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Author Topic: Xapo will start charging a fee to receive transactions  (Read 3816 times)
onlinedragon
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January 19, 2017, 02:09:42 PM
 #1

Yesterday I noticed for the first time that XAPO will start charging a fee for incoming BTC transactions. Bad news for the people who used XAPO also for receiving micro transactions. All transactions lower than BTC 0.00030942 will have to pay this fee.



Bitcoin Transaction Fees:


Wallet:


Vault:



Read more:
https://in.xapo.com/fees/

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January 19, 2017, 02:23:40 PM
 #2

Xapo must get income from their service if they want be survive on their business,
although it is become bad news for costumer's xapo because as you said
many people who receive small amount of transactions ( usually bitcoins from faucets website)
but there are no other choice for xapo keeps alive and they starts charging fees is normal.
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January 19, 2017, 03:43:55 PM
 #3

t was already in my mind that one day xapo will start charging a fees when they will get established their business/wallet as none of the business can survive without collecting any fees. With fees they will be the same as other wallets so their competition will be more stricter with other wallets so they will then need more hard work for their business.

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January 19, 2017, 03:45:36 PM
 #4

It is become very bad news for Xapo users who mainly using xapo just for receiving micro amount of transactions (where all transactins are made without cost).There are many costumer's who does not like to fee any amount for a transactions.As a result,Xapo will be faced temporary problem after little break come back strongly because in reality they need some service fees to maintain their business.

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January 19, 2017, 03:48:46 PM
 #5

Xapo must get income from their service if they want be survive on their business,
although it is become bad news for costumer's xapo because as you said
many people who receive small amount of transactions ( usually bitcoins from faucets website)
but there are no other choice for xapo keeps alive and they starts charging fees is normal.

yes, They need more fees to maintain their business. If you have 1 bitcoin transaction, the fee is not high as credit card payment.

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January 19, 2017, 05:55:18 PM
 #6

Not fun news :/ . Many people use Xapo for their free transactions. And I think many of these transactions is small.
I think that next step of Xapo will be to take fee for sending small transactions. And finall step will be to take fees for all transactions, no matter it's small or big.

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January 19, 2017, 07:38:00 PM
 #7

Really!! One of free transaction wallet has gone. I think Coinbase also start transactions fees for theire customar.If really its happen, there will be no more transaction free wallet.

Its a bad news near to Xapo wallet user that they are taking cherge for receving .next time they will take sending fee from user. one day there will be no more free transaction wallet Sad Sad

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January 19, 2017, 07:39:27 PM
 #8

ussualy online wallet can charge fee not receive transaction
charge fee only sending bitcoin
i think is very bad service, if every receive can get fee
much people xapo client can gone

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January 19, 2017, 07:44:53 PM
 #9

Xapo must get income from their service if they want be survive on their business,
although it is become bad news for costumer's xapo because as you said
many people who receive small amount of transactions ( usually bitcoins from faucets website)
but there are no other choice for xapo keeps alive and they starts charging fees is normal.

I agree with you whether they start now or later, they will still need to charge money for their service even when someone told or I read it somewhere that to transfer on Xapo is even free I was surprised and was wondering how they generate money to pay for the maintenance of their infrastructures or the miners like blockchain does but its all good as I dont see the fee not affordable, the issue i will have is if they still want to add another charge on transfer of bitcoin then I see people trooping out of Xapo. But what is not clear is that will it be charge on the receiver or the sender?

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January 19, 2017, 07:45:41 PM
 #10

0.00020658 fee is too high if you need to send micro transactions. I've been using xapo for all transactions and hence don't mind the limit but for micro transactions, I would need to rely on coinbase unless they too change their terms. It's sad that they decided to charge users but still the limit of 0.00030987 btc is fine. If they start charging for every transaction, I'll stop using their services. Better rely on blockchain then instead of xapo that asked me to verify my wallet just to charge for the transactions.

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January 19, 2017, 11:09:58 PM
 #11

Well, that's good to hear if they will do it, because as far as I know all services are in need fee to make their company/business/services survive longer and it looks suspicious why they are doing it in the past for free of charge. And BTW 0.00020645 fee looks too high, are they serious about this? 0.0003097 above received transaction is 0 fee but 0.00020645 and 0.0003097 has a fee of 0.00020645, hmmm, maybe to limit the micro transactions they received from faucets.

