Xapo fees is too high. | Bitcointalksearch.org

jossiel

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Quote from: newwest on January 31, 2018, 10:29:37 AM

It is now a matter of time where paying high fees for transferring within different wallets will go away now. Once people starts using the lightning network than automatically the network load on mempool will reduce drastically and thus transferring will be done at lower fees.

Well see it when lightning network has been implemented but the question is how will xapo take the adoption?

The fees now are quite lowered at 190sats/byte while bitcoin is also getting lower but before when the fees are even cheap xapo did took their initiative of taking up their own fee.

And that can happen too even lightning network is activated.

chris200x9

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Quote from: panjul07 on January 31, 2018, 08:33:20 AM

Quote from: chris200x9 on January 31, 2018, 05:02:48 AM

Quote from: panjul07 on January 30, 2018, 10:54:26 AM

Quote from: msmaika1 on January 30, 2018, 04:47:58 AM

fee so high, hope they will fix Sad

Based on their fees page, the standard fee is around 10k satoshi ($1+) and the high priority is around 35k satoshi ($3.7). I do not think it is so high, it is normal IMO. If we compare it with https://bitcoinfees.info then xapo is a bit cheaper.
You should check their latest fees first here https://in.xapo.com/fees/

Based on that fee page the standard fee is around 53K+ not 10K. I also logged into my account and verified just now the standard fee is around 55K satoshi and which is around 5.5$. Which is still not that high if you send a big amount.

But last month when bitcoin network was crowded that time their standard fee was around $100. Now bitcoin prices also came down so we see less fee in terms of dollars.

Dont you know that their fee fluctuates depending on the blockchain network? I said it is 10k sat because at the time I wrote it, that's what I see on their fees page. That's why I ask him to check the fees page to make sure about the amount charged for the fee as it is continuously changing.
Are you sure that it was $100 last month? My biggest amount that I need to pay last month is 0.003btc (around 950sat/byte), if the price was 18k then my fee was around $55.

Yes, at one time it was even slightly more than $100.

I know their fee always fluctuates but never expected that their transaction fee will go to so less and that's why I was a bit shocked after looking at 10K sat fee for the transaction from XAPO wallet.

newwest

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Quote from: Macadonian on December 27, 2017, 02:32:14 PM

Quote from: greatfariola on December 26, 2017, 05:45:53 PM

I think it's quote common in all wallets. Fees are high because of the high congestion in the mem pool.

It's common to pay a higher fee right now due to the congestion but not as high as xapo is requesting you to send. They aren't giving you the correct fees. You can send much lower and get it confirmed in an acceptable time.

It is now a matter of time where paying high fees for transferring within different wallets will go away now. Once people starts using the lightning network than automatically the network load on mempool will reduce drastically and thus transferring will be done at lower fees.

panjul07

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Quote from: chris200x9 on January 31, 2018, 05:02:48 AM

Quote from: panjul07 on January 30, 2018, 10:54:26 AM

Quote from: msmaika1 on January 30, 2018, 04:47:58 AM

fee so high, hope they will fix Sad

Based on their fees page, the standard fee is around 10k satoshi ($1+) and the high priority is around 35k satoshi ($3.7). I do not think it is so high, it is normal IMO. If we compare it with https://bitcoinfees.info then xapo is a bit cheaper.
You should check their latest fees first here https://in.xapo.com/fees/

Based on that fee page the standard fee is around 53K+ not 10K. I also logged into my account and verified just now the standard fee is around 55K satoshi and which is around 5.5$. Which is still not that high if you send a big amount.

But last month when bitcoin network was crowded that time their standard fee was around $100. Now bitcoin prices also came down so we see less fee in terms of dollars.

Dont you know that their fee fluctuates depending on the blockchain network? I said it is 10k sat because at the time I wrote it, that's what I see on their fees page. That's why I ask him to check the fees page to make sure about the amount charged for the fee as it is continuously changing.
Are you sure that it was $100 last month? My biggest amount that I need to pay last month is 0.003btc (around 950sat/byte), if the price was 18k then my fee was around $55.

