- Your account must be active in the mining pool for at least 14 days.
- Your account should have been created within the last 2 weeks.
- Your last payment should have been made more than 2 weeks ago, and your account balance should be equal to or greater than 0.01 ETH.
It’s important to note that you don’t need to be actively mining to receive payments. The platform will process payments based on the regular payment rules, with payments starting from 0.05 ETH and then gradually processing smaller payments.
Payment Schedule
Payments are made once a day, between UTC 6:00 and 12:00 (or 2:00 PM to 8:00 PM in Beijing time), provided you have reached the minimum payment amount by the cutoff time. This ensures that your payments are processed efficiently and securely.
Transaction Fees
As with any transaction on the blockchain, there are gas fees associated with receiving payments. Currently, the gas fee is around 50 gWei, which can vary depending on network congestion. To address this, the platform has set a fixed gas fee of 1 gWei for all mining pool expenses, ensuring that the transaction fees are included in the mining process.
Gas Limit and Payment Cutoff
To minimize the impact on your income, the platform has set a minimum gas limit of 21,000 for other wallets and 45,000 for smart contracts. All transactions are due by 6:00 UTC (or 2:00 PM in Beijing time), and payments are confirmed within 6 hours after the cutoff time. This ensures that you receive your rewards promptly.
Firecoin Withdrawal Fees
When withdrawing ETH from Firecoin, you’ll need to pay a withdrawal fee of 0.001 ETH. This fee is used to compensate the miners for verifying and processing your transaction. You can choose to pay the suggested fee or customize it based on your needs.
| Withdrawal Amount | Minimum Withdrawal Fee | Maximum Withdrawal Fee |
|---|---|---|
| 0.01 ETH and above | 0.001 ETH | 0.001 ETH |
| 0.1 ETH and above | 0.01 ETH | 0.01 ETH |
| 1 ETH and above | 0.1 ETH | 0.1 ETH |
Ben.eth’s Meme Coin Pre-Sale
Ben.eth, a well-known figure in the cryptocurrency community, has launched a pre-sale for his latest meme coin, “LOYAL.” The minimum pre-purchase amount for this coin is 0.001 ETH, and all pre-purchasers will share a 33% allocation of the total supply.
Ben.eth has also announced that another influential figure, Bitboy, will be joining the team for this project. The pre-sale for LOYAL has already raised over 10,000 ETH, and the cutoff time for pre-purchases is set for May 30th at 14:59 Beijing time.
ETH Mining Hash Rate
When it comes to mining ETH, calculating your hash rate is crucial to determine your potential earnings. The hash rate is the number of hashes your mining rig can calculate per second, and it’s influenced by the hardware you’re using
