Jump to content
AdamM

Gatehub is broken, stay away

Recommended Posts

9 hours ago, pucksterpete said:

I use Rippex wallet to trade and move my IOU's to Gatehub

Having an account on Bitstamp and Gatehub makes for some GREAT arbitrage opportunity!!! :) 

Can you share some details on how you accomplish this with Rippex? I posted a question on this in the software section.

Or if you have any guides you can point me too, that would be appreciated.

Message me directly if you like, so not to plaster it here.

Share this post


Link to post
Share on other sites
4 hours ago, elias said:

So if GateHub has bad liquidity that means the XRP Ledger itself has bad liquidity.

Why does the XRP Ledger have bad liquidity - is it because the interfaces to it like GateHub are badly designed? Would people still use Polo, Kraken etc. over GateHub even if GateHub had decent liquidity?

The KYC hassle being larger @gatehub ?

Share this post


Link to post
Share on other sites
15 hours ago, tulo said:

I think before using Gatehub you had to understand what was going on.

  • Gatehub is basically a UI. It interacts with Ripple network, so you are actually trading IOUs on XRP ledger. The volume is not related to gatehub but to XRP ledger volume.
  • There are multiple ways to get funds out. You can also buy on XRP ledger USD/BTC of Bitstamp and withdraw them there for free.
  • Also the SEPA from gatehub is basically free, I don't see why you say 2%,5.9% ad so on...
  • The funds don't "move using XRP"...

To let us help you you should tell us which IOUs you have and where you want to move them. 

I don't know much about the IOU's process, how to manually create these... all I did was use bitstamp to check XRP / USD wallet address with dest tag, on gatehub I hit send payment to XRP address and selected USD.  There's no other way to do it on that platform within the gui and when I did the dry run with a small amount it cost 3%, when I went for a larger amount that's when the higher transfer rate ballooned.

You can see the transaction on ripple, it was linked in my op.  Why are the charges so high, who is pocketing the profit?  It was sent on ripple network, beyond that I don't know.  Something I do know, when I use flash-fx, I use the exact same process.  I used a XRP address on gatehub, I selected USD on flash-fx and I got the exact same amount of USD value sent and received on gatehub.  Why is that any different?

From my perspective, something dodgy is going on there... somebody is making a lot of money for doing nothing.  It's reasonable to expect that sending 1 USD from one place to another wouldn't cost 1% let alone the 5.9% I saw on gatehub.

ghsend.jpg

Share this post


Link to post
Share on other sites

Things have been really slow at Gatehub for the past couple of weeks. Liquidity was never great, but it's taken a dive since late August. At first I thought it was just an end-of-summer lull but that's clearly not the case.  Still, I think the success of Gatehub would be positive for Ripple and, therefore, for XRP holders, so I'm hoping things turn around.

Share this post


Link to post
Share on other sites
5 hours ago, AdamM said:

all I did was use bitstamp to check XRP / USD wallet address with dest tag, on gatehub I hit send payment to XRP address and selected USD

What you mean with sent payment to XRP address and selected USD?

With XRP address you mean a ripple address?

EDIT: I saw the transaction. You were sending USD.Bitstamp using USD.Gatehub. At the moment the USD at gatehub have less value than the USD at Bitstmp so there you got the "fee" related to the spread of the two markets. If you want better prices you can place an offer to trade USD.gatehub vs USD.Bitstamp at the price you want and then wait for the order to be taken. Otherwise with payments you get an instant payment but at the market price. Nothing fishy going on, only bad understanding on how XRP ledger works.

Edited by tulo

Share this post


Link to post
Share on other sites
1 hour ago, Broncofan1983 said:

When I want to sell xrp, Can I send xrp from gatehub to bitstamp with a huge fee?  And then convert to btc or usd at bitstamp??

Haha obviously I didn't mean with a huge fee.  What do I do with my XRP if I don't want to lose money because of gatehub's bs prices.  Can I send xrp somewhere else withOUT a huge fee?

Share this post


Link to post
Share on other sites
On 13/09/2017 at 7:03 PM, tulo said:

I think before using Gatehub you had to understand what was going on.

  • Gatehub is basically a UI. It interacts with Ripple network, so you are actually trading IOUs on XRP ledger. The volume is not related to gatehub but to XRP ledger volume.
  • There are multiple ways to get funds out. You can also buy on XRP ledger USD/BTC of Bitstamp and withdraw them there for free.
  • Also the SEPA from gatehub is basically free, I don't see why you say 2%,5.9% ad so on...
  • The funds don't "move using XRP"...

To let us help you you should tell us which IOUs you have and where you want to move them. 

Why cant u transfer xrp gatehub to xrp bitstamp..?

Share this post


Link to post
Share on other sites
33 minutes ago, tulo said:

Never said that, but he asked how to withdrawal IOUs, not XRP.

Sorry for misunderstanding but i am not very good with techs and havnt done lot of trading so just want to know if i got xrp in ripple wallet and i want to transfer them to my bitstamp wallet. The cheapest method will be to transfer them from  xrp gatehub  ripple wallet to bitstamp xrp address. And then sell them there. Right..?

Share this post


Link to post
Share on other sites
14 minutes ago, Rchopra said:

Sorry for misunderstanding but i am not very good with techs and havnt done lot of trading so just want to know if i got xrp in ripple wallet and i want to transfer them to my bitstamp wallet. The cheapest method will be to transfer them from  xrp gatehub  ripple wallet to bitstamp xrp address. And then sell them there. Right..?

or just stop overloading the exchange servers with this kind of BS moves which will only cost you money. Give them a breathe for incoming customers willing to buy...

Share this post


Link to post
Share on other sites
2 minutes ago, xrp_ins said:

or just stop overloading the exchange servers with this kind of BS moves which will only cost you money. Give them a breathe for incoming customers willing to buy...

Who the hell are u to tell others what to do...? Seems like u joined recently and are rude and high headed enough to not to mind ur own business and talk to people anyway u want. If u dont know or dont want to answer thr question easiest method will be to shutup and mind ur.own business, or members will report your behaviour for creating nuisance.

Share this post


Link to post
Share on other sites
48 minutes ago, xrp_ins said:

or just stop overloading the exchange servers with this kind of BS moves which will only cost you money. Give them a breathe for incoming customers willing to buy...

What about your BS message with attempt to bully  here, specially when the question was not even addressed to you .. ?  

Edited by RDS

Share this post


Link to post
Share on other sites
1 hour ago, Rchopra said:

Sorry for misunderstanding but i am not very good with techs and havnt done lot of trading so just want to know if i got xrp in ripple wallet and i want to transfer them to my bitstamp wallet. The cheapest method will be to transfer them from  xrp gatehub  ripple wallet to bitstamp xrp address. And then sell them there. Right..?

What is your Ripple wallet? BTW Bitstamp has a XRPL address for depositing XRP. A simple XRP payment to that address (check on Bitstamp-->Deposit the correct address) with your destination tag will make the work.

 

57 minutes ago, xrp_ins said:

or just stop overloading the exchange servers with this kind of BS moves which will only cost you money.

What? A XRP payment shouldn't overload any server. If they are overloaded it is better if they change work.

Share this post


Link to post
Share on other sites

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 account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...