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Ripple XRP withdrawal fees 15 XRP at Slots.lv vs 0.00001 XRP network cost why 150000000% markup

JKLeader✔ verified624 views
17

Just checked Slots.lv withdrawal page and they're charging 15 XRP to withdraw Ripple. The actual XRP network fee is 0.00001 XRP (literally one cent). That's a 150,000,000% markup.

I've been tracking crypto fees across platforms since 2018 and this has to be the most extreme markup I've seen. Bitcoin fees are bad enough but at least there's some justification with network congestion. XRP transactions cost practically nothing and settle in 3-4 seconds.

Anyone know if other casinos have similar XRP fee structures? Considering moving my XRP somewhere else but want to verify this isn't industry standard.

5 replies

  1. 17

    That's absolutely insane. I stick to Bitcoin for withdrawals but was considering trying XRP for faster settlements. 15 XRP is like $7-8 depending on price. For a network that costs a penny to use.

    Have you tried reaching out to their support about it? Sometimes these fees are outdated from when XRP was worth more, though that still wouldn't justify this markup.

  2. 11
    ATAnna T.RegularAccepted answer

    I withdrew XRP from Wild Casino last month and they charged 2 XRP. Still a massive markup but way better than 15. The transaction showed up in my wallet within 10 seconds.

    Slots.lv might be using these high fees to discourage XRP withdrawals. Some casinos prefer certain cryptos and price others out of consideration.

  3. 7

    This is exactly why I only use Bitcoin despite the higher network fees. At least with BTC you know what you're getting - the fees are transparent and somewhat justified by network conditions.

    With these altcoin markups, casinos are basically charging whatever they want. 150 million percent markup is theft disguised as a service fee.

  4. 6
    JPJess P.Regular

    Check the fine print on your deposit method too. Some casinos require you to withdraw using the same crypto you deposited with. If you deposited XRP, you might be stuck with that 15 XRP fee.

    I learned this the hard way at another casino. Deposited with a low-fee coin, then got hit with massive withdrawal fees because I couldn't switch to a different crypto for the payout.

  5. 17

    Update: Contacted Slots.lv support and they confirmed the 15 XRP fee is current policy. No explanation for the markup beyond "operational costs."

    Going to test Wild Casino based on Anna's experience. 2 XRP is still 200,000x the network cost but at least it's not completely outrageous. Thanks for the alternative suggestion.

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