sepilok Posted May 23, 2017 Share Posted May 23, 2017 My new gatehub ripple wallet was credited with the minimum 20xrp, but it only shows 19.98 now (and dropping every day). Anyone know if that will stop me opening gateways? I have been waiting to be confirmed for over a week. When I try to open BTC gatehub gateway, it says "insufficient xrp reserve." Link to comment Share on other sites More sharing options...
Wilbur14 Posted May 23, 2017 Share Posted May 23, 2017 Yes, I know. Link to comment Share on other sites More sharing options...
Wilbur14 Posted May 23, 2017 Share Posted May 23, 2017 8 minutes ago, sepilok said: My new gatehub ripple wallet was credited with the minimum 20xrp, but it only shows 19.98 now (and dropping every day). Anyone know if that will stop me opening gateways? I have been waiting to be confirmed for over a week. When I try to open BTC gatehub gateway, it says "insufficient xrp reserve." Give me your XRP adx. I'll make you whole again. Link to comment Share on other sites More sharing options...
sepilok Posted May 23, 2017 Author Share Posted May 23, 2017 Do you know why it is dropping? Link to comment Share on other sites More sharing options...
Eik Posted May 23, 2017 Share Posted May 23, 2017 9 hours ago, sepilok said: Do you know why it is dropping? Every transaction you do on the RCL (be it sending money or setting trustlines, or creating an order) requires a small amount of XRP. This serves as spam-protection. With the initial 20 XRP you can activate your account and create two trustlines (if I remember correctly). After that point, for every transaction that you do, you will need extra XRP: 5 XRP deposit [you will get it back] per open order or setting a new trustline; and a very small amount (e.g. 0.01 XRP) per transaction, this amount you will lose. So load up a bit more XRP, and make sure you always have some reserve XRP above this 20 XRP limit. sepilok 1 Link to comment Share on other sites More sharing options...
Roborovskii Posted May 23, 2017 Share Posted May 23, 2017 @Eik 20 XRP is only for account activation. Additional 5 XRP for each trustline, 5 XRP for each order placed, etc. Before the run-up in XRP price, we used to give new users 31 XRP for account activation + trustline + 1st buy order placed + 1 XRP transaction cost. Right now 31 XRP costs about $9 USD. Link to comment Share on other sites More sharing options...
Eik Posted May 23, 2017 Share Posted May 23, 2017 37 minutes ago, Roborovskii said: @Eik 20 XRP is only for account activation. Additional 5 XRP for each trustline, 5 XRP for each order placed, etc. [...] I recently read here on the forum (including proof) that the first 20 XRP can also be used to create 2 trustlines (don't have the link at hand). Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now