eXch - instant exchange BTC / LN / XMR / LTC / ETH / ERC20 - page 28.

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: Baadcaptain111 on July 24, 2024, 04:59:43 AM

Just saw now … excx.FAKE.ch scam site 🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️

That's a sneaky one! Try to report it to their registrar:

Code:

Domain name
excx.ch

Registrar
NETIM
av arthur notebart 264
FR-59160 Lille
Phone +33 972307470
[email protected]

DNSSEC
no

Name servers
adi.ns.cloudflare.com
dilbert.ns.cloudflare.com

First registration date
24 March 2024

Maybe they'll take it down if you report it for scamming/phishing.

Kramerc

sr. member

Activity: 397

Merit: 250

Quote from: LoyceV on July 24, 2024, 03:19:57 AM

Quote from: Kramerc on July 23, 2024, 01:09:36 PM

The lack of liquidity that exch has is due to them not being able to supply enough coins. They already have the buyers that are willing to pay 5%+ in fees and who eat up all the available supply in less than 24h, so what they need more is monero sellers to sell on exch (instead of some other places).

This (still) makes me believe Monero is highly undervalued.

Quote from: paid2 on July 23, 2024, 01:43:57 PM

The volume of XMR over the last 24 hours for eXch is 6776.91 .

I have the impression that eXch no longer really suffers from liquidity problems with XMR.

At the moment, XMR-reserves are less than 1% of the 24h volume. That confirms what has been posted before: any Monero that gets added quickly gets sold.

Monero on a CEX is not the same as Monero in your own wallet Wink

Nice to start the thought process. The "market" doesn't decide anything, it's simply market participants (usually market makers) with an incentive that decide the price of any asset indefinitely until some other big players decide to join in.

If liquidity moves over from CEXs to exch, then how is exch still having liquidity problems (to supply new coins)? What happens is that instead of leechers sucking the 5% profit from exch (because of supply problems), this gets into exch's pockets, while other market participants will profit off the sell on exch/buy on cex arbitrage.

Sounds like a win win.

bitmover

legendary

Activity: 2352

Merit: 6089

bitcoindata.science

Quote from: LoyceV on July 24, 2024, 03:19:57 AM

That's not really possible on an instant exchange. On "regular' exchanges, the market decides the price. On eXch, it's based on other regular exchanges. It wouldn't dare predict what would happen if eXch were to offer a higher price for Monero than other exchanges. It may lead to all liquidity on those exchanges being eaten by arbitrage traders, more Monero flowing into eXch, and the price spiraling upwards. Either way, I don't think it solves the liquidity problem. But that's just my own speculation of course.

Yeah, but for how long could that be maintained? Who will pay for the higher XMR price?

This is basically an order book, someone has to buy (in this case, exch itself if it doesnt use any third party exchange).

If they raise XMR price for 5%, theoretically they could use all of their other coins reserves to sustain that price for some time... but in the end of the day, when the reserves of other coins are drained, they would not be able to buy the same amount of those coins back

Baadcaptain111

newbie

Activity: 5

Merit: 2

Just saw now … excx.ch scam site 🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️

Baadcaptain111

newbie

Activity: 5

Merit: 2

I saved the letter of guarantee. I can see the wallet received my funds and are confirmed, the status at my website is still „awaiting input „

NotATether

legendary

Activity: 1568

Merit: 6660

bitcoincleanup.com / bitmixlist.org

Quote from: Baadcaptain111 on July 24, 2024, 03:59:12 AM

They have only email and simplex contact I tryed already both…

Depending on when the customer support is manned, you might have to wait a (very) long time for a support agent to answer you after the first reply they make.

I can't believe I have to write this, but in case anybody asks, no, this is not fearmongering!

_act_

legendary

Activity: 1106

Merit: 1337

Lightning network is good with small amount of BTC

Quote from: Baadcaptain111 on July 24, 2024, 03:59:12 AM

They have only email and simplex contact I tryed already both…

You will have letter of guarantee on the website after you sent the money to the address they provided you. To make it faster, include the letter of guarantee in the email. If you do not include it, they will still ask of it.

