Question re buying and fees

[Cryptoababe]

Today I transferred £500 to my coinbase account and bought £500 of xrp . Immediately After I had bought it it showed the value as £487. Surely the fees for buying are not £13?

It may be due to downward in price of ripple. When you purchase crypto with fiat. And the current market volatility is high, this kind of fund reduction may happen

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[Renampun]

I think it depends on various platforms. I saw that kinda thing too. When i calculate with Preev and check other exchange too, the result always came different.
The problem OP facing is probably because of volatility. In crypto currency market that's not new. Price can be rise up/down hugely under a minute. So it can be happen anytime with anyone.

what the OP is experiencing is not just a price volatility...
each exchange has a different policy regarding buying and selling fees and the higher the purchase or sale made, the more costs are deducted, experienced by the OP purely because of price volatility + withholding costs.

[Shasha80]

It must be remembered that the price of XRP is very volatile, so in a few minutes the price can change drastically. So the change
in your XRP value is not necessarily due to transaction fees from Coinbase. Just hold in a few days your XRP value will definitely
change again. Just hope the value changes become bigger, even if it changes to low just hold it, wait until the value returns to
what value you want.

[alani123]

Sad to say if you bought with banks/credit/debit cards that is always the case aside from fees you are buying those coins at highest possible price, that is not a volatility issue, that is always the case if you are buying with credit cards. If you are not convince try other platform like binance. I have notice it on variuos platforms, like binance, Trustwallet, Blockchain wallet, etc. they are all the same, maybe that is their way so they could earn more from us.

EDIT: Just test binance now, their rate is more cr*zy look at that difference.

Card payments are seen as more convenient by many people that just don't know any better. And in some instances like for example in America, even domestic bank transfers can take long and often are quite expensive. So it can be convenient to pay a small levy and just get coins if you need them fast.

But for the merchant completing a large volume of card transactions, it is often that they face card fraud. So this is what makes cards really expensive for crypto, along with the bank fees of course. It's not always a good comparison.

Coinbase wallet also takes bank deposits, like a normal exchange. This should make buying with bank funds cheaper, but they apply the same fees.

[bitgolden]

It could very well be, there is tons of fees all around the exchange world, I do not know what yours is and why XRP would be etc, but I had something similar, I had about 3900 fiat (of my nation) and with the trading fees it has become 3890 which means 10 fiat gone, and with withdrawing to my bank account it became 3887, so all in all I did lost 13 fiat as well, obviously that is a lot less compared to dollar or euro but it is still 13 fiat.

If you had the same amount of trading fees and all that, you could have dropped it as well. Plus there could be fall in the price as well that you didn't notice, or you could have bought overpriced without realizing and make a loss instantly as well. These are all possibilities and that could cause you to lose money right away.

[Sanitough]

Can't tell, but it's only you that can tell since you can check the history, but probably it's the little fee and high volatility that affect the value of your coin now.

If we look at here, https://coinmarketcap.com/currencies/xrp/markets/.. there's a little changes, that 2.31% in usd value ( will change from time to time)..
and you only lose  £13 of £500 in value, so you loss 2.6%... I guess it's the volatility.

[chip1994]

Today I transferred £500 to my coinbase account and bought £500 of xrp . Immediately After I had bought it it showed the value as £487. Surely the fees for buying are not £13?

it may be due to a system error displaying the price at that time. In Coinbase I still run into such cases, but the value of my coin is still the same. Or it could be because the price of XRP has suddenly plummeted when you bought it. Please double check and report to Coinbase supporters.

[Ridwan Fauzi]

Today I transferred £500 to my coinbase account and bought £500 of xrp . Immediately After I had bought it it showed the value as £487. Surely the fees for buying are not £13?

Have you check with the calculator? I mean, at what price you bought 1 XRP in euro so you will get the certain amount and you can multiply 1 coin xrp by the price of 1 XRP coin in euro. So as you will know the problem between fee or the volatility of xrp price.

Usually, the exchange just take a few percent to charge for every transaction. I never use coinbase before but so far I never had the problem like yours in another exchange like binance or OKEx. However, I often to find when I bought a coin and my money just decreased a lot due to the volatility price the coin that I bought.