Introducing Prepaid BlockBee Fees: Save Up to 50% on Blockchain Fees!

We’re excited to roll out a new feature that will help you save on transaction costs—Prepaid BlockBee Fees! With this feature, you can now prepay BlockBee’s fees in the form of credits, which helps you reduce your overall transaction costs, saving you up to 50% on blockchain fees.

How It Works

Previously, BlockBee’s fees were deducted directly from the transaction being processed. This resulted in higher blockchain fees, as forwarding the funds required two transactions: one to send the funds to you, and another to cover our fee.

With the new prepaid fees option, you can now prepay BlockBee’s fees using credits. 1 credit = 1 USD, and you can deposit credits into your account at any time. This allows you to avoid an additional transaction to cover BlockBee’s fees, effectively reducing your total transaction cost and saving you up to 50% on blockchain fees (paid to the blockchain).

Key Benefits

• Save up to 50% on blockchain fees: By prepaying BlockBee’s fees, you reduce the overall cost of your transactions, including blockchain fees.
• Flexible credit deposits: You can deposit credits at any time, and the balance will be specific to each Profile you create on BlockBee.
• No extra transactions for BlockBee’s fees: Prepaying your fees eliminates the need for an additional transaction to cover BlockBee’s fees.
• Optional feature: The use of prepaid fees is completely optional. You can still choose to have fees deducted from the transaction as usual.

How the System Works

The prepaid fee system uses credits from your balance to cover BlockBee’s fees and, in the case of tokens, both BlockBee’s and blockchain fees. If your prepaid fee balance is exhausted, the system will revert to the default process, deducting both BlockBee’s fees and blockchain fees directly from the transaction, as it did previously.

Here are some examples to clarify:

• For transactions involving native tokens (e.g., BTC, LTC, BCH, ETH, BNB, TRX, etc.), the blockchain fees will still be deducted directly from the transaction itself. However, BlockBee’s service fee will be deducted from your prepaid fee balance. For example, if you send 0.01 BTC, the blockchain fee is taken from the 0.01 BTC sent, while BlockBee’s fee is covered using your prepaid balance.
• For token transactions (e.g., USDT, USDC, SHIB, etc.), both BlockBee’s service fee and the blockchain fees will be deducted entirely from your prepaid fee balance. This ensures that the full transaction amount reaches the recipient. For example, if 100 USDT are sent, the recipient will receive the full 100 USDT, while the fees (both BlockBee’s and the blockchain fees) are deducted from your prepaid balance.

Important Notes

• Profile-Specific Credit Balances: Each Profile has its own credit balance, allowing you to manage credits for different profiles independently.
• No Refunds for Unused Credits: BlockBee does not offer refunds for unused or unspent credits, so please plan accordingly before purchasing credits.
• Optional Usage: You are not required to use prepaid fees; this is an entirely optional feature to help you save on fees.

By prepaying BlockBee’s fees, you can save both on our service fees and on blockchain fees, making the entire process more cost-effective and efficient.

We’re excited for you to start using this feature and save on transaction costs! Let us know what you think and feel free to reach out with any questions.