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Topic: eXch - instant exchange BTC / LN / XMR / LTC / ETH / ERC20 - page 50. (Read 30738 times)

legendary
Activity: 3514
Merit: 3585
Crypto Swap Exchange
Another theory is that a large holder switched to Monero, or simply makes usage of this internal function as a mixer. eXch is really attractive for an anonymous entity. No KYC and supports Tor. It reduces some risks of de-anonymization by just sending and receiving bitcoin via Tor Browser, than to use a less reviewed, more complicated software like Bisq. (And it might be cheaper as well)
Something is definitely happening with monero that is affecting all exchanges, and fee for monero remans around 5% on eXch.

Or maybe it's because of the new EU AML regulations and the announcement of the ban and restrictions on privacy coins and self-custody wallet payments. Although, strangely, this kind of reaction came already based on the announcement.

January 16, 2024: https://www.dlnews.com/articles/regulation/why-the-eu-is-about-to-outlaw-and-curb-key-crypto-features/#:~:text=The%20EU%20is%20taking%20aim,their%20due%20diligence%20on%20users.

legendary
Activity: 2212
Merit: 7064
Another theory is that a large holder switched to Monero, or simply makes usage of this internal function as a mixer. eXch is really attractive for an anonymous entity. No KYC and supports Tor. It reduces some risks of de-anonymization by just sending and receiving bitcoin via Tor Browser, than to use a less reviewed, more complicated software like Bisq. (And it might be cheaper as well)
Something is definitely happening with monero that is affecting all exchanges, and fee for monero remans around 5% on eXch.
Last I saw is the official ann from Coinex centralized exchange that is now asking for ID verification for depositing and withdrawing privacy coins Xmr, Beam, XHV, Oxen, Dero, Arrr, Zeph and Zano.
You can still use this exchange without verification for all other coins except for monero and other privacy coins  Tongue

Code:
Dear CoinEx users,

Based on CoinEx's AML policy, from now on, ID Verification must be completed before depositing or withdrawing Privacy Coins. The specific arrangements are as follows:


Privacy Coins

BEAM, XHV, OXEN, DERO, ARRR, XMR, ZEPH, ZANO


Attention

1. In order to use the deposit and withdrawal services normally, users holding the above Privacy Coins are requested to complete ID Verification as soon as possible.

2. The deposit request of Privacy Coins will not be credited instantly without ID verification. Once verified, the deposit will be automatically credited.

 
Risk Reminder

Crypto products are innovative investment products with large price fluctuations as well as high investment risks. Therefore, please evaluate and invest wisely based on your risk tolerance and financial resources.

 
CoinEx reserves the right of final interpretation of this announcement.

CoinEx Team

Jan 22, 2024
https://announcement.coinex.com/hc/en-us/articles/22884451766804-CoinEx-Has-Required-Mandatory-ID-Verification-for-Deposits-and-Withdrawals-of-Privacy-Coins
legendary
Activity: 1512
Merit: 7340
Farewell, Leo
Could this be because of the way the price is determined?
Another theory is that a large holder switched to Monero, or simply makes usage of this internal function as a mixer. eXch is really attractive for an anonymous entity. No KYC and supports Tor. It reduces some risks of de-anonymization by just sending and receiving bitcoin via Tor Browser, than to use a less reviewed, more complicated software like Bisq. (And it might be cheaper as well)
legendary
Activity: 2212
Merit: 7064
Could this be because of the way the price is determined?
I don't know, but I heard several reports from people who use big centralized exchanges like MEXC that some of them are unable to withdraw monero and they have some network error message,
probably because exchanges don't have those coins, so all this exchange rates are just imaginary numbers on the screen.
More correct rates can also be found on bisq.markets, but I would like to see devs/owners return to the forum and explain it better.
legendary
Activity: 3290
Merit: 16489
Thick-Skinned Gang Leader and Golden Feather 2021
I think there is a big shortage of monero for a while
Could this be because of the way the price is determined?
Current rate is a median value based on the latest trading data of the following markets: Binance, OKEX, Kraken
Coinmarketcap shows the 24h trading volume for Bitcoin/Monero on those echanges is about $4M. The eXch volume on this pair is almost half of that. Normally, on an exchange, if demand for a coin goes up, the price shifts to match supply and demand. Since eXch doesn't influence the price pair, that doesn't happen.
hero member
Activity: 560
Merit: 1060
It's the same for me right now  Embarrassed
Flat rate is 5.5%, Dynamic rate is 5% and I tried entering different amounts of BTC with same result.

I think there is a big shortage of monero for a while, but you can search for alternative exchanges on Orangefren and Trocador.

