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Author Topic: Xapo fees is too high.  (Read 4439 times)
Vikingr
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June 08, 2017, 10:57:08 PM
 #41

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.
I think we can see on the explorer that how much fees is paid for a particular transaction so xapo if will charge any fees then they will pay all of them for the transaction as they say that it is only the miner fees deducted from them and so they will not defame their wallet by getting some money from it.

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June 08, 2017, 11:38:40 PM
 #42

That is why i don't like to use online or web wallet because you dont have fully control about your fee for every transaction and you can not change it every time you are sending.. better to choose desktop wallet like electrum if you want to control the fee..
and just update and follow the good fees here bitcoinfees.21.co and you are in good to go to send with enough fees.

..Decision from segwit2x is not Final..
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June 09, 2017, 12:47:25 AM
 #43

About fees for a transaction BTC now is very hight, but I think 400 sat/byte is not highest, I use Electrum and if I want confirm my transaction after one block, best choice is 500 sat/byte Roll Eyes
I usually don’t need that much of a high fee when I send transactions with Bitcoin software since I try to use the accelerator from viabtc. Once the transaction is placed into that website, the transaction gets confirmed within a few hours.
Why do people spend so much on their transactions if they don’t really have to?

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June 09, 2017, 01:35:37 AM
 #44

About fees for a transaction BTC now is very hight, but I think 400 sat/byte is not highest, I use Electrum and if I want confirm my transaction after one block, best choice is 500 sat/byte Roll Eyes
I usually don’t need that much of a high fee when I send transactions with Bitcoin software since I try to use the accelerator from viabtc. Once the transaction is placed into that website, the transaction gets confirmed within a few hours.
Why do people spend so much on their transactions if they don’t really have to?

Maybe because some people would rather pay the appropriate fees rather than use a slot from viabtc which (in my opinion) was meant for those who has mistakenly calculated their tx size and has thus set a low fee.  Grin

Urgent transaction? Use the fastest and cheapest fee from bitcoinfees21
Not so urgent? Use a lower fee.
Mistakenly set a very low fee? Use the accelerator.

As for Xapo's fees, I'd suggest moving to a wallet that let's you set your own fees.


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SimmonenY
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June 09, 2017, 07:06:50 AM
 #45

The lack of control over fees can be frustrating sometimes. Xapo used to be one of my favorite wallets.
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June 09, 2017, 06:10:32 PM
 #46

As for Xapo's fees, I'd suggest moving to a wallet that let's you set your own fees.
I do not think I may not need to switch over to new wallet services. Xapo provides me options to choose high priority and low priority fees. Even with low priority fees they are adding extra fees as per other included out going transactions which leads to more than enough satoshi per byte for medium priority.

Probably directly processing fees as per network demands and not combining other user's tx into one single transactions might have prevented such a topic of complaining against fees.   

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June 10, 2017, 05:09:34 PM
 #47

By the way, I noticed one more bad thing about Xapo. I had to receive 0.001 btc, but received only 0.0002. There was attached message:
Since this transaction is is equal to or less than BTC 0.00146979, a fee has been charged to cover the costs of the bitcoin network.
But earlied they charged only transactions smaller than 0.0003 btc and now fee is increased. And transaction fee was already paid by sender, so why Xapo also have to charge fees?
It's enough for me, I'm leaving Xapo and moving bitcoins to other wallet.

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June 13, 2017, 02:23:14 PM
 #48

This is the worst decision Xapo made. I am done with this wallet.
Due to high fees, I think am going to use a desktop wallet  Smiley.

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June 13, 2017, 02:40:39 PM
 #49

Miners are currently having a very good period, with the bitcoin price rising every week, the fees are growing too. The transaction cost chart shows there is a correlation between price rises and transaction fees, that said, $6 quid for a $20 transaction is just too much.
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June 13, 2017, 09:40:43 PM
 #50

By the way, I noticed one more bad thing about Xapo. I had to receive 0.001 btc, but received only 0.0002. There was attached message:
Since this transaction is is equal to or less than BTC 0.00146979, a fee has been charged to cover the costs of the bitcoin network.
But earlied they charged only transactions smaller than 0.0003 btc and now fee is increased. And transaction fee was already paid by sender, so why Xapo also have to charge fees?
It's enough for me, I'm leaving Xapo and moving bitcoins to other wallet.


So they are charging fees of lower transactions, but not charging from big transactions? The little transactions are paying the fees for everyone's transactions, it's not a good way to do business... Xapo wanted to be different from other online services, but they became worse than all. It's not a small transaction friendly online wallet.

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June 15, 2017, 10:56:33 PM
 #51

yes xapo fees is too high i am also get this experience i sent 0.002 bitcoin to other address but the fees is 0.0014 bitcoin its almost same with the amount i sent, because of that i am not using xapo again and use other wallet with customised fees



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June 16, 2017, 01:41:08 PM
 #52

I don't know. Maybe they want to compensate for the time they offered transactions for free?

Or just got greedy.

There is no reasonable reason for such high fee now

That's right. Maybe they changed a head of the site and it's their new politic to make as much money on users as it is possible. I think with such temps they will loose users only.
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June 21, 2017, 08:51:35 AM
 #53

Yes correct, this makes I am redirecting to wallet exchanger such as bittrex, livecoin or poloniex, normal transactions need cost more than 0.0015 and for faster should cost about 0.0025 btc.



