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Gatehub fees are ridiculous. CONFIRMED. Gatehub charging fees while advertising 0 fees in transactions!!


beav
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Just now, hammertoe said:

Because they are a gateway to other currencies. In this case I presume they were transferring bitcoin or Ethereum in. 

-Matt

Ah ok, what's wrong with shapeshift though? You don't have to rely on BTC or ETH with that, you can use LTC from coinbase which is faster.

I ruled out gatehub altogether based on the complaints in this forum.

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2 minutes ago, tulo said:

Which incoming transfer? If you deposit ETH, ETC, BTC EUR...there are no fees.

https://www.gatehub.net/fees

I deposited both BTC and ETH and was charged around $30 on both mid transfer. Gatehub may not claim the fees as "theirs" but they are definitely being applied by the network. Go ahead and give it a shot. It showed a 0 on fees but I was charged a chunk on both. There's an older thread that had the same thing happen. (Too late now)

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Shapeshift ****** me over in Dec. Was sending btc to xrp, but when btc tx confirmed they had disabled the xrp exchange option. Had to wait for 10 days to get the btc back and do the exchange via binance. Only got 50% of the xrp I would initially get, because btc meanwhile got a dip and xrp surged.

I dont blame them because I accepted the terms of use, but I learnt my lesson.

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34 minutes ago, beav said:

I deposited both BTC and ETH and was charged around $30 on both mid transfer. Gatehub may not claim the fees as "theirs" but they are definitely being applied by the network. Go ahead and give it a shot. It showed a 0 on fees but I was charged a chunk on both. There's an older thread that had the same thing happen. (Too late now)

Oh, you are right https://www.gatehub.net/fees

Never noticed it...

It's weird to have deposit fee.

Edited by tulo
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@beavThere are no deposit fees. I've spent a considerable amount of time experimenting with various deposits and analysing XRP Ledger transactions to and from Gatehub.

There is a 0.2% fee every time you send a USD or EUR IOU to another wallet from Gatehub (either by a direct payment or as a result of a trade [offerCreate]). There's a 0.3% fee for the same with cryptocurrency IOUs. These fees are "transfer fees" and are enforced by the XRP Ledger.

You may be looking at the "net worth" of your wallet, which will display the equivalent value of all of your coins in a selected currency. It's well known that Gatehub's IOUs are generally not trading for market value at the moment, so there will be discrepancies there, it's not surprising that it will show you a lower value than you expect. This doesn't mean that you have any less ETH/BTC than you deposited.

If you look at the actual amount of the deposited currency (ETH or BTC), and compare it to the amount that you sent from whatever other wallet, it should be identical, minus BTC/ETH transaction fees. If you can show me proof of it being otherwise I'd be very interested.

I've even had two ETH deposits recently where Gatehub credited me slightly more ETH than I sent them from Coinbase!

Edited by at3n
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55 minutes ago, UrzasLegacy said:

I've never had this issue with Gatehub. Are you sure something else isn't going on?

Could you go more in depth on what happened? You deposited BTC and ETH and received less BTC and ETH than you should have?

Yes exactly.

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5 minutes ago, at3n said:

@beavThere are no deposit fees. I've spent a considerable amount of time experimenting with various deposits and analysing XRP Ledger transactions to and from Gatehub.

There is a 0.2% fee every time you send a USD or EUR IOU to another wallet from Gatehub (either by a direct payment or as a result of a trade [offerCreate]). There's a 0.3% fee for the same with cryptocurrency IOUs. These fees are "transfer fees" and are enforced by the XRP Ledger.

You may be looking at the "net worth" of your wallet, which will display the equivalent value of all of your coins in a selected currency. It's well known that Gatehub's IOUs are generally not trading for market value at the moment, so there will be discrepancies there, it's not surprising that it will show you a lower value than you expect. This doesn't mean that you have any less ETH/BTC than you deposited.

If you look at the actual amount of the deposited currency (ETH or BTC), and compare it to the amount that you sent from whatever other wallet, it should be identical, minus BTC/ETH transaction fees. If you can show me proof of it being otherwise I'd be very interested.

I've even had two ETH deposits recently where Gatehub credited me slightly more ETH than I sent them from Coinbase!

What would you like for proof. I can screenshot or link or anything. This happened twice. You just tell me what to send and you'll get it.

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7 minutes ago, beav said:

What would you like for proof. I can screenshot or link or anything. This happened twice. You just tell me what to send and you'll get it.

The transaction ID (hash) of the payment transaction from Gatehub Fifth to your wallet, and the equivalent transaction on the ETH or BTC blockchain sending ETH or BTC to Gatehub Fifth.

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7 minutes ago, at3n said:

The transaction ID (hash) of the payment transaction from Gatehub Fifth to your wallet, and the equivalent transaction on the ETH or BTC blockchain sending ETH or BTC to Gatehub Fifth.

See my link above...there is indeed a fee.

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