Quote from: Pmalek on July 24, 2024, 04:11:05 AM

How long has it been since you contacted their support? I would say give them up to 48 hours to respond. Don't forget that July/August is holiday season. People are on vacation and therefore you can expect delays with whatever you do. It's normal. I understand how you might feel, but eXch has thus far had a spotless reputation.

I think he has just sent them email and the other way to contact them. I hope they can solve the problem as fast as possible.

Pmalek

legendary

Activity: 2730

Merit: 7065

Quote from: Baadcaptain111 on July 24, 2024, 03:59:12 AM

They have only email and simplex contact I tryed already both…

How long has it been since you contacted their support? I would say give them up to 48 hours to respond. Don't forget that July/August is holiday season. People are on vacation and therefore you can expect delays with whatever you do. It's normal. I understand how you might feel, but eXch has thus far had a spotless reputation.

Baadcaptain111

newbie

Activity: 5

Merit: 2

They have only email and simplex contact I tryed already both…

_act_

legendary

Activity: 1106

Merit: 1337

Lightning network is good with small amount of BTC

Quote from: Baadcaptain111 on July 24, 2024, 03:11:47 AM

Answer please to ANN thread - I have problems with exchange at exch.cx

You suppose to have explained what happened on a single post than having it in short form. I saw you complaint on the topic that you posted before this post.

Quote from: ?? on ??

I sent 50 LTC to swap it in BTC at exch.cx the coins are confirmed already few hours ago. At the exch.cx site are the status still „waiting input“ I wrote already emails but didn’t got any answer..I tried also contact them at simplex…

Has the issue been solved?

If it has not been solved. You will see support at the right down corner of the site. If you do not see it, scroll down the site and check the right down corner of the site. Contact exch support and let us know once it is solved.

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: Kramerc on July 23, 2024, 01:09:36 PM

The lack of liquidity that exch has is due to them not being able to supply enough coins. They already have the buyers that are willing to pay 5%+ in fees and who eat up all the available supply in less than 24h, so what they need more is monero sellers to sell on exch (instead of some other places).

This (still) makes me believe Monero is highly undervalued.

Quote from: paid2 on July 23, 2024, 01:43:57 PM

The volume of XMR over the last 24 hours for eXch is 6776.91 .

I have the impression that eXch no longer really suffers from liquidity problems with XMR.

At the moment, XMR-reserves are less than 1% of the 24h volume. That confirms what has been posted before: any Monero that gets added quickly gets sold.

Monero on a CEX is not the same as Monero in your own wallet Wink

Baadcaptain111

newbie

Activity: 5

Merit: 2

Answer please to ANN thread - I have problems with exchange at exch.cx

examplens

legendary

Activity: 3514

Merit: 3585

Crypto Swap Exchange

Quote from: Kramerc on July 23, 2024, 01:55:04 PM

Quote from: paid2 on July 23, 2024, 01:43:57 PM

The volume of XMR over the last 24 hours for eXch is 6776.91 .

I have the impression that eXch no longer really suffers from liquidity problems with XMR.

On exchange volume is not indicative of liquidity problems, disposable coins are, or how easy it is for them to resupply. This is what is hard and hence why I made the initial post.

eXch is not an exclusive XMR exchange, so it cannot be expected to have unlimited XMR reserves. Especially if there are many more requests for buying than selling. Some centralized exchanges have announced the delisting of the XMR pair, plus here is an ideal way to anonymize crypto assets, considering that exch does not require KYC.
In the end, this only applies to XMR as the amount of ETH or LTC reserves has never been an issue

Kramerc

sr. member

Activity: 397

Merit: 250

Quote from: paid2 on July 23, 2024, 01:43:57 PM

Quote from: Kramerc on July 23, 2024, 01:09:36 PM

The lack of liquidity that exch has is due to them not being able to supply enough coins. They already have the buyers that are willing to pay 5%+ in fees and who eat up all the available supply in less than 24h, so what they need more is monero sellers to sell on exch (instead of some other places).

How do you incentivise people to sell on your exchange? By offering better prices.

The volume of XMR over the last 24 hours for eXch is 6776.91 .

I have the impression that eXch no longer really suffers from liquidity problems with XMR.

