OpenLedger EOS Gateway Fee is Too Damn High (0.7 EOS!)
Here's the story.
I bought a small amount of EOS as I was interested in what I may develop on this DPoS blockchain with smart contract support. One of my interests once I get my other projects more or less self-sustaining is to create a gaming dApp that has collectibles not unlike CryptoKitties.
The next step
I finally decided to fire up my Nano Ledger and MEW to begin the process of transferring my EOS tokens but I learned how steep the Gateway fees are. I'm not sure precisely how long the fee has been 0.7 EOS but I do know that it has at least 2 months based on the following comment.
My conclusion
I have emailed the openledger email team and hope that they will consider reducing the fee. The contents of said email are as follows. If you are in the same boat, you may email them at [email protected]. It doesn't hurt to ask, right?
Good day,
I wanted to ask when the last time the EOS Gateway fee has been adjusted. It is currently at 0.7 EOS which is about $7 USD while the ETH gateway fee is 0.005 ETH (About $4.77) which is a 30% difference.
Being that EOS is currently an ERC20 token that has seen a significant rise in value, I humbly request that the gateway fee be adjusted to reflect.
Thank you for your time!
I'm hoping that they reduce these fees prior to the ICO end on June 1st. I would like to withdrawal without such a premium. I suspect the Gateway fee has not been updated since the dramatic rise in EOS's value in the last few months
Does anybody else believe these fees should be adjusted? I've heard that Binance charges 1 EOS to withdrawal. That's crazy!
Gif from Giphy
If you would like to tip me in EOS, here is my eth address. Thanks!
0x3f175c7386a4921d1567B3b9e98e10efFF242B7e
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Many of the fees are dodgy as hell, whilst others cheap as they should be. DOGE gateway fee is a jaw dropping 100 doge, yes that's not exactly a lot USD wise BUT that's a x100 mark up of what normal DOGE fee should be 1. BTC sitting at 0.008 gate fee, is erm just no as well when 0.00000001 fee clears.
I highly suspect some of these 'gate fees' are behaving like centralised exchange fees - ie. charge 0.008 btc, send transaction to miner with 0.00004 btc fee and pocket the rest.
Still that DOGE gateway fee is the highest of any fee I've seen anywhere ever in my entire life for anything. x100 mark up which is a whopping 9,900% over charge and a 9,800% profit gain from each transaction!!!!
@openledger @bloggersclub