NEW YORK, NY – APRIL 2: The brass Charging Bull sculpture stands near the Financial District April 2, 2018 in New York City. Also known as the Wall Street Bull, the art work weighing three-and-a half-tons was made by artist Arturo Di Modica in 1989. (Photo by Robert Nickelsberg/Getty Images)

Bull Bitcoin, based in Montreal, Quebec, have lowered fees and increased buying thresholds to $10,000,000, in light of the COVID-19 epidemic and in preparation for the Bitcoin halving. The ‘Bitcoin Maximalist’ announced on their blog yesterday. 

In the blog post, CEO and Founder Francis Pouliot, talked about the unprecedented economic and unemployment crisis. 

“It is more crucial than ever for Canadians to prepare for the inevitable collapse of Canada’s monetary system by buying Bitcoin. This has meant an increase in demand for our services.”

That is why, as of today, they have removed all fees on electronic and wire transfers as well as debit payments. For Canadian users, that use Bylls to pay bills with Bitcoin, they have slashed the fees in half. They have also removed Proof-of-Residence requirements and KYC thresholds have been simplified. 

In an article published by Decrypt, Francis Pouliot stated that March has been one of their busiest months. This is both in regards to signups and Bitcoin purchases.

In regards to the halving, he states in the article, that he is surprised at how, “not many people are aware that the production of new bitcoins actually decreases over time,” Pouliot said. “Having reduced the fees and increased the limits definitely puts us in a good position for the influx of new users.”

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