FAQ: Why Can’t I Withdraw Less Than 1000CLM?

As our user-base continues to grow, we would like to address one of the most frequently asked questions posed by our users, which is why we have set a minimum withdrawal policy.

If you have registered as a CoinClaim user and have completed tasks and collected your CLM, you are able to withdraw your CLM and deposit it into a wallet of your choosing, but you will note that you can only withdraw amounts of 1000CLM or more. And it’s perfectly reasonable to wonder why. So we’d like to give you the best answer we can. The reasons behind this are threefold: Transaction fees, token value and security.

Firstly, as more and more people get involved with our project (as things stand, there are already more than 35000 of you), there’s bound to be a substantial number of people trading CLM and these transactions aren’t free. Sometimes a transaction can cost as much as $0.25 and by restricting withdrawals to people that have at least 1000CLM we will reduce those fees. Withdrawing 20 CLM, for example (valued at roughly $0.30 at the time of writing) at a transaction fee of $0.25 is simply not viable.

Secondly, with CLM already trading on two exchanges. We have to keep exchange liquidity and the value of the token in mind as we grow. Once the time comes for CLM to be listed on a larger exchange, this will no longer be a problem, but as we emerge from our beta launch and our token remains somewhat volatile, it will devalue our tokens if thousands of users rush to the exchange to sell and therefore nobody would benefit.

Finally, as is the case with all new technologies and systems, we do have some bugs to work out and, at this phase of our development, we have to remain aware of anybody looking to exploit our system. By setting a minimum withdrawal policy to 1000CLM, we are able to spend more time analyzing accounts to protect our business, as well as our company clients’, which in turn allows us to keep offering you bounties.

We are incredibly pleased about the rate at which CoinClaim is currently progressing and the smoothness with which our automated bounty system is operating and it is imperative to us that our users have a fulfilling experience and that our client companies are able to achieve their goals, but Rome wasn’t built in a day and we will be exercising extreme caution until we are certain that we have a platform that is completely safe from malicious users and a token that is stable in value. Our minimum withdrawal policy, we believe, will serve to ensure that CoinClaim continues to succeed in revolutionizing viral organic social media growth and we hope that our users continue to enjoy our platform and give us valuable feedback on matters such as this.