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Topic: Fryx Finance - An open-source Monero/Bitcoin exchange. (Read 475 times)

copper member
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Review:
I came to know about the site https://fryx.finance/ from bitcointalk. I have opened their website and I was surprised to see the simplicity of the homepage of the site https://fryx.finance/ It shows like the below image:

The home page is the same as the buy Monero page. It is good but it could be better if there is another page called the home page. And we could then learn about the site/service first then we could visit the buy Monero page. Also, as we have to click on the sell Monero page and we have to click on the sell Monero page then why we will not click on the buy Monero page? Also as there is a register/signup page as well as a login/sign-in page I think they should have a page called the homepage/About us page. Anyway, it has a good side too as we are able to see the buy Monero page directly once we open the page.

Fees:

Then I visited the page called fees. I noticed they have three types of fees.
1. Trading fees (The trading fee is 0.2% which is good as it will charge 1 Monero if we trade 1000$ then they will charge only 2$.)
2. BTC withdrawal fees (Btc Withdrawal fee is 0.0001BTC which is more than 2$ for now. While coinbase and many more sites take lower fees than this. In this case I think fees should be lowered if possible.)
3. Monero Withdrawal fees. (Monero withdrawal fees are too low it is just awesome.)

Register/Login:
It is too simple to create an account on this site. It requires just to enter email and need to verify from email. And the same for login. It does not require any password to signup/log in.
2FA:
This site has no user preference for extra security. If for any reason someone gets access email address then s/he can misuse the fund from this site. As this site has no extra security. I think there should have extra security for the users eg: google authenticator/phone verification. Though the sites are more simple for not using the extra security option.

Trades: Anyone can trade from this site without creating any account/without login into the account. So, this site will not collect any information if we do not create an account. We can trade anonymously which is the main purpose of creating bitcoin/crypto. I love this site for this anonymous service.

Peer: The site has only one peer BTC to XMR/ XMR to BTC. So, many users will not feel comfortable as there is no other trading option. In this case, it will be better if the site can add more peers which will encourage a lot of users to use the service.

Trading rate: While anyone will use the service to buy/sell anything the user should know the rate before the buy/sell order. But I could not see such an option before signing in to the account.  Though I can see after login into the account that I have to mention my desired rate. I think it will discourage new users to use the service from this site.

Terms and Conditions: The site has not mentioned any terms and conditions. There is nowhere mentioned how many confirmations are required to be approved a transaction neither for BTC nor for XMR.

Contact information:
There is no contact information. If any user faces any problem using the service then the user has nothing to do. As the site has no contact information. The site should have at least an email/contact form to contact if any user has any queries.

Social Media Service:
Every site needs to promote its service other wise who does not promote their service will not be able to reach their users. Though it can be handled via various types of marketing. Yet nowadays social media is common. So, adding social media eg Facebook/Twitter will be another good sign for the site.

Mobile Friendly: I have tried to see the feature through mobile and I saw it is mobile friendly.

To conclude I want to say that every site might have few restrictions, but this site has too. Yet based on the service they are providing, I want to say that it is an awesome service. Adding/removing a few more things will make the site more user-friendly.


legendary
Activity: 3500
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FRYX finance review

Initial notes
* I’ve replaced in this review the API key, addresses and so on with not-too-random strings, they're not be valid addresses, for example, don’t worry about that.
* I should have been hiding/replacing better some numbers too, but I guess that I'll just mix some more coins and we're good.
* This has ended up being a mix between a review and a test session after all.
* I guess that I should have done some more re-reads and checks on my writing, but I think that's not so bad.

First impression
The first impression was pleasant, the UI is nice, although a bit simple, but that’s not a problem.

What I’m feeling that’s missing is a small tutorial page, made without any need to login or deposit. At first I was not even certain it’s a standard p2p exchange or an OTC exchange, or both. So it could help to have a small page with what a newbie should do. The only documentation – the API page – can also contribute to the confusion (since /orders tells about user’s open orders). I learned while using that it’s basically both.

Also the clear web page doesn’t show – or at least I didn’t find – any onion address, although you clearly have one (or two).
So I’ve done all the tests on clear net, which may be a bit unusual for BTC-XMR trades.

