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Author Topic: Xapo fees is too high.  (Read 3561 times)
Harry Callahan
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June 08, 2017, 05:41:28 PM
 #21

The main issue is they are charging higher fees but what funny is that they are not using those fees while transferring the amount,the minimum amount of fees they are charging now to send a transaction is over 0.0024 btc but while sending they will only input 0.0012 btc ,they said they will be using those fees for transaction and now they are taking commission too i guess. Roll Eyes
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June 08, 2017, 05:42:53 PM
 #22

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.

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June 08, 2017, 07:18:12 PM
 #23

fees are increasing everywhere... kraken having $7 fees on withdrawal

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June 08, 2017, 07:37:29 PM
 #24

When I used it was free

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June 08, 2017, 07:39:20 PM
 #25

Noticed high Xapo fees. Few days ago I sent 0.01 btc from Xapo, I choosed Standard priority fee, which was 0.0018 btc. I had to wait over 6 hours to get confirmations. If I would choose high priority fee, they would charge even more.
Maybe fees are such high, because they want to cover expenses from times, when they had free transactions.

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June 08, 2017, 07:58:18 PM
 #26

all the average increase, so too with some of the exchange market fee withdraw have gone up.
to solve this I switch to my $DOGE #DGB #ETH that is still affordable and cheap in the transaction fee  Smiley

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June 08, 2017, 08:03:29 PM
 #27

all the average increase, so too with some of the exchange market fee withdraw have gone up.
to solve this I switch to my $DOGE #DGB #ETH that is still affordable and cheap in the transaction fee  Smiley

ethereum fees are catching up fast. check what happens when all these dapps or whatever they are are piling pressure on space.

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June 08, 2017, 08:13:35 PM
 #28

Xapo looks ridiculous now. What are their new terms and conditions for even incoming transactions. The minimum is 0.00141976  else a ridiculous fee of 0.00094651  is charged? And the fee of 0.00223083 is too high to pay as I pay 0.0005 fee for my bitcoin transactions via blockchain which get confirmed within an hour. Xapo is anyways charging a fee and hence why to even charge for incoming transactions? Glad that I left them.


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June 08, 2017, 08:27:12 PM
 #29

Oh just as i  thought lately that anytime soon they will charge up some fees on making transfers but what the heck on the required fees about 0.002 is too much and i didnt expect that they charge up more than on coinbase which is 0.001 fees which is already too much for me,how about more on xapo..I cant afford to pay up such high fee better to look another wallet or stick to coinbase.

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June 08, 2017, 08:45:37 PM
 #30

all the average increase, so too with some of the exchange market fee withdraw have gone up.
to solve this I switch to my $DOGE #DGB #ETH that is still affordable and cheap in the transaction fee  Smiley

ethereum fees are catching up fast. check what happens when all these dapps or whatever they are are piling pressure on space.
Basically that. If you look properly at the altcoin industry, then you'll know that network-wise, there is barely any real usage, and thus all transactions will confirm incredibly fast compared to Bitcoin.

If at some point these networks will start experiencing some heavy usage, they will eventually go through the same obstacles Bitcoin is going through right now ~ that's something people here don't seem to realize.

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June 08, 2017, 08:53:49 PM
 #31

I was a permanent user of xapo but after they imposed the miners fees I also noticed that their fees is very high than any other wallet or than the normal fees.  think it was their older calculation which they were paying for the members and now they want us to pay the same as they were paying.

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June 08, 2017, 08:54:03 PM
 #32

Yeah xapo payment was too high, your earnings was always deductable due to payment. Sometimes your half of your income wasn't come to you because you can prepare it for payment to xapo charges.

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June 08, 2017, 08:54:30 PM
 #33

Xapo looks ridiculous now. What are their new terms and conditions for even incoming transactions. The minimum is 0.00141976  else a ridiculous fee of 0.00094651  is charged? And the fee of 0.00223083 is too high to pay as I pay 0.0005 fee for my bitcoin transactions via blockchain which get confirmed within an hour. Xapo is anyways charging a fee and hence why to even charge for incoming transactions? Glad that I left them.
their terms and conditions are changing from time to time. in previous days i received a message from them that they are not charging any fee but it is upto you to put the fee according your your own choice and your transaction fee will be depending on the fee you have put on. i personally still not confirm that what is their real strategy either they are collecting fee manually or automatically cutoff at the time of transaction.

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June 08, 2017, 08:56:44 PM
 #34

When I used it was free

When was the last time you used XAPO? If just recently then maybe you transfer to XAPO user too as transaction are free if between XAPO to XAPO accounts. But today there are respective when sending bitcoin to an outgoing address.

Noticed high Xapo fees. Few days ago I sent 0.01 btc from Xapo, I choosed Standard priority fee, which was 0.0018 btc. I had to wait over 6 hours to get confirmations. If I would choose high priority fee, they would charge even more.
Maybe fees are such high, because they want to cover expenses from times, when they had free transactions.

Same case, around 150,000 sats and it tooks 8 hours to confirm but recently pays 220,000 sats and transaction was confirmed in less than two hours. I see the fees were applied so no argument to XAPO.

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June 08, 2017, 08:57:11 PM
 #35

I said goodbye to Xapo long ago. It was a nice 2016 with zero fees. Great for accepting micro btc transactions.

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June 08, 2017, 08:58:04 PM
 #36

I was a permanent user of xapo but after they imposed the miners fees I also noticed that their fees is very high than any other wallet or than the normal fees.  think it was their older calculation which they were paying for the members and now they want us to pay the same as they were paying.
Maybe they would pay the same fees but they were able to pay that much fees or they may pay lesser and now want the members to pay high to speed up the transactions more. By they way they do not have to decide for the fees but they have to give the members the option to write their own fees while transacting the money.



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June 08, 2017, 09:03:56 PM
 #37

I was a permanent user of xapo but after they imposed the miners fees I also noticed that their fees is very high than any other wallet or than the normal fees.  think it was their older calculation which they were paying for the members and now they want us to pay the same as they were paying.
Maybe they would pay the same fees but they were able to pay that much fees or they may pay lesser and now want the members to pay high to speed up the transactions more. By they way they do not have to decide for the fees but they have to give the members the option to write their own fees while transacting the money.

I dont think that they will do this because in this case some users who dont know how much to put transaction fees on each transaction. but even the other exchanges are also charging flat 0.0015btc as transaction fees for any volume of transaction. so now they are getting chance to earn back what they use to send in free.














 

 

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June 08, 2017, 09:30:41 PM
 #38

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.

I just used them when they started to charged low incoming transactions and now with this type of adjustment this is making me to stop them in using. And there's no way for us to see them again charging no fees for each of our transactions. This will make their users stop and their adjustment of fee is not even deciding for their users instead they are the ones to decide it.

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June 08, 2017, 09:43:04 PM
 #39

Totally agree with first the fees was 0.001 which was decent and same as most exchanges so i didn't care much but 0.0023 is actually a lot and i keep all my funds in xapo. I used to coinbase but stopped because of fees i guess this is the right time for me to shift backnto coinbase and would recommend you also to do the same

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June 08, 2017, 10:49:11 PM
 #40

Is there any way that we can send bitcoin without paying high redicoulis fees, for a while i have been using Xapo wallet and i have never thought that they will reach a point where they take high fees for external transactions, so what is the best wallet out there that doesn't take so much fees, i know that these are not going to the wallet company because they are for miners, but at least is there one that lets you set the fees by yourself

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