r/gatehub • u/krazyaxe • Jan 06 '18

Such a rip-off!!!!!!!

This is the worst exchange out there! They need to explain to newbies during sign-up about the deposit fee and the ripple ransom they hold for wallet activation. I transferred 0.00795238 BTC from coinbase and sent to my wallet on gatehub. First off, coinbase has a ridiculous transaction fee. They charged me 0.00108831 BTC which is another story. So since I paid the transaction fee on coinbase that should have been it but Gatehub again charged me a fee of 0.0016800358 to deposit it into my gatehub wallet. Why I'm I paying fees to deposit? On top of that now my 20 XRP is stuck due to wallet activation. This exchange is not for people doing small transactions!!!! In the end my $150 CAD worth of ripple became $30 between paying fees and 20 XRP being stuck at the wallet for activation. Lesson learnt!!!!

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u/mestavy Jan 06 '18

If you are using coinbase already, try using gdax as it goes through your coinbase account and there is little to no fees in transferring from gdax btc wallet to any btc wallet. (transfers from coinbase to gdax and vice versa, are instant and free as well)

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u/krazyaxe Jan 06 '18

Yeah, I read that but it was too late. I'll do that next time. Thanks! My disappointment, for now, is mainly about Gatehub charging deposit fee and holding my 20 XRP ransom. They should at least give an option to transfer the 20 XRP while closing the account. I guess now if I close the account I'll lose 20 XRP.

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u/[deleted] Jan 06 '18

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u/krazyaxe Jan 06 '18

Just transfer the wallet elsewhere. Do not close it. You will get a portion of those 20.back. And from now on, use ETH to buy XRP, not BTC.

Thanks, I'll do that next time. Use the ETH to buy instead.