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January 20, 2017, 04:10:00 AM
 #12

This is bad news, I do not like the presence of a fee which I feel is quite large. Xapo is second after Coinbase web wallet, I'll gradually to look for other services that are free, though I will still be using xapo.
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January 20, 2017, 04:11:49 AM
 #13

Didn't thought that there will be actually a fee to jut receie a transaction. I thought fee is aonly applied for sending the transaction.
This is bad news, I do not like the presence of a fee which I feel is quite large. Xapo is second after Coinbase web wallet, I'll gradually to look for other services that are free, though I will still be using xapo.
You can use blockchain for a web wallet mate. It only charge you 10k satoshi for fee.
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January 20, 2017, 04:27:44 AM
 #14

Really!! One of free transaction wallet has gone. I think Coinbase also start transactions fees for theire customar.If really its happen, there will be no more transaction free wallet.

Its a bad news near to Xapo wallet user that they are taking cherge for receving .next time they will take sending fee from user. one day there will be no more free transaction wallet Sad Sad
I'm not sure how these websites can run for so long without charging such fees, because in general do not charge this and keep the service with good quality is something unfeasible. Such fees are what developers earn to maintain the stability and quality of the services.

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January 20, 2017, 06:10:44 AM
 #15

Xapo must get income from their service if they want be survive on their business,
although it is become bad news for costumer's xapo because as you said
many people who receive small amount of transactions ( usually bitcoins from faucets website)
but there are no other choice for xapo keeps alive and they starts charging fees is normal.

I agree with you whether they start now or later, they will still need to charge money for their service even when someone told or I read it somewhere that to transfer on Xapo is even free I was surprised and was wondering how they generate money to pay for the maintenance of their infrastructures or the miners like blockchain does but its all good as I dont see the fee not affordable, the issue i will have is if they still want to add another charge on transfer of bitcoin then I see people trooping out of Xapo. But what is not clear is that will it be charge on the receiver or the sender?
Xapo applied free fees service in the early is just looking for the costumers (and they pay the cost)
because it is new services bitcoin's wallet service and there are no many people who use it
right now many people who use xapo's wallet and today is time for them to taking profits.
That is good strategy on bitcoin's wallets business and I agree with you if the xapo are greed want to add another fees
their costumers will be disappear because of the fees is too expensive.
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January 20, 2017, 10:59:01 AM
 #16

This is bad news, I do not like the presence of a fee which I feel is quite large.
Yeah its really bad news to those who don't like to pay every transactions they made.
Xapo is second after Coinbase web wallet, I'll gradually to look for other services that are free, though I will still be using xapo
Yes that's true and in another side of the story Xapo is also the second platform that used to have many issues of closing accounts. And the reason why I don't like them is because of this free of TX fee like coinbase, it looks more doubtful for their service.

You can use blockchain for a web wallet mate. It only charge you 10k satoshi for fee.
I don't think he will use blockchain as it faced so many wallet issues this days, only coinbase is his only choice if he will not continue using xapo.

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January 20, 2017, 11:04:32 AM
 #17

You can use blockchain for a web wallet mate. It only charge you 10k satoshi for fee.
I don't think he will use blockchain as it faced so many wallet issues this days, only coinbase is his only choice if he will not continue using xapo.
Not true. There are other web wallets besides coinbase like coin.space, bitgo, greenaddress (I personally like this one as well It worked fine on me before not sure if thwy have issues now but they also have a desktop and android wallet version)
You can see all available wallets here:  https://bitcoin.org/en/choose-your-wallet
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January 20, 2017, 11:12:45 AM
 #18

Incoming dust increases their send fees (increasing the transaction size) and it hurts the business, so it's a normal move.

While it is a bad news for the ones receiving dust from non-xapo faucets into xapo, it's not a big issue if you look at the numbers.
First of all, from what I see it's about the incoming dust. Even the faucets started to send out bigger amounts than that.
I feel that it's a very small number of affected users and it's not a big issue actually.

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January 20, 2017, 03:22:59 PM
 #19

Not fun news :/ . Many people use Xapo for their free transactions. And I think many of these transactions is small.
I think that next step of Xapo will be to take fee for sending small transactions. And finall step will be to take fees for all transactions, no matter it's small or big.
I am also thing so. It is their first step to check the affect of imposing it on their business and if they find no any bad affect on their business they will definitely start to impose fees on the sending of money too.

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January 20, 2017, 04:00:10 PM
 #20

As much as I hate that people will lose money with this change I think it is good move from business point of view. I would like to see how many bitcoins in fees Xapo paid total.
I bet it is not small sum of money "wasted on fees". They realized that "no fee" policy cannot be maintained taking into account their F2U business model. About time.


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