Operations: Buying Monero without an account
I wanted, for a change, to start with “Sell Monero”, but for small test amounts the 0.0001 BTC withdrawal fee is high (at least compared to 0.0001 XMR for the other side). It’s not a problem per se, since centralized exchanges are even more expensive, still, it may worth weighting this.

The approximative price conversion was not too bad though, at least at the first glance.

Since for the depositing I’ve made another “chapter”, so I’ll continue with the rest.
What I feel like I’m missing is a session key. Normally it should not be necessary, still, if one has been using a low fee, or the blocks are slow, and the user wants to come back to see the status… he cannot. It could be also useful to track the order in case of errors. Even more, the platform is actually using such a session key and it’s visible in the URL, so it only needs to be added to the UI for the user to copy it if he wants to.

As soon as the 5th confirmation has come, the XMR was sent to my wallet pretty much instantly.



Depositing BTC
As soon as my bitcoin transaction got broadcasted, it was shown on FRYX finance page, which is nice and reassuring (compared, for example, to pages showing nothing until the first confirmation).



I think that the number of confirmations should depends on the amount to be sent. I find 5 confirmations for 5$ amount a bit of overkill. But that’s up to service owner after all…

Account in UI
Creating a new account works easily, even with temporary mail server addresses. I like that!
Interestingly there’s no password required (basically you just tell your email address and that's all). Strangely the workflow is not much different between creating a new account and logging it to that account. But it’s okay.
On the other hand, maybe it would be nice to also offer the account’s API key somewhere I’m not much of an API trader, so I don’t know if it’s OK or not, for me it would have been nice to not make 3 deposits and 3 withdrawals while trying out the system (no-user, user-UI, user-API).

The UI, again, is simple, but it seems to have all that’s needed.
I would recommend though that OP is considering an automatic log out after a certain amount of time with no new pages opened. It’s a pretty common security practice and it should not hurt.

Depositing Monero (to account)
The deposit was visible on the website (only) after the first confirmation. I am not that much of an XMR user, I don’t know if it’s normal or not (at receiving XMR my wallet has shown the new amount instantly). However, confirmations are not so slow, so it’s okay.



There are 25 confirmations needed until the account is credited. Maybe same discussion applies like for Bitcoin for the small amounts.
After the 25 confirmations the amount was visible in the balances tab.



Trading
There are no orders visible, not even the default orders the platform offers, hence for somebody who doesn’t know the numbers from API it may be difficult (at least at start), depending on the implementation.
I’ve got the numbers from API, I’ve done the math and made my order. Since I’ve used (intentionally) the sell price from the API, my order is visible, but not filled.



I’ve canceled it and made a new trade order, with the current buy price.
The order got filled instantly and instead of the “A new order was created with order ID ...” text, now I’ve got “The order was filled”. Also the balances are updated in the other tab.



It worth mentioning that there are a bit too many digits there…

Withdrawing from account
Here a “max amount” button would be nice. Also it’s not clear whether here we fill the amount before or after the withdrawal fee… I’ve put there my whole balance. I’ve got error: invalid amount. Of course, it’s because of the too many digits and this should not happen.



When I’ve set a correct amount (with 8 decimals), I’ve got the message that the request was successfully submitted. Within seconds my bitcoin wallet has seen the unconfirmed incoming transaction.

Using the API
I’ve used the API with Postman under Windows, I’ve bought some Monero too for the tests. I repeat, I am not an API trader, so some of my conclusions may be wrong.

Getting the order book
https://fryx.finance/order_book?market=XMRBTC
Code:
{
    "buy": [
        {
            "executed": "0E-18",
            "price": "0.008084340000000000",
            "volume": "11.233281562737444779"
        }
    ],
    "sell": [
        {
            "executed": "0E-18",
            "price": "0.008247660000000000",
            "volume": "9.197584532662045095"
        }
    ]
}

The result is pretty much meaningless to me. OK, the price can help, but the exchange’s volume… is it useful or it’s the maximum amount to work with? I don’t think that maximum is 9 or 11 XMR. Or is everything posted in BTC?!
The executed tells nothing useful (at least at start), plus the format is not nice (I don’t know if the problem comes from the platform or Postman).

