Xapo will start charging a fee to receive transactions

[GregH37]

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.

It is really a bad news for faucet users, Xapo was for a long time the best way to earn bitcoin from faucets and receive them directly to your wallet, and them applying these fees makes it even harder to earn from these faucets especially now since they are giving so little, it is not a big deal for the ones who are using large transaction like me but still it is bad news for the new users.

[1714054009]

1714054009

[1714054009]

1714054009

[coinplus]

It is really a bad news for faucet users, Xapo was for a long time the best way to earn bitcoin from faucets and receive them directly to your wallet

I believe it will not affect Xapo based faucet users as they are getting paid from another Xapo account only. The internal transfer within Xapo will not touch blockchain so that types of transactions will be complete free (and instant as usual).

Xapo's fee for out going transaction is an expected one but for incoming transaction is highly unexpected.

[Vikingr]

It is really a bad news for faucet users, Xapo was for a long time the best way to earn bitcoin from faucets and receive them directly to your wallet

I believe it will not affect Xapo based faucet users as they are getting paid from another Xapo account only. The internal transfer within Xapo will not touch blockchain so that types of transactions will be complete free (and instant as usual).

Xapo's fee for out going transaction is an expected one but for incoming transaction is highly unexpected.

But you may know that most people use faucetbox for earning bitcoins from faucet sites and that faucetbox use an external address for to send your bitcoins to your xapo address so those who will use faucetbox will be charged with that fees. But if they keep the threshold of their withdrawal at faucetbox as higher than the limit then they will get their bitcoin without any fees.

[LTU_btc]

It is really a bad news for faucet users, Xapo was for a long time the best way to earn bitcoin from faucets and receive them directly to your wallet

I believe it will not affect Xapo based faucet users as they are getting paid from another Xapo account only. The internal transfer within Xapo will not touch blockchain so that types of transactions will be complete free (and instant as usual).

Xapo's fee for out going transaction is an expected one but for incoming transaction is highly unexpected.

But you may know that most people use faucetbox for earning bitcoins from faucet sites and that faucetbox use an external address for to send your bitcoins to your xapo address so those who will use faucetbox will be charged with that fees. But if they keep the threshold of their withdrawal at faucetbox as higher than the limit then they will get their bitcoin without any fees.

Looks like you lived under rock in past months. Faucetbox service is already closed.
But your point about withdrawal is right. Users need to set higher withdrawal limit to avoid fees. The problem is that some faucets like 99bitcoins.com withdrawal limit is very low and can't be changed.

[winspiral]

It is really a bad news for faucet users, Xapo was for a long time the best way to earn bitcoin from faucets and receive them directly to your wallet

I believe it will not affect Xapo based faucet users as they are getting paid from another Xapo account only. The internal transfer within Xapo will not touch blockchain so that types of transactions will be complete free (and instant as usual).

Xapo's fee for out going transaction is an expected one but for incoming transaction is highly unexpected.

But you may know that most people use faucetbox for earning bitcoins from faucet sites and that faucetbox use an external address for to send your bitcoins to your xapo address so those who will use faucetbox will be charged with that fees. But if they keep the threshold of their withdrawal at faucetbox as higher than the limit then they will get their bitcoin without any fees.

Looks like you lived under rock in past months. Faucetbox service is already closed.
But your point about withdrawal is right. Users need to set higher withdrawal limit to avoid fees. The problem is that some faucets like 99bitcoins.com withdrawal limit is very low and can't be changed.

Xapo was for me a good way to allow low minimum payout...
Now I can not send low amount with more fees than the amount sent.
With low minimum withdraws,people have seen quickly that winspiral pays.
Now,I do not know how it will be...

[Victorycoin]

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.

Xapo is like any business entity out there to make profit, it is not a non-for-profit or charity organisation. So in the mist of rising network cost, which we are all aware of, restructuring the fees to cover the network fees ought not to be seen as a bad news, rather it is a good business strategy to reposition Xapo.  Besides fees are only applicable for transactions equivalent to 0.00030942 BTC or less from external address, more than 0.00030967 attracts zero fee.

