What to Do if Your Deposit is Less than $50 in Bitcoin.

Bitcoin has decreased 40% in value in the last month and now stands somewhat below $4,000.  Well, BitBoots (reviewed here) has a minimum deposit of $50 (in Bitcoin value).  So, this means that, if you invested with BitBoots a month ago with a Bitcoin amount equivalent to $50, your investment is no longer equal to the required minimum.  I would expect that, in a situation like this, BitBoots would be nice to their small investors and “grandfather” them into the system and continue to pay them earnings no matter what the value of Bitcoin might be.  However, no such luck.  Business is business and BitBoots isn’t going to do this and rather will stop the investor’s earnings in this situation.  Of course, the investor can add to his balance to bring it up to the required Bitcoin equivalent of $50 — or he can close his account.  This is all explained in a brief news update in the BitBoots website — which directs the investor to a further update in the Grailum website — the parent company of BitBoots.

Here’s the update from BitBoots:

Update of terms to coin holders

We have updated our terms for those of you who got stuck in the dropping coin marked price and are no longer able to sustain the minimum required balance of equality to $50 USD.

This solution will provide an option to either help you continue or return your initial coin deposit including earning balance in full.

For more details please visit our support forum here.

Best regards,
Grailum Limited
Grailum Lab Limited

Here’s the update from Grailum:

This only apply to coin deposit holders on bitboots.com.

Coins do drop in value from time to time, so if your initial coin deposit was equal to the minimum $50 USD and is now lower, than mean it’s below the range of the minimum $50 required and the plan stop accumulate the earnings until it rise again.

Once your coin balance reach the minimum equality of $50 the earnings will generate again, also the days left out while the coin price was low.

This leaves you with 3 options.

  1. You can wait until the coin price rise again and earnings return to normal including any left out past days.
  2. You can deposit an equal to the missing amount in same coin to reach the minimum level either by asking us to use your last earnings to increase the deposit balance or by sending the missing coins to an address we provide you.
  3. You can request we cancel your deposit and return initial deposit plus earnings on available on balance to you.

THIS CASE ONLY APPLY TO THOSE WHO’S INITIAL COIN DEPOSIT IS LOWER THAN THE EQUALITY OF MINIMUM REQUIRED $50 USD AND ARE UNABLE TO SUSTAIN REQUIRED MINIMUM BALANCE OR NO LONGER WISH TO WAIT COIN PRICE RISE.

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