How come?

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Avatar for Tacel
Written by
3 years ago

i received a notification saying like this

You've got a payment from the read.cash fund: $ 0.0216 

But why is it in my wallet is only 0.01 dollar? Can anyone explain why? Thanks

1
$ 0.00

Comments

Read the FAQ - there are no dollars on site, only Bitcoin Cash. US dollar amounts are shown at the current exchange rate for convenience only. So, you got a notification about $0.0216 , but in reality you got $0.0216 / $257 = 0.000084 BCH or so (where $257 was approximate exchange rate in the morning). Now the exchange rate (which you can see here https://coinmarketcap.com/) is about $245, so you still have approximately 0.000084 BCH, but now it is valued at $245 = 0.000084*245 ~ $0.02. But to send this money anywhere you need to pay the Bitcoin Cash network about $0.001 (1/10th of a cent), so we subtract that from the amount we display (since you won't be able to send $0.02, you'll only be able to send $0.019 - but we display only cents, so you see $0.01).

Put your mouse over the number and you'll see exactly how much BCH you have. That doesn't change. To send a transaction you need to pay about 0.00000300 BCH.

This is all explained in detail in the FAQ: https://read.cash/@Read.Cash/what-is-readcash-faq-7b0bfcfc#why-do-i-see-usd-amounts-if-you-tell-me-that-my-wallet-is-in-bitcoin-cash (two questions there)

$ 0.00
3 years ago