My XRP Gatehub wallet is not working

[Dayo]

Hello, I just sign up for my XRP on Gatehub but I can't set up my deposit account because I don't have enough XRP. I have 30 xrp and 50 is needed. what do i do.. 

 

 

my XRP address:   rPxphzDy2AomfurhARGt2tZzwhjD2h5W85

 

Thanks

 

[enej]

12 minutes ago, Dayo said:

Hello, I just sign up for my XRP on Gatehub but I can't set up my deposit account because I don't have enough XRP. I have 30 xrp and 50 is needed. what do i do.. 

my XRP address:   rPxphzDy2AomfurhARGt2tZzwhjD2h5W85

Thanks

 

Hi @Dayo looks like you are ready to go. 

Kind regards,
Enej

[namini]

Just curious but, 50 XRP is needed for what? fiat deposit? crypto deposit?

 

[Dayo]

Oh thanks alot.

[tulo]

3 hours ago, namini said:

Just curious but, 50 XRP is needed for what? fiat deposit? crypto deposit?

 

In RCL you need some "locked" XRP that are called reserves.

You need (at current setting) 20 XRP to create an account and 5 XRP per "item" in the ledger, that are offers, trust lines,...

I think when an account is created in Gatehub, automatically 3 (or two) trust lines are set, so that 35 (or 30) XRP are locked. If you want to add another trust line then you need more XRP to be frozen. You can solve by removing other trust lines or funding with more XRP. 

PS: when I was experimenting with BOTS I had one error, so that I didn't delete my offers and my bot end up with 2000-5000 offers (wasn't able to count them even via software ) and 10.000-25.000 XRP locked.

PPS: to see your locked XRP (and have an estimate of trust lines and offers) you can send an "account_info" (https://ripple.com/build/websocket-tool/#account_info)  request and look at the "OwnerCount" field. That is the number of "items" on the ledger. Multiplying by 5 + 20 it gives the actual reserve.

Edited April 10, 2017 by tulo

[ozepa]

I tried to open an account on Wednesday, almost a week ago, and i am still waiting for verification.  I sent an inquire and never received response.  ozepa

[namini]

Yes Tulo, but also, you cannot deposit funds with a bank if you don't have 50 XRP on Gatehub, which seems weird? @enej

Btw @ozepa you don't have to wait verification if you just want to trade cryptos (not including FIAT money).

 

 

[enej]

12 hours ago, namini said:

Yes Tulo, but also, you cannot deposit funds with a bank if you don't have 50 XRP on Gatehub, which seems weird? @enej

Btw @ozepa you don't have to wait verification if you just want to trade cryptos (not including FIAT money).

 

 

@namini nice catch! It's actually just the text that's wrong.  We'll update it in our next release.