Why xapo transaction fees are too high? The current standard fee is around 0.00222938 BTC which it mean 6$.
https://in.xapo.com/fees/I don't know why it's too high like that. because according to
https://bitcoinfees.21.co/ We can see: The fastest and cheapest transaction fee is currently 400 satoshis/byte, which it mean 90,400 satoshis.
Do you own your private key using Xapo (sound like an outright copycat on Zappos, I might as well open up a company called Mikosov or Epol or Emizon)?
Don't use Xapo.
I remember trying to use it back in 2014 and the wallet stop me from withdrawing my savings unless I send them my entire DNA (ID, driver's license, bank statement, utility bill, etc) for verification. Luckily I got only like 80000 satoshi inside. Imagine if I have a much bigger amount saved, I would be screwed. They have no right and no obligation to collect any personal information by law. And their service is just 3rd party, which means you don't own what you have saved in its wallet. Don't be stupid. Stay away from Xapo.
Your reply is far away from what OP is concerned.
He is not asking us for our personal experience in XAPO disregarding the transaction fees. OP is talking about the $6 transaction fees applied as standard fee. Honestly most of the exchanges have higher transaction fees and I think it can even goes up to $10 while bitcoin price is increasing due to demand. And I don't think XAPO will benefit to this since if you will look at your transaction id, the fees are really applied. All my transactions are being fair. Just don't know about the others if the fees are really applied to their transactions.
Why xapo transaction fees are too high? The current standard fee is around 0.00222938 BTC which it mean 6$.
https://in.xapo.com/fees/I don't know why it's too high like that. because according to
https://bitcoinfees.21.co/ We can see: The fastest and cheapest transaction fee is currently 400 satoshis/byte, which it mean 90,400 satoshis.
Case is not alone with Xapo. I have observed many other wallets like BTC.com etc are charging compulsive fees over and above network fees. I guess problem is not with these wallets but with us who are using these web wallets and giving them ultimate power to control our Bitcoin. Better quit web wallets!
Even users are not using web wallets, othes wallets are having high fees too (e.g Mycelium) so what's the difference of them about our concern to fees? All users are affected here no matter the wallet is used. If you will setup a low fees then goodluck on how long it will confirmed.