I confirm I get the same rates. It must be a shortage, or at least this is my only reasonable explanation. Don't forget that most CEXs don't trade XMR, so XMR flows in the market are limited in general.
legendary
Activity: 2212
Merit: 7064
Rate increased from 0.5% to 5% ?!?!
It's the same for me right now  Embarrassed
Flat rate is 5.5%, Dynamic rate is 5% and I tried entering different amounts of BTC with same result.
In opposite direction when exchanging XMR to BTC fees are much lower, 1% and 0.5%




Small workaround is to use other altcoins first and than swap them to monero, but ethereum to xmr also has 5.5% and 5% fee.
I think there is a big shortage of monero for a while, but you can search for alternative exchanges on Orangefren and Trocador.

legendary
Activity: 3906
Merit: 6249
Decentralization Maximalist
I saw the increase to 5%/5.5% too. It seems to be however only for the Bitcoin -> Monero trading pair. XMR -> BTC and also other pairs like BTC -> LTC are not affected.

I noticed that XMR reserves are usually quite low as this seems to be the most attractive trading pair (for quite obvious reasons). This might be the reason for the fee increase, maybe to get funds to purchase new XMR reserves?
hero member
Activity: 504
Merit: 1065
Crypto Swap Exchange
Rate increased from 0.5% to 5% ?!?!

What ?

Nothing changed from my side:
newbie
Activity: 3
Merit: 0
Rate increased from 0.5% to 5% ?!?!
legendary
Activity: 2212
Merit: 7064
...
Hi eXch.cx
I hope you are you alive and well.
What kind of support are you using this days and is posted SimpleX chat connection link working or nor for direct communication (https://exch.cx/support) ??
I am getting some network errors in eXch mobile app.
hero member
Activity: 560
Merit: 1060
For now 24h XMR volume seems to be fine on eXch: 12k XMR


I take responsibility for some of them  Tongue

hero member
Activity: 504
Merit: 1065
Crypto Swap Exchange
Bump  Smiley



Nothing very useful but I laughed when I saw the following list:


Cannot believe changenow.io and eXch are on the same boat in his mind. "these will die off or remove priv coins" lol

For now 24h XMR volume seems to be fine on eXch: 12k XMR
legendary
Activity: 3514
Merit: 3585
Crypto Swap Exchange
Hello.
Is btc exchange working right now even with high fees? Is there any limitation to the service?
I will try to use when fees are lower than 50sat/vbyte
Thank you.

When converting to BTC, in the case where exch sends Bitcoin, you have the option of choosing the speed of the transaction.
Of course, the fee you will pay also depends on that.

Here is at current moment
legendary
Activity: 2352
Merit: 6089
bitcoindata.science
Hello.
Is btc exchange working right now even with high fees? Is there any limitation to the service?
I will try to use when fees are lower than 50sat/vbyte
Thank you.
hero member
Activity: 2338
Merit: 757
Top-tier crypto casino and sportsbook
When a refund may be required?

A refund request state can be triggered in some situations such as:

a) your deposit took too much time to confirm and the amount you planned to receive was sent to some order that was quicker and drained the necessary reserve required by your order, since our system does not reserve output amounts in the "CONFIRMING INPUT" state for coins that may take a lot of time to confirm and are prone to double-spending *
b) your BTCLN invoice is unpayable
c) race condition with other order(s) that took your planned amount of reserve at the same time *
d) a node/wallet responsible for payout suddenly crashed or is not responsive *
I was hoping that you would add another possibility, which I consider to be a possibility, especially for less experienced users, which relates to transactions that occur by mistake. This means, for example, that he uses the Ethereum deposit address and deposits a token on it. These incidents are often repeated, and platform systems exempt themselves from responsibility, and it is not possible to blame them for abandoning assistance to one of their customers, especially since this possibility of error is mentioned in the terms of use.

Why is it optional during the order creation?

Some users prefer not to bother providing the refund address during the address creation, since mostly it's not required. Doing this extra step for providing a refund address during the order creation is viewed as time-consuming for some people. This is however their responsibility to keep their order's URL in secret and monitor the order to avoid a scenario when someone who they shared the order ID with would take a refund on their behalf, since any refund address can be entered if it wasn't defined during the order creation process.
I expect that experienced members do not care about filling all the fields because it is always obvious that the refund address is the same address from which the deposit was made. But the matter becomes more dangerous with less experienced customers, since a large percentage of them make deposits directly from other platforms, that is, from one of the addresses of that platform and not from a personal address.
legendary
Activity: 1680
Merit: 6524
Fully-fledged Merit Cycler|Spambuster'23|Pie Baker
Talking about translations, I noticed that the French section didn't have a translation of this ANN.

This has now been done

Great job, paid2! Let's hope that your translation will be added soon to OP!
Now OP is translated in 6 foreign languages!



Service announcement: eXch Android app is there!