Creating an user
Actually this creates an API key, not an user, since there’s no relation with the user from UI.
https://fryx.finance/new_user
Code:
{
    "api_key": "irTkrTkrTkrTkrTkrTkrTk"
}

Depositing BTC; balances
https://fryx.finance/deposit?api_key=irTkrTkrTkrTkrTkrTkrTk&asset=BTC
Code:
{
    "address": "bc1qabcabcabcabcabcabcabcabcabcabcabcabcab"
}

https://fryx.finance/balances?api_key=irTkrTkrTkrTkrTkrTkrTk
Code:
{
    "BTC": "0E-18",
    "XMR": "0E-18"
}

All nice, but while depositing the balances stay empty until… when? I guessed that’s 5 confirmations, but no info/documentation, no progress, nothing.
As soon as the 5 confirmations were done, the account got credited and the balance visible in the API.
I advise a better approach here, from progress report to the block number when the accoutn is expected to be credited, or even better, maybe some sort of callback so the one implementing this doesn’t have to keep doing calls.
I will add that 18 digits after the decimal point may not be nedeed for Bitcoin (and may freak out some people).

Order book, buy, sell cancel order
Buy: the API documentation would need to tell better what one is buying and what is one selling (yes, I know that the pair is XMRBTC, but more clarity never hurts).
Well… here it gets complicated, or I am overthinking it. As I see it, one can make an order at the desired price and that may or may not be filled, like in normal exchanges, but if he wants to do it at the current market price he has to call /orderbook and do calculations.
Maybe a “get me XMR for this amount of BTC at market price” and “get me BTC for this amount of XMR at market price” API calls can also be of help.

Order book was:
https://fryx.finance/order_book?market=XMRBTC
Code:
{
    "buy": [
        {
            "executed": "0E-18",
            "price": "0.008040285000000000",
            "volume": "11.294831895747580133"
        }
    ],
    "sell": [
        {
            "executed": "0E-18",
            "price": "0.008202715000000000",
            "volume": "9.197584532662045095"
        }
    ]
}

Although using Excel, my first order was not OK:
https://fryx.finance/buy?api_key=irTkrTkrTkrTkrTkrTkrTk&market=XMRBTC&volume=0.0248249906564257&price=0.008040285000000000
Code:
{
    "order_id": 1018
}

Hence I canceled the order and tried again.
https://fryx.finance/cancel?api_key=irTkrTkrTkrTkrTkrTkrTk&order_id=1018
Code:
{
    "success": true
}

Funny enough, after an order of 0.0002 BTC that was aborted I ended up with 0.000199999….BTC; this looks ugly, sorry.

After more tries in Excel and copy-paste errors getting me to insufficient funds error, I finally got success instead of order ID at buying XMR from API.

https://fryx.finance/buy?api_key=irTkrTkrTkrTkrTkrTkrTk&market=XMRBTC&volume=0.0243334066830312&price=0.008202715
Code:
{
    "success": true
}

The balances now show my new XMR and also some dust BTC (under 1 satoshi, but with your API doing this automatically dust would not happen); but the numbers are pretty much as expected.

Withdrawing
After reporting a bug in the API documentation (the address parameter was missing), the documentation was updated nicely and also the meaning of the amount was cleared up there (“total withdrawn is amount-withdrawal fee”).
A small problem was that when I’ve copied the amount I had in balances, I’ve got:

https://fryx.finance/withdraw?api_key=irTkrTkrTkrTkrTkrTkrTk&asset=XMR&address=89xyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyz&amount=0.024333406683031200
Code:
{
    "error": "Invalid amount"
}

When I’ve cut the amount to 12 digits after the decimal point, I was OK.

https://fryx.finance/withdraw?api_key=irTkrTkrTkrTkrTkrTkrTk&asset=XMR&address=89xyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyzxyz&amount=0.024333406683
Code:
{
    "success": true
}

And the transaction was instantly visible in my Monero wallet.

Again, I will remind that normally, after all operations done, including the withdrawals, this kind of balances may look a bit bad:

Code:
{
    "BTC": "7.99999998E-10",
    "XMR": "3.1200E-14"
}

Conclusions

The platform has a nice and easy interface and the OTC trading is simple and works perfectly.
The account and the API could go together and they both need small touches here and there to make users’ life easier. Here p2p trading seems to be also available, but the platform is too young and its missing, at least for now, larger order book (with more buy and sell orders).
copper member
Activity: 42
Merit: 66
@jackmurray
I am testing out the API too for the review and I've got a problem.
I've deposited BTC. OK.
I've traded with API for XMR. OK.
I want to withdraw the XMR and the parameters are api_key, asset, amount.
So... where I put my address where I want the XMR withdrawn to? Shouldn't also be a parameter for that? Is it a bug or I'm missing something?


