Apple Wants A Ridiculous 30% Gas Fee Cut On NFTs – Coinbase Exchange
In a Twitter thread made yesterday, December 1st, 2022, Coinbase Wallet explained why users can no longer seem to transfer their NFTs on the wallet’s iOS version anymore.
Coinbase said that Apple feels entitled to a sizable 30% of the gas fees and has insisted that they be paid using the iOS’s in-app purchase system. Owing to how impossible and ridiculous this demand is, Coinbase has implored Apple to reflect and correct its stance if it was an omission in the first place.
Apple Is Asking For The Impossible
iPhone users who have to use the iOS version of the Coinbase Wallet have no doubt had to deal with a great deal of inconvenience at least since the last release of the Coinbase Wallet app.
In a Twitter thread made on December 1st, Coinbase shed light on the situation and addressed the problem most iPhone users would have attributed to a glitch.
According to the tweet, it appears that the Apple company is quite asking for the impossible from the wallet. Apple reportedly wants a 30% cut of the total gas fees charged for sending NFTs.
It is not just that alone. Apple also wants the payment of the gas fees to be done through its in-app purchase system because it then makes it seamless for it to deduct the 30% it wants as soon as the money is paid.
Coinbase went on to demonstrate the absurdity of the situation because, considering how the blockchain framework works, giving in to Apple’s demand will defeat the whole blockchain purpose. Also, the handle stated that giving in to Apple’s demand is practically not possible as Apple’s in-app purchase system is not compatible with Crypto.
Given the situation, Coinbase Wallet has expressed its frustration and hopelessness and stated that the new development from Apple could have been a mistake and that, in order to make headway, the wallet is ready to hold a conversation with the management of Apple.
Coinbase Announces That Support For Bitcoin Cash & A Few Others Will Be On Hold
On Nov. 2022, because of low usage reasons, the Coinbase Wallet made an announcement that it would no longer support Bitcoin Cash and a couple of other cryptocurrencies in NFT Marketplaces.
XRP, Ethereum Classic, and Stellar Lumen fall under this category. The suspension is, however, only for a while, and should the situation change, things would remain as they were.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