1Referee

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Quote from: chris200x9 on January 31, 2018, 05:02:48 AM

But last month when bitcoin network was crowded that time their standard fee was around $100. Now bitcoin prices also came down so we see less fee in terms of dollars.

Huh? Bitcoin's highest network fee was just over 0.0025BTC which basically means like $50-$60 in fiat at the highest point, so I'm not sure whether you have miscalculated something, or that Xapo itself thought it would need to ask for that much in fees. Either way, good thing is that they make use of dynamic fees that change based on how congested the network is. It should prevent people from having any sort of legitimate complaints towards Xapo regarding network fees. Xapo however is infested with small scale users and faucet/bounty farmers (especially in their free external transactions period), so these unfunded complaints will likely remain chasing after Xapo for ever.

chris200x9

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Quote from: panjul07 on January 30, 2018, 10:54:26 AM

Quote from: msmaika1 on January 30, 2018, 04:47:58 AM

fee so high, hope they will fix Sad

Based on their fees page, the standard fee is around 10k satoshi ($1+) and the high priority is around 35k satoshi ($3.7). I do not think it is so high, it is normal IMO. If we compare it with https://bitcoinfees.info then xapo is a bit cheaper.
You should check their latest fees first here https://in.xapo.com/fees/

Based on that fee page the standard fee is around 53K+ not 10K. I also logged into my account and verified just now the standard fee is around 55K satoshi and which is around 5.5$. Which is still not that high if you send a big amount.

But last month when bitcoin network was crowded that time their standard fee was around $100. Now bitcoin prices also came down so we see less fee in terms of dollars.

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Quote from: Sate Jamu on January 30, 2018, 10:36:01 AM

I do not find this, when I want to send bitcoin there are only 2 cost options that is standard and priority, and I think Xapo cost is still reasonable, if we send bitcoin in large quantity then better and safer to use fee higher than low fee but need long time.

Xapo is still reasonable for those people that has a lot of bitcoins to hold and enjoying their other service not only for being a wallet. What's good news now is that the fees base on https://bitcoinfees.earn.com/ are now down to 200 sats/byte.

Quote from: panjul07 on January 30, 2018, 10:54:26 AM

Based on their fees page, the standard fee is around 10k satoshi ($1+) and the high priority is around 35k satoshi ($3.7). I do not think it is so high, it is normal IMO. If we compare it with https://bitcoinfees.info then xapo is a bit cheaper.
You should check their latest fees first here https://in.xapo.com/fees/

$1 per transaction at standard priority is an affordable one while with high priority its high at $35.

panjul07

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Quote from: msmaika1 on January 30, 2018, 04:47:58 AM

fee so high, hope they will fix Sad

Based on their fees page, the standard fee is around 10k satoshi ($1+) and the high priority is around 35k satoshi ($3.7). I do not think it is so high, it is normal IMO. If we compare it with https://bitcoinfees.info then xapo is a bit cheaper.
You should check their latest fees first here https://in.xapo.com/fees/

Sate Jamu

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Quote from: Taki on December 29, 2017, 04:00:08 PM

I have found a way to escape all those high fees. Pay the lowest fee as possible and user bitcoin transaction accelerator for free, there are a lot of suggestions on Services section. In another case the transaction will take few days. Wink

I do not find this, when I want to send bitcoin there are only 2 cost options that is standard and priority, and I think Xapo cost is still reasonable, if we send bitcoin in large quantity then better and safer to use fee higher than low fee but need long time.

msmaika1

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fee so high, hope they will fix Sad

LTU_btc

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Quote from: Taki on December 29, 2017, 04:00:08 PM

I have found a way to escape all those high fees. Pay the lowest fee as possible and user bitcoin transaction accelerator for free, there are a lot of suggestions on Services section. In another case the transaction will take few days. Wink

That method wouldn't work on Xapo. You can't customize fees on Xapo, you can only choose between standard fee (which is way to big) and even bigger fee if you need to make high priority transaction.
No I have few bucks still left on Xapo, and I don't have idea how to send it out from Xapo :/
And why people are still using Xapo while there are enough much better wallets???