[LTU_btc]

Today I understood that fees for receiver is nonsense. I understand that Xapo wants to get rid of dust transactions, but... Let's say, I have to send small payment which is lower than 30942 satoshi. Sender can't know which wallet receiver use. If he use Xapo, unfortunately he won't receive anything. Payment are sent, but nothing is received. And receiver can call me as scammer after that...

[bL4nkcode]

Today I understood that fees for receiver is nonsense. I understand that Xapo wants to get rid of dust transactions, but... Let's say, I have to send small payment which is lower than 30942 satoshi. Sender can't know which wallet receiver use. If he use Xapo, unfortunately he won't receive anything. Payment are sent, but nothing is received. And receiver can call me as scammer after that...

Yes, that is the most foolish part of this issue, and I can't argue with them because that is their business but it's too much already, maybe they're thinking that most bitcoin users use their service. So to those who are using faucets, better don't use xapo wallet (or whatever you call their service) if you want to receive those tiny transactions.

[Hazir]

Yes, that is the most foolish part of this issue, and I can't argue with them because that is their business but it's too much already, maybe they're thinking that most bitcoin users use their service. So to those who are using faucets, better don't use xapo wallet (or whatever you call their service) if you want to receive those tiny transactions.

At this day and age you shouldn't be using faucet in the first place. Collecting dust on your wallet is never good thing.
It is not that Xapo was the only wallet paying for transactions: Coinbase pays it for you, and their ToS is pretty similar to Xapo - mainly: you can't use wallet in conjunction with gambling services.

[Victorycoin]

Today I understood that fees for receiver is nonsense. I understand that Xapo wants to get rid of dust transactions, but... Let's say, I have to send small payment which is lower than 30942 satoshi. Sender can't know which wallet receiver use. If he use Xapo, unfortunately he won't receive anything. Payment are sent, but nothing is received. And receiver can call me as scammer after that...

Yes, that is the most foolish part of this issue, and I can't argue with them because that is their business but it's too much already, maybe they're thinking that most bitcoin users use their service. So to those who are using faucets, better don't use xapo wallet (or whatever you call their service) if you want to receive those tiny transactions.

I don't think the change was calculated to hamper those still interested in faucets or transacting in amounts less than 0.00030942 BTC, I see it rather as an attempt to discongest their network and strain on their facilities by encouraging people to save their tiny amounts in micro wallets, until they have good enough not to attract some fees, which is a common business practice.

[PokerFace3]

Yes, that is the most foolish part of this issue, and I can't argue with them because that is their business but it's too much already, maybe they're thinking that most bitcoin users use their service. So to those who are using faucets, better don't use xapo wallet (or whatever you call their service) if you want to receive those tiny transactions.

At this day and age you shouldn't be using faucet in the first place. Collecting dust on your wallet is never good thing.
It is not that Xapo was the only wallet paying for transactions: Coinbase pays it for you, and their ToS is pretty similar to Xapo - mainly: you can't use wallet in conjunction with gambling services.

Well as you said all the online wallets pays you the transaction fees for sending a small amount of bitcoin, and people used to exploit this, but now when they are going to charge fees for the small amount which new bitcoin users are getting from faucets is unfair, I think that they should charge fees on the people who are using like 2btc per transaction not the small guys.

[Victorycoin]

but now when they are going to charge fees for the small amount which new bitcoin users are getting from faucets is unfair, I think that they should charge fees on the people who are using like 2btc per transaction not the small guys.

I see your point, the rich should be made to pay more, but the reality on ground across all facets of life, seems to have suggested otherwise, so that what we have is the poor actually having to pay for the luxuries the rich enjoys. That is the kind of madness that is now a normality  with the society. 