Yep you're right, the API also takes address, I've added that to the docs now.
legendary
Activity: 3500
Merit: 6205
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@jackmurray
I am testing out the API too for the review and I've got a problem.
I've deposited BTC. OK.
I've traded with API for XMR. OK.
I want to withdraw the XMR and the parameters are api_key, asset, amount.
So... where I put my address where I want the XMR withdrawn to? Shouldn't also be a parameter for that? Is it a bug or I'm missing something?
legendary
Activity: 2702
Merit: 2645
Farewell LEO: o_e_l_e_o
BitcoinGirl.Club review

I tested both Buy Monero and Sell Monero. The operations were as expected. It took me a whole day to setup the Monero wallet though and then testing the service.

The first impression of the site was very boring. I will discuss about design too on the section. If I was not paid for using the service then may be I skipped the site because of the first look. There are many other currency exchange sites, the design can be improved by taking inspiration from them. For any theme my first preference is Themeforest. You will have enough themes to chose from or to take inspiration.

There are no need of separate menu or pages for buy and sell. The home page will have a section for both buy and sell, fee explaining, FAQ and everything else can be in one page. API can have a separate page or even it can be on the same home page. Only a login/register menu could be in the menu section which will bring a light-box and after submitting the date it will bring the users on the same home page with the information needed for logged in users. You are missing Term and Privacy page. For a business it's the only thing that protect your ass.

The site is not friendly at all. I have no idea how much is my conversion rate. There should be a ticker which will update the conversion rate I am expecting and lock the rate for x amount of time. 5 minutes or 10 minutes. When I am using the input form for the amount of Monero to buy or sell, another label should show me how much I am receiving as the desire currency including the fees that will be taken off. The whole thing should be without submitting date in the server, instant on the client side. Once I am happy then I am supposed to give my receiving address and refunding address. Right now without knowing anything I need to do whole lot of works to find my addresses and then check the next page without knowing if I will be happy with your exchange rate.

Operation wise I felt everything was okay. It did not trigger any error for me. I am not very good at numbers especially when it's working with decimals. When I bought the Monero I did not check how much I am receiving, just sent the amount that I was given to test the system. But when I was selling the received Monero I was able to take a screenshot of the update page (attached below). And the btc amount was showing on the update page was not the same as the btc I received. It was a bit less. The testing was using very small amount but for large amounts I don't know how big the difference can be. Again a converter before doing the conversion will help the users to understand what they give and what they receive.



Overall, operationally the site is working like any other conversion sites, but the entire experience can be improved with more user friendly features. Here is a rating for different criteria I was able to divide. It's in out of 5 scale.
First impression: 2/5
Design: 1/5
User friendliness: 1/5
Operation: 5/5

P.S: One very important step I was missing is to have a tracking code or number or reference to use to restore the session in case I close my current browser while I am waiting for the desire coin to arrive.
legendary
Activity: 3248
Merit: 3098
I tested Fryx Finance from my windows device, and here are my first impressions.

There is no need for any registration to make a successful exchange. Even there is a register/login option.
btw. After registration, there is no link or navigation button to the Buy Monero or Sell Monero pages.



I would agree with the previous comments, the site is really simple and works quite easily. However, it is more than necessary to improve the user experience. I'm not sure which is the input field, which is a button and which is just an informational part.

I fill orders to buy 0.05 XMR, and 30 minutes after sending the recommended amount of BTC I got exactly 0.05028531 on my Monero address.
here I would consider adding information about the current exchange rate, sounds more transparent.
Now, I don't know anything. I must have to calculate how I cost me this transaction and which rate is used. I believe that it is not a demanding part to make, but it would certainly be useful for your users.

I guess, calculating approximate tx cost can perhaps it could be calculated on the fly and shown without a special request by clicking a button. sometimes the change is hard to see, so it forces me to make a few clicks/refresh.

next to the address field, I would add a clipboard (copy/paste) button. it would simplify the copy of the address and avoid possible incorrect selection of all characters. On touchscreen devices is far more complicated to go through the transaction.

