eXch - instant exchange BTC / LN / XMR / LTC / ETH / ERC20 - page 11.

LoyceV

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Quote from: Igebotz on November 16, 2024, 04:03:49 AM

The min and max do not reflect the balance in reserves; they are fixed requirements. When I initiated the empty ETH reserve swap, the min and max figures were not 0.000-0.000

Let's see:
BTC > ETH: Reserves ETH 0.650010790152804052
min: 0.00003397 max: 0.04596453

Try again:
BTC > ETH: Reserves ETH 1.353085920452379964
min: 0.00003397 max: 0.04596453

Again:
BTC > ETH: Reserves ETH 10.439616784145300699
min: 0.00003395 max: 0.67393891

As expected, the Reserves change quickly. But unexpectedly, the "Reserves" don't match the "Max". It's not even close.

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it doesn't look good if the system allows more than the maximum required.

It's crypto: the user can deposit any amount they want, and there's no way for a site to set a maximum.

Igebotz

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Quote from: paid2 on November 15, 2024, 11:20:46 AM

2. Once you are on the order's page, you see the "min" and "max" amount possible to trade within their reserves, just after the deposit address:
---------
Of course if you send more coins than "max", you will have to wait until eXch has enough reserves, but it's quite clear on the order's page, so you should not be surprised. In any case if it happens and you don't want to wait you can just take a refund of your deposit.

Man, what are you saying? The min and max do not reflect the balance in reserves; they are fixed requirements. When I initiated the empty ETH reserve swap, the min and max figures were not 0.000-0.000, and it doesn't look good if the system allows more than the maximum required. The system could be improved with time, but for me; the encounter I had was sufficient reason to never return, at least for the time being. Thanks everyone and GL eXch

paid2

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Quote from: Igebotz on November 15, 2024, 11:02:36 AM

Quote from: LoyceV on November 15, 2024, 01:26:36 AM

I think there's even a warning for it.

There isn't; that is the entire point of this discussion. If a trade is initiated, there should be a warning tag and/or warnings for empty reserves. This is similar to a casino taking deposits while the hot wallet is empty for withdrawals, and clients are unable to withdraw. A simple warning tag for empty reserves should be implemented.

No there is a warning:

1. On the homepage, anyone can see the actual reserves before starting a new order:

2. Once you are on the order's page, you see the "min" and "max" amount possible to trade within their reserves, just after the deposit address:

Of course if you send more coins than "max", you will have to wait until eXch has enough reserves, but it's quite clear on the order's page, so you should not be surprised. In any case if it happens and you don't want to wait you can just take a refund of your deposit.

Quote from: BitcoinGirl.Club on November 15, 2024, 10:43:11 AM

Why would you even send your coin when your desired coin that you want to receive has no reserve?

Because of this:

Quote from: paid2 on November 14, 2024, 11:11:44 AM

Yes, the site allows you to create an order when reserves are empty. If you do it, this order would then be placed in a waiting queue until eXch has sufficient liquidity to process it. (a refund is always possible if it's too long)

Some people just want their backorder to be executed once there are enough liquidity and are not in a hurry.
Alternatively, it's always possible to set an alert on the app to be notified of reserves status..

Igebotz

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Quote from: LoyceV on November 15, 2024, 01:26:36 AM

I think there's even a warning for it.

There isn't; that is the entire point of this discussion. If a trade is initiated, there should be a warning tag and/or warnings for empty reserves. This is similar to a casino taking deposits while the hot wallet is empty for withdrawals, and clients are unable to withdraw. A simple warning tag for empty reserves should be implemented.

Quote from: BitcoinGirl.Club on November 15, 2024, 10:43:11 AM

Why would you even send your coin when your desired coin that you want to receive has no reserve?

I was brave enough not to execute the trade after noticing. However, the system should not have been designed to function in this way.

BitcoinGirl.Club

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Quote from: Igebotz on November 14, 2024, 05:25:59 PM

24 hours is too long for someone who needs an urgent swap to make a payment or pay bills; it would be preferable if the site declined trades if the X coin a client want to exchange for is empty, so we don't waste our time. Accepting my deposit when the reserve is empty does not make any sense to me. This is just my honest opinion on the project.

