We were happy that the history of Bitcoin brought us relieve from centralized payment processors.
Again, we all were happy that this was the era of a 0.001 fee transaction. But why now? Who is wrong? I mean, why should I be charged $517 for a $1300 crypto transaction?
A crypto enthusiast by the name Matthew broke the jaw dripping news of being charged at a margin close to 1:3 ratio.
In his words,
I just sent a $1300 $BTC transaction from my @LedgerHQ and was charged a .14977 BTC FEE, about $517 in FEES!!
While Ledger is currently addressing the issue, what is more frightening is that the person he sent the money to only received .33 BTC to his Coinbase account.
Point of Arguments
This was a Hardware Wallet to an online wallet transaction – Ledger Wallet to a Coinbase wallet.
This rarely happens when it has to do with an online-to-online wallet transaction.
However, while other crypto enthusiast believes that it is normal, Matthew made is known that he has sent thousands of transactions and have never seen this.
Final Thoughts
While Ledger is on top of the issue, the take-home point is that this is not normal. I mean, there is a mix up somewhere. Why? There is no how a crypto transaction can be charged at such an enormous amount.
The confidence is that the TXID shows .147 BTC as "unspent".
So, the baseline is that this will be resolved sooner than later.
To confirm the confidence after a communication with the Ledger Team, below is what they said.