Basically, Fryx Finance looks like a nice service, it can be useful, but certain visual improvements are needed.
legendary
Activity: 2856
Merit: 7410
Crypto Swap Exchange
Review of Fryx Finance (Done)

First Impression

I accessed the website use Tor Browser and it loaded quickly without any problem. The design of the website is very minimalistic. The homepage barely show any information about the website itself or how it works. At bare minimum, i believe the any exchange should mention feature of their website and current exchange rate on it's homepage.

After checking all pages, there are so many missing important pages/information. Where is your ToS page? Most user would know whether the exchange reject coin from certain source (such as casino or mixer) or not. Where is your Privacy Policy page? I would like to know what kind of data is stored along with store duration. I also couldn't find pages which list contact method or lower/upper limit of an order. My first impression isn't very good.

On this thread, you also mentioned Fryx Finance is open source. However, i couldn't find link to the source code either on this thread or your website.

Account

I couldn't find explanation benefit of having an account, so i decide to create an account with temporary email. After completing registration process, i briefly checked pages which only available after login. It looks like account is used to fulfill order created by anonymous user, but i'm not sure whether it's true or not. So additional explanation is in dire need. And personally, opening email for login attempt doesn't sound convenient to me.

Onion link

On this discussion thread, you mentioned existence of .onion link. But i couldn't find information about this on your website. Tor Browser also doesn't mention existence of .onion link. FYI, if you add HTTP header Onion-Location which contain your .onion link, Tor Browser will notify user existence of your website. For more advance usage, you can add alt-svc header so Tor Browser will make request through .onion link user visit clearnet link. And at time of writing this review, the .onion link is very slow where i had to refresh and change circuit few time before i see the homepage.

Buying Monero

I decide to buy Monero with $1 worth of Bitcoin. I use clearnet link since it's faster/more reliable on my Tor Browser. After entering XMR & BTC refund address, i clicked "Buy Monero". I greeted with page which show deposit Bitcoin Bech32/SegWit address. I send my Bitcoin and few seconds later the website show the amount of Bitcoin i sent along with total confirmation. Additionally the page also provide calculation how much BTC i should send in order to receive specific amount XMR. IMO this should be shown before user attempt to create an order.

Next day, i checked my Monero wallet and found out it has new incoming transaction. Using XMR-to-BTC converter tool, the amount is very close to Bitcoin i sent earlier. And checking date of the XMR transaction, it was confirmed about an hour after i sent the Bitcoin. I have no complaint about exchange rate or time to complete my order (after BTC transaction receive sufficient confirmation).

Conclusion

Overall i have mixed feeling about Fryx Finance. Although i do not experience any problem when buying Monero, many kinds of  information about the service are missing and the UI/UX could be improved. Aside from everything i've mentioned, i have following suggestion,
1. Reduce amount of BTC confirmation. 1-2 conf. for small order should be sufficient.
2. Letting user know whether they can or cannot send Bitcoin multiple times to Bitcoin deposit address.
legendary
Activity: 1582
Merit: 4327
Fryx Finance Review:

For my test of the Fryx Finance platform, I deliberately tested it as an unregistered user, because I rarely want to register for an instant exchange. If I do want to, I can just use a regular exchange like Binance or any other that offers XMR pairs.

First impression:



Short domain name ending with .finance, which is common for instant exchanges or other DeFi applications. Of course not yet as widely used as .com domains, but certainly fine here. Simple black website design, easy to understand (very cool logo! Looks nice! Thumbs up!). Even as a crypto beginner, you can see at first glance that this is a Monero/Bitcoin instant exchange. The instructions are understandably clear: you only need a Monero & Bitcoin address and you can start converting your coins right away.

I guess there is no KYC? If that's correct, let the user know that you won't KYC them.

Main menu and overview:

The main menu is clear, but provides very little information. Instructions on how to use the platform are completely missing. There is no FAQ page. There is also no reference to the support to which one could contact in case of problems. In addition, there are no pages like ToS, Disclaimer, About Us, Privacy Policy, etc.

While the latter can be tolerated, I consider the lack of a FAQ and the lack of support to be absolutely crucial for a working instant exchange. I mean: there are so many shady services out there and there is enormous competition in the market for instant exchanges. Very few users are likely to use a platform that does not provide basic information on how to use it or in case of problems. I mean would you deposit more than a few bucks to a website that's likely not going to offer any help, if something goes wrong with the transaction? I wouldn't tbh.

