Topic: eXch - instant exchange BTC / LN / XMR / LTC / ETH / ERC20 - page 60. (Read 32527 times)

I don't know what to think about this because I don't like to see bitcoin being divided and there is always a chance of getting different prices, higher aggregates and lower mixed.
After doing some testing I didn't see any difference in price on exch, but I was wondering if this could happen or not?

You can guarantee as much as you like, but centralized exchanges can still confiscate coins whenever they want  

Service update announcement

We now operate with two BTC pools - mixed and aggregated.

Mixed pool was the only pool we had before and serves as a mixing technique itself to preserve privacy. It consists of providing non-reusable addresses for deposits then forwarding them to other orders.

Aggregated pool will help to avoid suspension risks for users who interact with major centralized exchanges and services. We guarantee risk-fee coins coming from it. However, we always recommend Bisq to major exchanges.

Users are able to select which pool to use during order creation. For more information please read our Q&A section at https://exch.cx/faq#aggregation and one of our previous replies https://bitcointalksearch.org/topic/m.62692711 in this thread.

Thank you, it's very interesting.

In my opinion would have merited a dedicated topic.

This strategy is becoming more and more common, and few people talk about it accurately. For example, even the Antpool mining pool has just started to impose KYC on their users...  

It is important to do that, and i just checked the terms of service of the instant exchange in your post above and it is really voluminous (and may scare people from reading it), though i personally think is uneccessarily bulky for a crypto-only swap exchange. Anyway it is written in their TOS that they do cooperate with LE and can confiscate people's funds, so it is more like: we don't ask for kyc, but we can lock your funds and ask for it at anytime, if you want privacy, you should stay away from services like this.

In this post we will cover a popular scam tendency that is practiced by many instant exchanges called "shotgun KYC" or "ToS-scam".

ToS-scam is when an exchange lures an unsuspecting user to perform accountless exchange where a user isn't notified or warned about exchange's AML/KYC policies in a clear way (similar to fine print frauds), where a high risk-score would lead into a permanent loss of user's funds in case a user fails to provide extensive KYC and SoF (source of funds) information.

We consider this hostile practice a direct attack to cryptocurrency fungibility in general and warn all users against using such services.

Here is a clear example of an innocent user who lost their legally earned funds to an instant exchange that is known for practicing shotgun KYC with absolutely inhumane and tyrannical behaviour:



[oshi.at mirror] [talkimg mirror]

(Source: Bestchange, an exchange monitoring service that turned AML/KYC ToS-scams popular by encouraging exchanges to such practices and defending them)

Don't become a victim of such services! Always verify terms of service of an instant exchange prior to sending them any funds. If someone tries to sell you the idea of this being "normal", know that you are being fooled and misinformed on purpose. These people either don't understand cryptocurrency ethics and principles or it's very likely that they are paid to spread misinformation.

Moreover, a cryptocurrency-only exchange is not required by any means to comply with AML and FATF regulations. There is also a very misleading propaganda that all exchanges must comply, however, it's only true for cryptocurrency-fiat exchanges.

true... I blurred out some data out of habit... But then i noticed i left the QR code intact, and i didn't blur out the order number in the url... But then again, i was exchanging some spare change that could easily be tracked down to me anyways, an exchange isn't a mixer... I didn't bother to re-upload the images completely unblurred nor did i bother to blur some extra data (and re-upload).

mocacinno did an even simpler thing 
he blurred the addresses and amounts, while the order link in the browser was very clearly visible. [post] You don't even have to search, just enter the link

I am really of the opinion that perhaps we are burdening ourselves too much with hiding transactions, especially when they are this small and for the purpose of testing.

Cheers, updated. But tbh, I wasn't really trying too hard to hide it either so no real harm done.

@Rikafip: if you want to hide the addresses, you should hide the ORDER number too. Or click "Remove data". And the exact amount makes it easy to find too.

So, since I needed some LTC and had to test eXch, this was a perfect opportunity to give it a go. First time with smaller amount though just to see how things work.

Process is pretty simple and straightforward, as I entered the currency I want to exchange (BTC), the amount I want to change and currency I need (LTC).  I clicked on "calculate" to see the amount I was supposed to get and since everything looked ok, I proceeded with the exchange.