Do you intend to try to submit the app to Google Play as well?
hero member
Activity: 504
Merit: 1065
Crypto Swap Exchange
Quote from: AliveNFT
[...]
Yesterday i translated exch ANN into Russian local board but it was deleted.. No idea why
Of course i left every single link and mentioned that this is only translate.
Perhaps because I did not coordinate with you, but I apologize in advance.
screenshot of guys that's sent me merit for translate.
[...]

Talking about translations, I noticed that the French section didn't have a translation of this ANN.

This has now been done, and I hope that French-speaking users will be interested  Cheesy

eXch - échangez instantanément BTC / LN / XMR / LTC / ETH / ERC20
full member
Activity: 124
Merit: 1129
[...]
What confuses me is entering the Refund address, which is not mandatory, but can be added later. However, during the process, I did not have the opportunity to enter it afterwards. Did I overlook it and why is it not mandatory? If a refund of the address was required, would I have to request a refund from support and what does that process look like?
[...]

The way it's designed is just a question of convenience and flexibility.

I will try to describe how it works in full in this brief FAQ:


How it works?

If you don't provide a refund address during the order creation process, you will be able to provide it later *if* and *when* it's needed.

The posterior refund address insertion can be only made when the page asks for it and it's a fully automatic process that doesn't require an operator intervention.


When a refund may be required?

A refund request state can be triggered in some situations such as:

a) your deposit took too much time to confirm and the amount you planned to receive was sent to some order that was quicker and drained the necessary reserve required by your order, since our system does not reserve output amounts in the "CONFIRMING INPUT" state for coins that may take a lot of time to confirm and are prone to double-spending *
b) your BTCLN invoice is unpayable
c) race condition with other order(s) that took your planned amount of reserve at the same time *
d) a node/wallet responsible for payout suddenly crashed or is not responsive *
 
and any other unforeseen situations.

* refund is optional in these cases and offered to a user in-order, since under these circumstances the order will turn into a backorder and await for a necessary reserves to be executed


Why is it optional during the order creation?

Some users prefer not to bother providing the refund address during the address creation, since mostly it's not required. Doing this extra step for providing a refund address during the order creation is viewed as time-consuming for some people. This is however their responsibility to keep their order's URL in secret and monitor the order to avoid a scenario when someone who they shared the order ID with would take a refund on their behalf, since any refund address can be entered if it wasn't defined during the order creation process.

Some users don't mind taking all the steps to fill all the fields during the order creation, which is a most safe mode of creating an order.

Every user has its individual views on the order creation process, therefore we try to cover all possible situations.

I always thought that Refund addresses were used only when exchanging XMR.

A refund can be provided for any currency.

What confuses me is entering the Refund address, which is not mandatory, but can be added later. However, during the process, I did not have the opportunity to enter it afterwards. Did I overlook it and why is it not mandatory? If a refund of the address was required, would I have to request a refund from support and what does that process look like?
If you did not include a refund address during the transaction process and there is a need for eXch to refund you, it would be sent to the address that you used to deposit the funds. In other words, if you fail to include a refund address, your deposit address becomes your refund address.

Your answer is mostly correct, except we do not detect origin addresses but instead offer a user to input it by themselves. However what you said still can be done under some marginal circumstances when a user needs to be refunded but we do not have any refund address on file and the user is not reachable for a long time, which in a such case would be a manual refund operation (except for Monero and LN deposits).

[...]
Is there some shortage of xmr at the moment?
[...]

Yes, there was for some days due to the amount of backorders totalling over 8000 XMR

Quote from: aliveNFT
[...]
Yesterday i translated exch ANN into Russian local board but it was deleted.. No idea why
Of course i left every single link and mentioned that this is only translate.
Perhaps because I did not coordinate with you, but I apologize in advance.
screenshot of guys that's sent me merit for translate.
[...]

We are very grateful to you that you have spent some time translating our topic to Russian, since a Russian translation is a very important asset that was lacking over there for a long time.

However we have no information on why your topic was deleted. Perhaps this should be addressed to moderators of the local board you have posted it in.

EDIT:

Turned out there is a whole thread in the Russian local board existing for some time already: https://bitcointalksearch.org/topic/exch-btc-xmr-ltc-eth-erc20-5464590

Special thanks to safar1980, klarki, Symmetrick and others for active participation in that thread. We have a very large russian-speaking audience across our customers and this is for sure a very valuable asset on this forum. Added it to the original post.
legendary
Activity: 994
Merit: 1089
Wheel of Whales 🐳
What confuses me is entering the Refund address, which is not mandatory, but can be added later. However, during the process, I did not have the opportunity to enter it afterwards. Did I overlook it and why is it not mandatory? If a refund of the address was required, would I have to request a refund from support and what does that process look like?
If you did not include a refund address during the transaction process and there is a need for eXch to refund you, it would be sent to the address that you used to deposit the funds. In other words, if you fail to include a refund address, your deposit address becomes your refund address.
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