Crypto.com charging more than their listed fees ... (SCAM??)

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: dkbit98 on March 30, 2021, 02:30:52 PM

This can probably be even higher if Bitcoin mempool is full with unconfirmed transactions but I saw no reason for that in previous fee days.
https://crypto.com/exchange/document/fees-limits

That wouldn't be an excuse either, even if they don't batch payments and they would a 1 input two outputs transaction it would still be enough to pay close to 200sat/b even more f they are batching them with 50-100 outputs as most exchanges do.
But even if they would need to pay that sum they could simply state that in their ToS, they charge 0.0004 plus additional fees if x,y,z happens.

Too bad OP has chosen to open a topic, complain, and then never come back again providing a minimum of additional info, till something like that happened I tend to believe SFR10's scenario, the user looked at the tx fee and thought he was changed that, probably he realized this later, thus the silence afterwards.

Insanerman

sr. member

Activity: 1162

Merit: 450

Quote from: senseimartin007 on March 30, 2021, 02:02:27 PM

I just used Crypto.com to transfer some BTC to my wallet .. their fee shown on the app is 0.0004 BTC to send to my wallet address. I charged 0.00115736 BTC as per shown in my Trezor account - 3 times the amount. Not impressed. Contacted Crypto.com but of course they did not reply.

If crypto.com doesn't let you choose the speed and cost of your transaction, then don't use it especially if you will transact multiple times. Also, there are a lot of ways

AakZaki

legendary

Activity: 2338

Merit: 1084

zknodes.org

In general, the withdrawal fees on crypto.com are 0.0004BTC, but if the withdrawal fees are different and not suitable or have increased several times as you have experienced, you should report the problem. There might be some system error or something. The 0.001157 BTC withdrawal fee is too expensive. Crypto.com is not a scam, make sure first if there really is a new policy or a system error.

Theb

hero member

Activity: 1680

Merit: 655

They probably have hidden fees for their transaction since from what I have seen the fix .0004 BTC withdrawal fee is what they charge other fees such network fees and other commissions might not be inclusive of that charge which they probably should clarify in the first place. Its either an internal error or they are purposely hiding it so it doesn't discourage users to use their service. The complaints in reddit are left without any replies from crypto.com so we really don't know the exact reason why.

SFR10

legendary

Activity: 2968

Merit: 3406

Crypto Swap Exchange

Quote from: senseimartin007 on March 30, 2021, 02:02:27 PM

I just used Crypto.com to transfer some BTC to my wallet .. their fee shown on the app is 0.0004 BTC to send to my wallet address. I charged 0.00115736 BTC as per shown in my Trezor account - 3 times the amount.

I'm not one of their users but I think this might be just a misunderstanding from your side...

Was that amount shown as its transaction fee as opposed to a deduction from your own funds?
Did that transaction happen to have multiple outputs ^{[other amounts sent to other addresses]}?

- If the answer to the above two questions is "yes", then it's just a method that we call "transaction batching ^{[most platforms out there tend to combine multiple withdrawals into a single transaction so they could significantly save on fees]}."

Johnyz

full member

Activity: 2086

Merit: 193

This is totally unfair, because you proceed that transaction knowing that you’ll just pay small for the fees.
It looks like they are just estimating the total cost of every transaction, better to say the the fees will still depend on the market network, though this is not a scam but this is one way of deceiving people that the site is imposing a very cheap withdrawal fee.

Stedsm

legendary

Activity: 3052

Merit: 1273

The total transactions occurring on BTC network have gone way too high that some websites (especially exchanges) may now charge us dynamic fees instead of fixed ones. I believe that crypto is now becoming more and more a puppet of these centralized maniacs and they won't let you take your own BTC so easy now. It's like the big dogs (institutions) have now become Banks and are congesting the network so to make you pay even more higher to the miners, so the miners ultimately sell their BTC back to these institutions. This is how the cycle is going on. Wink

jossiel

hero member

Activity: 3150

Merit: 636

DGbet.fun - Crypto Sportsbook

Not a scam but usually disappointing when you're paying what's showed to you yet it has increased overtime.

But there must be an explanation why it happens from the side of crypto.com. Have you inquired to them why they've charged you more than the fee that has been visible when you requested for the fee?

It should be as is when you have withdrawn.

JeromeTash

legendary

Activity: 2324

Merit: 1258

Heisenberg

They are not scammers, but most of the services are unfair when charging a withdrawal fee.

Have you checked out your transaction ID to see if the 0.00115736 BTC was actually used as transaction fee?
Use this site to determine which exchange charges the best rates.

dkbit98

legendary

Activity: 2212

Merit: 7064

Quote from: senseimartin007 on March 30, 2021, 02:02:27 PM

I just used Crypto.com to transfer some BTC to my wallet .. their fee shown on the app is 0.0004 BTC to send to my wallet address. I charged 0.00115736 BTC as per shown in my Trezor account - 3 times the amount. Not impressed. Contacted Crypto.com but of course they did not reply.

They are probably not a scam and you would need to provide some proof for your statement, but I checked their website and they really claim that fee for withdrawing Bitcoin is 0.0004.
This can probably be even higher if Bitcoin mempool is full with unconfirmed transactions but I saw no reason for that in previous fee days.
https://crypto.com/exchange/document/fees-limits

Fatunad

sr. member

Activity: 2226

Merit: 347

Quote from: senseimartin007 on March 30, 2021, 02:02:27 PM

I just used Crypto.com to transfer some BTC to my wallet .. their fee shown on the app is 0.0004 BTC to send to my wallet address. I charged 0.00115736 BTC as per shown in my Trezor account - 3 times the amount. Not impressed. Contacted Crypto.com but of course they did not reply.

You arent the only ones having those fee complaints.

https://www.reddit.com/r/Crypto_com/comments/egxmht/the_hidden_fees_in_the_spread_are_absurd/
https://www.reddit.com/r/Crypto_com/comments/ev898w/cryptocom_fees_shock/
https://www.reddit.com/r/Crypto_com/comments/ccl4lc/cryptocom_monaco_has_substantially_higher_fees/

Better not to use it further more.There are other sites or platforms which are more worth than this one.

senseimartin007

newbie

Activity: 1

Merit: 0

I just used Crypto.com to transfer some BTC to my wallet .. their fee shown on the app is 0.0004 BTC to send to my wallet address. I charged 0.00115736 BTC as per shown in my Trezor account - 3 times the amount. Not impressed. Contacted Crypto.com but of course they did not reply.

Topic: Crypto.com charging more than their listed fees ... (SCAM??) (Read 152 times)