Taki

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I have found a way to escape all those high fees. Pay the lowest fee as possible and user bitcoin transaction accelerator for free, there are a lot of suggestions on Services section. In another case the transaction will take few days. Wink

Macadonian

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Quote from: greatfariola on December 26, 2017, 05:45:53 PM

I think it's quote common in all wallets. Fees are high because of the high congestion in the mem pool.

It's common to pay a higher fee right now due to the congestion but not as high as xapo is requesting you to send. They aren't giving you the correct fees. You can send much lower and get it confirmed in an acceptable time.

greatfariola

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I think it's quote common in all wallets. Fees are high because of the high congestion in the mem pool.

massziri

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WAW! I have been smaked too, this is not natural, I wanted to buy 0.0032 BTC of NEM from Changelly and XAPO said that they charging me 0.0038 BTC fees, hahahaha, wtf!!!??? Is this a dream or what ? so I should have a lot of Bitcoins to be able to do something here with this scammers ? I didn't know that before and I just have a small amount of 0.05 BTC, I worked so so hard for it within years!!! really Disgusting!!!

drmarcobelli

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They'll probably update to segwit in 1st Q of 2018.
So, lower fees, maybe.

Pujangga

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Quote from: chris200x9 on December 24, 2017, 02:30:49 AM

Quote from: Butters on December 24, 2017, 12:00:55 AM

I am completely disgusted with this damned company XAPO

Trying to withdraw 0.02927776 btc, and they are charging me as "mining fee" 0.005376 btc !

Over 75+ U$d in mining fees, motherfuckers!

Just I checked to withdraw funds and the standard fee has been increased to 0.006675 BTC which is almost equal to $100. If you choose high priority option then you need to pay even higher than that amount. I understood currently a lot of pending transaction in blockchain but these fees are too much and no way it is good for smaller amount transactions.

Yes it's true, and I think it's unnatural, the transaction costs up to more than $ 100, and I'm happy because I've withdraw all the bitcoins from Xapo a week ago when shipping costs around 0.0025 btc, whereas with blockchain it costs only about 0.0002 btc or only 10%.

chris200x9

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Quote from: Butters on December 24, 2017, 12:00:55 AM

I am completely disgusted with this damned company XAPO

Trying to withdraw 0.02927776 btc, and they are charging me as "mining fee" 0.005376 btc !

Over 75+ U$d in mining fees, motherfuckers!

Just I checked to withdraw funds and the standard fee has been increased to 0.006675 BTC which is almost equal to $100. If you choose high priority option then you need to pay even higher than that amount. I understood currently a lot of pending transaction in blockchain but these fees are too much and no way it is good for smaller amount transactions.

Butters

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I am completely disgusted with this damned company XAPO

Trying to withdraw 0.02927776 btc, and they are charging me as "mining fee" 0.005376 btc !

Over 75+ U$d in mining fees, motherfuckers!

sunsilk

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Quote from: ericmalik on December 21, 2017, 07:02:36 AM

I have stopped using Xapo as a bitcoin wallet .Though their fee structure provides for both standard priority fee and high priority fee and they say the fee doesn't go to them but I doubt if they don't keep some fraction of it plus the fee is applied on incoming transactions now.

Maybe they are telling the truth or maybe not. It's their own rule and they can do whatever they want when it comes to ruling out on what's going to be the best for their company.

We can't blame them if they had to implement this early and look on where are we now, every wallet that we use is charging high fees so there's no exemption to this incident.

Still waiting for them to modify their fee structure so that I can enjoy using them again.

Topic: Xapo fees is too high. (Read 5082 times)