[felicita]

haha what a sad news  ! if they really take fees for incoming transactions .
its the end of xapo i hope everyone will leave there service -.-
i also transfered my 2 BTC to another web walled -.-




kind regards

[BitHodler]

haha what a sad news  ! if they really take fees for incoming transactions .
its the end of xapo i hope everyone will leave there service -.-
i also transfered my 2 BTC to another web walled -.-




kind regards

You clearly don't know what's going on. Fees on incoming transactions only apply if the transaction value is lower than 0.00040095BTC. If your transaction value is higher than that amount, then there are no fees involved.

It's done done for several reasons. One of the reasons was that people were complaining about ultra low value transactions not being spendable due to pools ignoring these transactions.

It's a well needed action and it will definitely not be the end of Xapo. If there are people that don't agree with this new implementation, then they are of course free to hop over to a different wallet service (which you seem to have done).

[eaLiTy]

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

It is a matter of time that they will start charging users from February 15 for the transactions as the amount of money they are dispensing will be huge with the amount of users they have.They will charge only if the coins sends to them are lower.

Today I understood that fees for receiver is nonsense. I understand that Xapo wants to get rid of dust transactions, but... Let's say, I have to send small payment which is lower than 30942 satoshi. Sender can't know which wallet receiver use. If he use Xapo, unfortunately he won't receive anything. Payment are sent, but nothing is received. And receiver can call me as scammer after that...

If you are using xapo faucet then it is still free to receive dust amounts and the only issue is while sending and receiving dust amounts from other sources and with the recent delays in blockchain and the ever changing transaction fees it was a matter of time they starts charging for transaction .

[LTU_btc]

Today I understood that fees for receiver is nonsense. I understand that Xapo wants to get rid of dust transactions, but... Let's say, I have to send small payment which is lower than 30942 satoshi. Sender can't know which wallet receiver use. If he use Xapo, unfortunately he won't receive anything. Payment are sent, but nothing is received. And receiver can call me as scammer after that...

If you are using xapo faucet then it is still free to receive dust amounts and the only issue is while sending and receiving dust amounts from other sources and with the recent delays in blockchain and the ever changing transaction fees it was a matter of time they starts charging for transaction .

I'm not talking about faucets. I only want to say that it will be impossible to send small transactions to Xapo users. And yes, small transactions is really lroblematic these days. But I don't know any wallets which have fees for receiver. I would understand if there would be fees only for sending bitcoins, not receiving.
[/quote]

[wuvdoll]

haha what a sad news  ! if they really take fees for incoming transactions .
its the end of xapo i hope everyone will leave there service -.-
i also transfered my 2 BTC to another web walled -.-
kind regards

It can not be end of Xapo as it may affect only those who are going to be affected by this are the new bitcoin users who earn from faucets. If the amount of bitcoin is greater than 30967 satoshi will not incur any fees.
I guess most other bitcoiners will continue their love on Xapo, hopefully.

[Bitcoin0916]

I think it doesn't matter, I've never had a transaction with xapo for receive and send less than 0,005, most important is security. I think xapo is kind of a good wallet because there are features of the VAULT and was listed on the official site bitcoin.org.

[winspiral]

haha what a sad news  ! if they really take fees for incoming transactions .
its the end of xapo i hope everyone will leave there service -.-
i also transfered my 2 BTC to another web walled -.-
kind regards

It can not be end of Xapo as it may affect only those who are going to be affected by this are the new bitcoin users who earn from faucets. If the amount of bitcoin is greater than 30967 satoshi will not incur any fees.
I guess most other bitcoiners will continue their love on Xapo, hopefully.

I see that you have not read the new xapo rules...
this is the problem on this forum...people say wrong things and it is the wrong things who are then in brain...

Sending satoshi out of xapo does "incur" always fees...

[Arcteryx]

The free ride was good while it lasted but they did what they intended to do as a business and it was to get as many customers as they could in a short amount of time.
They are a business after all and what do expect them to do? To be sustainable they have to charge some sort of fee to even be able to compete.
I can see coinbase doing the same thing very soon.