Why would you even send your coin when your desired coin that you want to receive has no reserve? If they were not mentioning the reserve before giving you the wallet address and status change after sending the coins then you have something to complain against them. You can always check their reserve of your desired coin just by scrolling down. They are not the only exchange. You always have other options.

LoyceV

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Quote from: Igebotz on November 14, 2024, 05:25:59 PM

Quote from: LoyceV on November 14, 2024, 11:09:43 AM

Every user who sells the coin you need is a liquidity provider Wink

The site says otherwise, it's provides it own liquidity

I think you're missing my point: their liquidity comes from users who exchange coins.

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isn't what makes them different from usual swap exchanges we know?

Yep. Most instant exchangers don't even mention the fact they use third parties.

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24 hours is too long for someone who needs an urgent swap to make a payment or pay bills; it would be preferable if the site declined trades if the X coin a client want to exchange for is empty, so we don't waste our time. Accepting my deposit when the reserve is empty does not make any sense to me. This is just my honest opinion on the project.

It depends on other users, it can take minutes, it can take a long time depending on the amount you need to exchange. I think most users appreciate the fact they can still exchange even though they'll receive their coins a bit later.
If you don't, then don't trade when reserves are empty. I think there's even a warning for it.

Igebotz

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Quote from: LoyceV on November 14, 2024, 11:09:43 AM

Every user who sells the coin you need is a liquidity provider Wink

The site says otherwise, it's provides it own liquidity, isn't what makes them different from usual swap exchanges we know?

Quote from: examplens on November 14, 2024, 12:10:07 PM

You always have the current balance of reserves on the page, so if you don't want to wait, you can always find which amount of currency can be swapped instantly.

Yes, glad I did, it saved me a lot of time. I often swap to USDT ( tron) but it's not available on the site, any reason on what?

dkbit98

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Just wondering if anyone ever tried to list eXch exchange to Coingecko, CoinMarketCap or other volume tracking websites?
All I can find is listing on Arkham website, but I can't find other exchanges there for comparison:
https://intel.arkm.com/explorer/entity/exch

examplens

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Quote from: Igebotz on November 14, 2024, 10:37:52 AM

The site reserves on most of assets are currently empty or lower; ETH is zero as of now, and I attempted to conduct a swap to ETH, but the system continues to allow given the fact that the ETH balance is empty. How is this feasible if the site does not use a third-party liquidity provider? Is it necessary for me to wait X days till reserves are topped before receiving my coins?

Precisely because exch does not use a third-party liquidity provider, but relies only on its own reserves, it happens that they do not have enough of certain currencies. This is currently happening with all currencies except Bitcoin, as there is significantly greater demand for ETH or USDT.
EXch has outgrown the basic status of an instant exchanger and is now widely used for trading purposes.

You always have the current balance of reserves on the page, so if you don't want to wait, you can always find which amount of currency can be swapped instantly.

paid2

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Quote from: Igebotz on November 14, 2024, 10:37:52 AM

The site reserves on most of assets are currently empty or lower; ETH is zero as of now, and I attempted to conduct a swap to ETH, but the system continues to allow given the fact that the ETH balance is empty. How is this feasible if the site does not use a third-party liquidity provider? Is it necessary for me to wait X days till reserves are topped before receiving my coins?

Yes, the site allows you to create an order when reserves are empty. If you do it, this order would then be placed in a waiting queue until eXch has sufficient liquidity to process it. (a refund is always possible if it's too long)

LoyceV

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Quote from: Igebotz on November 14, 2024, 10:37:52 AM

How is this feasible if the site does not use a third-party liquidity provider?

Every user who sells the coin you need is a liquidity provider Wink

Quote

Is it necessary for me to wait X days till reserves are topped before receiving my coins?

Usually, the 24h volume is an indicator of what to expect: there's ETH in Reserves already.

Igebotz

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Quote from: examplens on November 13, 2024, 05:24:51 PM

Quote from: LoyceV on November 13, 2024, 12:21:48 PM

Quote from: Igebotz on November 13, 2024, 12:15:00 PM

What's "refund address"

The address you want your deposit returned if something fails. This is not required.

It is also important to know that it is possible to add a refund address later. So, even in the event that the refund addy is forgotten and a problem arises, the user still has this option.

