skywalker Posted August 9, 2017 Share Posted August 9, 2017 About to buy 50k USD of Ripple on Gatehub. 1) Should I buy BTC on coinbase, send to BTC Gatebub and Exchange money there. 20% Fee? 2) Wire USD directly to Gatehub and Exchange to XRP ? 20%fee? 3) Cheaper to buy XRP on the ledger than use the EXchange? I've bought before but smaller amounts etc. Link to comment Share on other sites More sharing options...
g00p Posted August 9, 2017 Share Posted August 9, 2017 With 50K I'd wire it to gatehub for a couple reasons, but I'm not sure you'll be able to send that much in one go. Depending on your bank there will be a flat fee, 40 bucks maybe, and then a 15 dollar fee from Gatehub. With Coinbase they will not give you a good starting rate, so your 50k could right off the bat become like 48-49 k and then the fees to transfer the BTC. Just my two cents though. Link to comment Share on other sites More sharing options...
skywalker Posted August 9, 2017 Author Share Posted August 9, 2017 thanks g00p. I was thinking of cutting up the 50k into 3 pieces during wiring and purchasing etc. So I don't have my eggs all in one basket. Current thought: wire USD to Gatehub, exchange to XRP and send to my Trezor. HOld and wait for XRP to explode up! Looks like it's a 20% fee to exchange from USD to XRP on gatehub. Link to comment Share on other sites More sharing options...
7strings Posted August 9, 2017 Share Posted August 9, 2017 (edited) Is Kraken not an option for you? I think their fees are much lower. Edited August 9, 2017 by 7strings Link to comment Share on other sites More sharing options...
skywalker Posted August 9, 2017 Author Share Posted August 9, 2017 kraken is an option. I'm in the USA Is that better? Fee wise? Link to comment Share on other sites More sharing options...
g00p Posted August 9, 2017 Share Posted August 9, 2017 4 minutes ago, skywalker said: thanks g00p. I was thinking of cutting up the 50k into 3 pieces during wiring and purchasing etc. So I don't have my eggs all in one basket. Current thought: wire USD to Gatehub, exchange to XRP and send to my Trezor. HOld and wait for XRP to explode up! Looks like it's a 20% fee to exchange from USD to XRP on gatehub. Don't just exchange it. Trade it and pick the price you want to buy at. Will take more time, but makes you more money. Link to comment Share on other sites More sharing options...
7strings Posted August 9, 2017 Share Posted August 9, 2017 Not sure about USD. Below you can find all Kraken fees and compare them with Gatehub etc.https://support.kraken.com/hc/en-us/articles/201396777-What-are-the-deposit-fees-https://www.kraken.com/help/feeshttps://support.kraken.com/hc/en-us/articles/201893608-What-are-the-withdrawal-fees- Link to comment Share on other sites More sharing options...
7strings Posted August 9, 2017 Share Posted August 9, 2017 One more thing about Kraken: Tier 3 or 4 verification required before you can deposit USD and there are deposit limits:https://support.kraken.com/hc/en-us/articles/215791158-How-do-I-deposit-USD-into-my-account-US-Resident- Link to comment Share on other sites More sharing options...
jeffk14 Posted August 9, 2017 Share Posted August 9, 2017 2 hours ago, skywalker said: thanks g00p. I was thinking of cutting up the 50k into 3 pieces during wiring and purchasing etc. So I don't have my eggs all in one basket. Current thought: wire USD to Gatehub, exchange to XRP and send to my Trezor. HOld and wait for XRP to explode up! Looks like it's a 20% fee to exchange from USD to XRP on gatehub. Wow, are you sure? I'm brand new at this but I may have to rethink my plans. 20% seems awful high. I didn't see that listed on the fee schedule for Gatehub. There was a "Ripple Fee" of 0.2% but I didn't see a fee for changing USD to XRP. Link to comment Share on other sites More sharing options...
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