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Coiner_
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July 07, 2017, 07:54:44 PM
 #54

Just discovered they have a BTC0.00113443 transaction fee. That's > 15x the amount Moonbitcoin had funneled in there before they switched to Coinpot.

I've pretty much lost my satoshis. Oh well  Cry
ansi
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September 02, 2017, 03:43:33 PM
 #55

Joined them yesterday just to get paid from a file hosting website
Now i tried to send those btc to blockchain & guess what, the fee was the double of what i wanted to send to blockchain lol

WTF with this stupid XAPO thing, unbelievable Huh

So according tho their stupidity small amount shouldn't be used there, what the hell is wrong with them ?
I.E: sending $1.00 will cost you at least $6 BTC (standard) LOl on their stupidity

PS: they are forcing people to download their stupid APP since they ask people the next login to enter that 2nd factor number (even if it's not activated in your profile when you first joined)   which can only be acquired by installing their stupid APP.

Bunch of stupid scammers, if you have small amounts of BTC there, forget about it, you want be able to withdraw them or send them to any other wallet or BTC address.

btccashacc
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September 02, 2017, 07:37:59 PM
 #56

Joined them yesterday just to get paid from a file hosting website
Now i tried to send those btc to blockchain & guess what, the fee was the double of what i wanted to send to blockchain lol

WTF with this stupid XAPO thing, unbelievable Huh

So according tho their stupidity small amount shouldn't be used there, what the hell is wrong with them ?
I.E: sending $1.00 will cost you at least $6 BTC (standard) LOl on their stupidity

PS: they are forcing people to download their stupid APP since they ask people the next login to enter that 2nd factor number (even if it's not activated in your profile when you first joined)   which can only be acquired by installing their stupid APP.

Bunch of stupid scammers, if you have small amounts of BTC there, forget about it, you want be able to withdraw them or send them to any other wallet or BTC address.
This is why so many people migrate from xapo to another wallet service, I was a xapo user but they didn't force me to download the APP I just accessed the site through the browser installing an App seems like annoying, seriously the reason why do people left xapo it was due to the fee that they're charging. I personally have some bitcoins out there but my account has been blocked and i have to upload my document first to get my account back, sorry it's a big no well it doesn't matter since it just a little amount.

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carlfebz2
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September 03, 2017, 01:30:00 PM
 #57

Joined them yesterday just to get paid from a file hosting website
Now i tried to send those btc to blockchain & guess what, the fee was the double of what i wanted to send to blockchain lol

WTF with this stupid XAPO thing, unbelievable Huh

So according tho their stupidity small amount shouldn't be used there, what the hell is wrong with them ?
I.E: sending $1.00 will cost you at least $6 BTC (standard) LOl on their stupidity

PS: they are forcing people to download their stupid APP since they ask people the next login to enter that 2nd factor number (even if it's not activated in your profile when you first joined)   which can only be acquired by installing their stupid APP.

Bunch of stupid scammers, if you have small amounts of BTC there, forget about it, you want be able to withdraw them or send them to any other wallet or BTC address.
This is why so many people migrate from xapo to another wallet service, I was a xapo user but they didn't force me to download the APP I just accessed the site through the browser installing an App seems like annoying, seriously the reason why do people left xapo it was due to the fee that they're charging. I personally have some bitcoins out there but my account has been blocked and i have to upload my document first to get my account back, sorry it's a big no well it doesn't matter since it just a little amount.
Coinbase and Xapo is famous when it comes on having no fees regarding on any transfer that you would made back in the past but when they already charged up.First was coinbase who did make implementations on charging up tx fee from its users and next is Xapo. I can able to say such thing because I'm both user of those coins.This would only be good if you do make transfers on the same wallet since that would really be a free of charge but now fees rose up insanely high reaching out almost $6-$10 when I do make a transaction last time.



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felicita
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September 03, 2017, 08:08:15 PM
 #58

you asking why ??
becourse ey covered fees over years in there starting from users.
many years i had no fees for any btc transaktion outgoing and ingoing from xapo, they allways payed all fees from there users Cheesy
now ey take the fees back Cheesy



kind regards

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klf
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September 07, 2017, 08:10:28 AM
 #59

you asking why ??
becourse ey covered fees over years in there starting from users.
many years i had no fees for any btc transaktion outgoing and ingoing from xapo, they allways payed all fees from there users Cheesy
now ey take the fees back Cheesy



kind regards

Earlier they were paying the fee because they wanted to attract more and more people to use their wallets. Since now fees are high then they started to charge the fee and that should be fine. But I too find that their minimum fee itself is quite compared to other wallet services.

I was using them even though higher fee because of their debit card but from next month they even stop that facility in my country so I will not use this wallet anymore.

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mustafizur8400
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September 11, 2017, 08:37:46 AM
 #60

Just discovered they have a BTC0.00113443 transaction fee. That's > 15x the amount Moonbitcoin had funneled in there before they switched to Coinpot.

I've pretty much lost my satoshis. Oh well  Cry

leave it and use coinbase wallet.its free from charge when you make transaction coinbase to coinbase wallet.
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