It is clearly emphasized on the exch site itself

Code:

Refund address is optional to create an order and can be provided later when needed, [u]however it can't be changed later once provided[/u]

The site reserves on most of assets are currently empty or lower; ETH is zero as of now, and I attempted to conduct a swap to ETH, but the system continues to allow given the fact that the ETH balance is empty. How is this feasible if the site does not use a third-party liquidity provider? Is it necessary for me to wait X days till reserves are topped before receiving my coins?

JayJuanGee

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Quote from: examplens on November 13, 2024, 10:37:29 AM

Quote from: SATWAT on November 13, 2024, 10:15:36 AM

This was expected as we all want "God bless Bitcoin"

I'm not sure what God has to do with Bitcoin and why it would matter to him if the value of Bitcoin goes up. I'm even somehow convinced that God doesn't have electricity and an application that monitors the crypto portfolio.

There are surely a lot of decent arguments to proclaim that bitcoin is way closer to god or god-like preferences than other kinds of currencies and/or assets in the sense that it is more of a neutral kind of an asset/currency.

Books and articles are written on the topic, so arguments are there to suggest the god-like characteristics of bitcoin (especially compared to manipulation and robbery that takes place through the issuance and seemingly purposeful debasement of fiat currencies) and they are not unreasonable arguments.

examplens

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Quote from: LoyceV on November 13, 2024, 12:21:48 PM

Quote from: Igebotz on November 13, 2024, 12:15:00 PM

What's "refund address"

The address you want your deposit returned if something fails. This is not required.

It is also important to know that it is possible to add a refund address later. So, even in the event that the refund addy is forgotten and a problem arises, the user still has this option.

It is clearly emphasized on the exch site itself

Code:

Refund address is optional to create an order and can be provided later when needed, [u]however it can't be changed later once provided[/u]

LoyceV

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Quote from: Igebotz on November 13, 2024, 12:15:00 PM

What's "refund address"

The address you want your deposit returned if something fails. This is not required.

Quote

"to address" ?

The address you want your money to go to after exchanging.

Igebotz

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Quote from: examplens on November 13, 2024, 10:37:29 AM

I'm not sure what God has to do with Bitcoin and why it would matter to him if the value of Bitcoin goes up. I'm even somehow convinced that God doesn't have electricity and an application that monitors the crypto portfolio.

Our ancestors sees everything, but nature controls everything on earth.

Quick question to the admin - I saw "Refund address" and "To address" while I was trying to swap some LTC to Bitcoin earlier today on the site, the setup looks complicated but the charge fee is better compared to other swap exchanges. What's "refund address" and "to address" ? Am I to provide two addresses?

examplens

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Quote from: LoyceV on November 13, 2024, 10:00:36 AM

~~Or: Bitcoin is outperforming all shitcoins, and people jump back into Bitcoin~~ No, wait, the opposite is happening.

I was just about to write you a reply. Wink

one thing happened, Bitcoin outperformed shitcoins.

Quote from: SATWAT on November 13, 2024, 10:15:36 AM

This was expected as we all want "God bless Bitcoin"

I'm not sure what God has to do with Bitcoin and why it would matter to him if the value of Bitcoin goes up. I'm even somehow convinced that God doesn't have electricity and an application that monitors the crypto portfolio.

SATWAT

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Quote from: LoyceV on November 13, 2024, 10:00:36 AM

Quote from: examplens on November 13, 2024, 07:38:17 AM

It seems that the sell of Bitcoin is much higher than the demand, a price drop is expected, I guess.

Or: Bitcoin is outperforming all shitcoins, and people jump back into Bitcoin Wink

This was expected as we all want "God bless Bitcoin"

LoyceV

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Quote from: examplens on November 13, 2024, 07:38:17 AM

It seems that the sell of Bitcoin is much higher than the demand, a price drop is expected, I guess.

Or: Bitcoin is outperforming all shitcoins, ~~and people jump back into Bitcoin~~ No, wait, the opposite is happening.

examplens

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I can't remember the last time there was such a small amount of other currencies in eXch reserves. Almost everything is in Bitcoin right now.
It seems that the sell of Bitcoin is much higher than the demand, a price drop is expected, I guess.

Topic: eXch - instant exchange BTC / LN / XMR / LTC / ETH / ERC20 - page 11. (Read 31203 times)