I sent the bitcoin to designated BTC address (since I wasn't in a hurry I used low fee), 5-6 minutes later BTC arrived to eXch address and few minutes more passed before LTC appeared in my wallet. Easy peasy.






Overall it was a straighforward and fast experience (tbh faster than I thought it will be) and I don't think that even total newbs could have any issues with the procedure  (at least I couldn't see them). One thing I would like to see is support for more popular alts like for example BNB which is popular and often used on the market.

Anyway, I will definitely use it again!

I just wrote the ann translation into my local board: https://bitcointalksearch.org/topic/exchcx-cara-cepat-menukar-btc-ln-xmr-ltc-eth-erc20-tanpa-kyc-5468375
I would be pleased if there were members from Indonesians who want to discuss eXch exchange there.

Yes, that exactly though. This is one of the advantages we should use eXch exchange.
Many people have doubts about connecting wallets to DEX because of incidents their wallets being hacked after being connected.

We don't need anything here, we don't need to register, login, and connect our wallet. This is a perfect breakthrough from the exchange which doesn't exist yet besides eXch.

Yeah, this is actually my first time using exchange like eXch, that has channel opening feature, I usually just use the generic (non-automated) centralized exchanges, so it's purely my lack of knowledge that make me assume it's without cost. And I know about the 'Calculate' feature, but I thought the additional fee for opening node channel is not included in that calculation. Thanks for clarifying.

There is a way to know about that fee before creating an order by clicking on 'Calculate' first:



Anyway, not sure why you assumed that channel opening might be free of cost, since it's an on-chain operation.

We did perform a market analysis before deploying this feature and there are abolutely no services that would open a channel to you automatically at no costs.

The price we have defined is far less than service's used in Electrum for submarine swaps, therefore we have the most accessible price as for today.


To cancel an order just abandon its page and it will be cancelled automatically.

Each order is completely isolated from another. In your case, creating another order with the same invoice but without a channel request would be safe, because our system process all orders separately and doesn't share any information between orders even when an address exists in multiple orders.

Hi, I would like to share my experience when using eXch.cx.

About the Interface

At first glance, I like the overall color scheme and the simplistic design, nothing fancy, on point. But if I can change something I would change the top bar (which is now white) to something darker/grayish, to make it less contrast, but that's just preference. As a new user, the first thing I did was reading the F.A.Q, and after I finished reading the F.AQ intuitively when I try to get back to the home page, I click the eXch Logo on the top left, and it did nothing.



Again, this is my personal experience, so I don't mean to say that everyone would have the same experience and preference, but personally I would suggest that the logo click could lead to the homepage. I understand that there is the 'Exchange' button that lead to a homepage, but make both work the same would not be a problem.

Other not very significant thing is that I wish the font size for the amount and address is bigger, the current size is ok, but bigger would be better.

At the bottom of the page, last section before the footer, there is numbers and currencies, I am not sure what that is, but if I would guess, it might the latest transaction processed, but I am not sure what is that, so my suggestion is to give tittle or just small text at the top of it what is that actually.




That's all for the Interface.

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About the Transaction Experience

So, I am about to swap Litecoin to Bitcoin, I initially want to use Lightning Network then there is a tick box 'Open a Channel', I checked it.



Then after I click exchange, there is a warning, about additional fees of 0.00001, I didn't know about it beforehand.



I think there are some people like me, that doesn't know requesting a node channel would require additional cost, I think it will be better if this was written on the checkbox explanation.

After I read that warning, I was trying to cancel the transaction, but I don't know how and I can't find any instruction on doing it. I worries in the possibility that if I just open a new transaction with the same address without checking the open node channel, it will still be considered as the previous transaction in which I requested node channel and I will be charged with additional fee.

I think there will be other possible scenario in which your customer mistakenly input the wrong refund address, or the transaction amount. If there is any way to cancel the transaction then I guess it's not easily found so I cant find it. If there is noway to immediately/intentionally cancel the transaction request, then I guess you could explain how long is the timespan before a transaction request is expired so users can request different transaction with the same address.

After that I choose to use different address that is not a lightning network, so just Bitcoin network, I choose the Medium confirmation time with 0.00008486 BTC fee, and it's fast enough for me, without any problem whatsoever.

