Starting with version 2.6.0 or newer of the BankSocial app, the BankSocial team introduced a feature that removes the BSL transfer tax under specific conditions when sending tokens from the BankSocial Wallet.
When the Transfer Tax Is Removed
The transfer must originate from the BankSocial Wallet.
Transfers over $5 USD are tax-free.
Transfers under $5 USD will still incur the standard 4% transfer fee.
This allows users to move BSL tokens more efficiently without losing value on qualifying transfers.
When the Transfer Tax Still Applies
If BSL tokens are sent from an external wallet to the BankSocial Wallet, the 4% transfer tax still applies.
To avoid this fee, consider importing your external wallet directly into the BankSocial app so the transfer originates from the BankSocial Wallet.
Important Notes
The 4% tax on buying and selling BSL tokens has NOT changed.
This update applies only to wallet-to-wallet transfers, not trades.
App version 2.6.0 or newer is required to use this feature.