On exchange volume is not indicative of liquidity problems, disposable coins are, or how easy it is for them to resupply. This is what is hard and hence why I made the initial post.

paid2

hero member

Activity: 504

Merit: 1065

Crypto Swap Exchange

Quote from: Kramerc on July 23, 2024, 01:09:36 PM

The lack of liquidity that exch has is due to them not being able to supply enough coins. They already have the buyers that are willing to pay 5%+ in fees and who eat up all the available supply in less than 24h, so what they need more is monero sellers to sell on exch (instead of some other places).

How do you incentivise people to sell on your exchange? By offering better prices.

The volume of XMR over the last 24 hours for eXch is 6776.91 .

I have the impression that eXch no longer really suffers from liquidity problems with XMR.

Kramerc

sr. member

Activity: 397

Merit: 250

Quote from: bitmover on July 23, 2024, 07:40:21 AM

Quote from: Kramerc on July 23, 2024, 06:00:20 AM

Instead of using bisq's price as the de facto monero price, simply set the price yourselves at whatever you want it to be since you have more (real) volume than any monero exchange on the market, including the centralized exchanges.

This wont work for several reasons.

The first is that monero volume in the last 24h according to coinmarketcap was $140,037,146 XMR, and exch.cx only has 77 XMR in its reserves.

Exch.cx is just a small exchange. Kraken, Gate.io, HTX, Kucoin etc are much bigger

That volume is mostly fake, it would appear that some exchange called Whitebit had $25m of monero volume in the last 24h. The other exchanges that you mention have around 10-15k monero on their entire books, most being market maker coins (they don't get traded much).

The lack of liquidity that exch has is due to them not being able to supply enough coins. They already have the buyers that are willing to pay 5%+ in fees and who eat up all the available supply in less than 24h, so what they need more is monero sellers to sell on exch (instead of some other places).

How do you incentivise people to sell on your exchange? By offering better prices.

examplens

legendary

Activity: 3514

Merit: 3585

Crypto Swap Exchange

Quote from: joker_josue on July 23, 2024, 01:55:25 AM

I had a question - which may have even been answered (I apologize for the repetition).

I don't usually use the Bisq market, but being a P2P market, the exchange rate tends to be a little higher. Since eXch bases its price on the average value in the last few hours on Bisq. More or less, what is the % exchange rate difference compared to traditional exchanges?

I think that a big role is played by various trading bots, of which there are many more on traditional and centralized exchanges. I'm unsure if it makes sense to automate trading using bots on instant exchanges like eXch.
Most CEX also have their bots that generate fake volume, so they can manipulate the price up to a certain point.

nc50lc

legendary

Activity: 2646

Merit: 6681

Self-proclaimed Genius

Quote from: bitmover on July 23, 2024, 07:40:21 AM

-snip- and exch.cx only has 77 XMR in its reserves.

Just for additional context, it was about 100XMR 10 hours ago, then raised to about 250XMR just a few hours ago before going down to 70XMR.
For other Altcoin reserves and Bitcoin reserves, I haven't monitored them.

bitmover

legendary

Activity: 2352

Merit: 6089

bitcoindata.science

Quote from: Kramerc on July 23, 2024, 06:00:20 AM

Instead of using bisq's price as the de facto monero price, simply set the price yourselves at whatever you want it to be since you have more (real) volume than any monero exchange on the market, including the centralized exchanges.

This wont work for several reasons.

The first is that monero volume in the last 24h according to coinmarketcap was $140,037,146 XMR, and exch.cx only has 77 XMR in its reserves.

Exch.cx is just a small exchange. Kraken, Gate.io, HTX, Kucoin etc are much bigger

Kramerc

sr. member

Activity: 397

Merit: 250

I'm dropping by to give a one line solution to all of exch.cx's problems with monero liquidity and the lack of profit they apparently make despite charging buyers with 5% service fees. Here it goes:

Instead of using bisq's price as the de facto monero price, simply set the price yourselves at whatever you want it to be since you have more (real) volume than any monero exchange on the market, including the centralized exchanges.

Eg: current monero price on bisq is $162, exch.cx sets it's real price at $172. You can also lower buyer's fees by a lot now.

Topic: eXch - instant exchange BTC / LN / XMR / LTC / ETH / ERC20 - page 28. (Read 31281 times)