So for the transaction is overall well, it's fast enough for almost for everyone I think. Not instantaneous like when swapping on other exchange, on other exchange we still need to wait for withdrawal confirmation by the exchange and then network confirmation which could be much longer, and the risk of those exchange holding our funds for whatever reason. Not to mention that eXch doesn't required any document. For me, and I think many people that don't do daily trading and speculating on crypto, the limited cryptocurrency supported is not a problem.

The final verdict for me, I would use this exchange again, and will recommend this to others.

I tested out eXch.cx... Here's my walktrough:

Calculating the exchange rate:



Creating an order:



Letter of Guarantee:



After  confirmation:



My Wallet:



So far, i can say that the whole experience was painless... The exchange rate was good for a no-KYC swap site... Everything went fast and smooth

The ToS give the estimated time for the support :


+1
I'll be happy to see USDT available via Polygon. More and more of my contacts are using this network and I'd be happy to be able to exchange USDT polygon-XMR

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OP, your donation to the Tor Project is awesome!

Hi fellows this is my review for the exchange, I will try to keep it more natural while discussing. So the Review is subdivided into the sections as follows;

UI Experience:

On the eXch what I found more interesting is the color scheme as it is very clean & appealing, a very simple and upfront design any beginner can easily interact with. Due to the clean UI, there was no buggy experience everything floats like water. A really great experience in the performance compared to the other DEXs on different networks.

A very decent representation of the Reserves and Volume on the same end, A node status bar on the header is a really good reminder for the system operations which makes it easy to analyze whether all of the nodes are running or not while executing the transaction. Most importantly providing the API, customizer can enjoy it.



Transaction Experience:

Taking into count before any wordic I had tried a routine transaction, For beginners to trades it is really simple to enter the amount and generate the exchange rate, and as per the platform announcement, the exchange rates are up-to-date from the Binance, and Kucoin market rates. Two modes, flat and dynamic you can choose accordingly. The refund addresses are optional and can be changed later on.

you can even execute the trade without fetching the market rates, the market rates will automatically get updated on the payment pages. Send payment to the generated address and the amount sent also gets adjusted with the exchange rates on the payment page. That's it the whole process takes a couple of seconds to execute and for the rest, it depends on the network traffic and the transaction fee mode chosen by the user.

Here is an SS for the transaction performed in a very recent time, the receiving amount is in progress due to the network confirmations. For rest, everything is Best. But I think there are just a few pairs available, there is need of more assets trade availability.



I had chosen the Slow-speed transaction I would recommend choosing the Fast one as it's going to be almost 40 minutes the transaction is still pending as there is no network confirmation yet.

Support Feedback:

eXch provides a ticket-based support system on its platform and for the alternative there is the Bitcointalk Forum profile and bits.media forum profile. A couple of Local languages are supported as well. Just for testing purposes, I did contact the support using the ticket system to test the average time in response and until now there's no response is going to be an hour and now I lost the page haha so need to generate a new one but I according to the team there will be response within 30 min and on the basis of availability of the agent. So it is better to use the official mail or forum PM for any emergency.


The overall experience with the exchange is really great. The UI is very clean and easy to use, and I haven't encountered any bugs except for the BTC/BTC pair issue that was reported earlier. I especially appreciate the API, which is highly recommended for cross-network trading. There is no third-party liquidity provider, but this is not a major concern as all of the reserves are directly owned by the platform. The reserves can be checked just below the transaction history.

Suggestions

I would really appreciate it if there was a wider range of networks to trade with. I also liked the clean UI and Cloudflare-free service, as well as the fact that there is no need to connect a wallet as with other DEXs.

Overall, I would highly recommend this exchange for its clean UI and Cloudflare-free service.

Then I am very sorry, I unfortunately overlooked this answer, I have in any case once in the German area created an announcement thread including instructions for the eXch Exchange for a quick exchange of coins/tokens.

I will also post the instructions here in the original announcement thread in English, but unfortunately I won't have time to do that today.

German Thread and instruction for eXch

Interesting.
If this technique you use is so good maybe we could use something similar for bitcointalk forum, if that can handle forum traffic and provide protection against ddos attacks.
I know several people have been looking for good cloudflare alternative, and I think that even theymos is not trilled with using cloudflare.

I will let him know, this is probably something on his end.
Thanks for quick reply and clear explanation.

You don't need to connect to eXch's node to send them a LN payment. That's the "Network" part of "Lightning Network".

I can confirm it now works as expected.