Gatehub XRP to USD issues

[LongTimeLurker]

Has anyone else tried to exchange XRP back to USD at gatehub?  I did a test with one XRP, and they quote no fee, yet I got 2 USD.  XRP currently trading at 2.68.  Basically highway robbery

[Mago]

Yes, Gatehubs exchange rates are wacky.  It's been that way for a few different items.  I'm seeing 1 ETH is worth $621 yet Coinbase says $920. 

[Javim777]

Hi! The prices in Gatehub are retraced, I guess lack of liquidity. If you want to sell is better to choose another exchange. Right now the price in Gatehub is around 1,99 while in others exchanges are over 2,7...

[LongTimeLurker]

Thanks.  Yes taking a deeper look, it looks like just have to be patient and use XRP/BTC or XRP/ETH which have better liquidity, then once you get it into BTC/ETH you can transfer back to a respectable exchange like GDAX and not get your face ripped off.

For the record I'm not saying I'm bearish on XRP, I'm just trying to "test the pipes" with my current setup of Coinbase and Gatehub.  Bitstamp approval has been pending for 3+ weeks now.

[moto377]

I use GateHub and also waiting for Bitstamp approval.  BTC and ETH also exchanging very low on GateHub, so what I was thinking to do is, when the time to sell XRP comes, exchange XRP/ETH on GateHub then ETH to USD on Coinbase or GDAX.  Overall, by exchanging XRP/ETH on GateHub you get a fair number of ETH since ETH is also valued low.

Thoughts or better options on how to eventually convert XRP to USD at a fair market price?  I plan to hold on for awhile as I think we are only seeing the tip of the iceberg for Ripple. 

[LongTimeLurker]

Moto exactly what I was thinking.  It seems the way to get screwed the least is to move XRP into ETH. 

Although the reasoning is flawed and gatehub is still garbage it seems (XRP and both ETH are low but just right so the exchange is not bad,) at least we can exchange it into something where it can easily be sent out to GDAX/Coinbase!  Thank you all for quick responses

[Xrated]

Funny, I came to post this very issue.

 

I checked gatehubs xrp price and is at 1.99, yet most other sources post the pricing at 2.79, depending on how much you have, this is a significant difference.

 

I guess the only thing to do would be transfer to other locations and cash out if that is what you are looking to do. My concern isn't for today, but the future. I hope gatehubs exchange would be a little more accurate with the prices. Something to definitely keep in mind when the time comes. 

 

If anyone gets news on it, post it!

[moto377]

I am hoping coinbase/GDAX will soon support XRP and then just manage RIpple wallet from there.  My only issue with coinbase (and likely the same with GDAX) are the weekly sell limits which are low.

From all I can see no sell limits on GateHub.  Also, I have successfully wired money to GateHub, sold and bought XRP in the past without issues.  It is just to bad pricing is way off.   In the end I want a one-stop exchange that supports Ripple and just plain works with the freedom to buy and sell as needed.  I suspect Q1 2018 we will see more options.

I am glad to found a group that is in the same boat and helping each other find solutions!

[Rose]

so it is good to buy  xrp on Gatehub  and sell it somewhere else? 40% gain???

[moto377]

Just noticed some good news if you use GateHub - within the last hour XRP jumped up on GateHub and now trading more in-line with Bitstamp and Kraken.  All three within $0.10 of each other as of this post.  It has been a long time since I have seen GateHub trading competitively with other exchanges.  We shall see if it holds.

[LongTimeLurker]

I'm seeing that now as well.  Still need to be very careful.  The issue is, if you look at the actual order book, it's really shallow. So you could try to sell like 100 XRP and it could move the market there.  Whereas on Bitstamp (second screenshot) there is a ton more depth and there are trades happening every few seconds.

PS - Hopefully this is last screenshot ever of XRP below 3 bucks!  Just broke through!  #Zerpme

My longterm plan is still to have Bitstamp approve me or just hold out if/when Coinbase/GDAX start supporting XRP.  Until then I'll be on gatehub exchanging XRP/ETH and if ever want to really cash out will throw the ETH back onto GDAX

 

[moto377]

Agree 100% with you.  Where the volume trading is, so is the highest XRP price.  Korean exchanges are going nuts right now and their exchanges are getting essentially the highest XRP/USD.  Once XRP available on US exchanges I am expecting the volume to go up which will drive XRP/USD way up.  Like you I am sticking to the long term plan as well. 

 

[TigeeForce]

T

Edited January 7, 2018 by TigeeForce

[Mac]

At Longtimelurker, but remember, you also purchased at the whacky bargain basement price so you cant be losing. 

 

 

Edited January 4, 2018 by Mac

[Mac]

2 minutes ago, Mac said:

But remember, you also purchased at the whacky bargain basement price so you cant be losing. 

 

 

Oh, I think I see what you mean now. I am also thinking of moving some xrp to usd, now I'm nervous.