That's why it would be nice if at least a support email and a short FAQ about the process of a transaction on Fryx could be added here. In terms of the time required for these updates, this is certainly within manageable limits.

Transaction/Process:

After you have entered your BTC and XMR addresses, you will get to the following transaction screen. Here you get a deposit address and a loading screen.



The overall look is very simple and provides very little information here as well. In my opinion, the following points are missing or could be improved:

  • How many confirmations are needed? Let the the user know before depositing, in case they don't have unlimited time. There is a difference if its 1 or 6 confirmations.
  • What is the conversion rate? And how is it made up? Are you cheaper than other exchanges? If so, let the user know and provide a comparison to live prices on other exchanges, if applicable. Also it says "approximately", will the user get 2 XMR in the transaction or will he get less, if the rate changes? In other words, is the rate fixed for some minutes? Or can I get unlucky and get way less, if the price changes?
  • How high are the fees in general and how high are the fees deducted for this particular transaction?
  • What happens if the transaction fails or there is a bug with the website/plattform? No information, no hints that there is a support or what to do, if something goes wrong.
  • What happens if I accidentally close my browser as an unregistered user? Is my uncompleted transaction then lost forever? I guess you can open the browser link again, and it works, but you need to let users know about that! Give them more information!
  • What happens, if my transaction doesn't go through within a certain timeframe? What happens if its stuck in the mempool for weeks/months? Will there be a refund? Will the conversation rate change (I guess so)? Same here, more infos are needed.
  • Is there a maximum users can deposit/convert? I only see about minimums, no maximums.

Speed:

Most of the time, I use instant exchanges for small amounts, when I quickly need something. Waiting for 5 confirmations makes a competitor more attractive, even if their rates are slightly worse. I wasn't very lucky, when I checked after almost an hour, my Bitcoin deposit had only 3 confirmations.

I would like to agree with @LoyceV here. I am using other faster competitors frequently and even some regular exchanges that don't KYC take only 2 confirmations until my funds are deposited. I mean: If I use a simple instant-exchange, it needs to be fast.  

Conclusion

In summary: Good simple website with still a lot room to improve - especially when it comes to communication with the user.

Instant exchanges in particular are all about a clean overall picture, and this is achieved by giving the user enough information how the service works. It is not enough to write clean code and create a functioning exchange (btw you can buy the backend for a working instant exchange for a few hundred bucks on fiverr).

If you want a working product in the end that actually generates money through fees, you have to actively convince the user that your service is the best, safest and easiest to use. And here, hopefully, you are still working on it and improving your platform. Then I am sure that with a strong Bitcointalk community behind you, you can become a good place for BTC XMR trades. Good luck!
hero member
Activity: 1470
Merit: 706
Fryx
What does the name stand for?
Nothing, it's just a name.

Fry for Fry, X for Exchange. So it's going to be a platform to fry a transaction, isn't it? Roll Eyes

Oops, sorry, I forgot to add cancelation of orders. I've added that to the orders page now.


Image Source: Fryx Finance

Cool!, now we can cancel the order we made, there are no other problems, the cancellation went smoothly and my balance is back, and i hope you implement all the suggestions given by people in this topic, because the suggestions given are useful suggestions for the development of the Fryx Finance platform.
copper member
Activity: 42
Merit: 66
Design
Unlike most people, I don't mind the simple design of the site. But there should at least be some information on how to contact anyone if something goes wrong.

Thanks, I've added "contact" page to the feature request list, will have to think about the design where to put the link, maybe in a footer.

Fryx
What does the name stand for?

Nothing, it's just a name.

After placing an order, the balance in my account disappears, which means that the balance is already in the order. The question is, if my order isn't executed by someone, then it will be there forever @jackmurray? I want my 100 $BTC  Cheesy.

Oops, sorry, I forgot to add cancelation of orders. I've added that to the orders page now.

Due to the relatively long deposit time (especially $XMR), email notifications about successful deposits are likely to be very helpful for users who made deposits via $XMR.

Ah good idea! I've added email notifications for deposits to the feature request list.

Conclusion
There's no difficulty understanding all the processes that occur on this platform, but the problem is the lack of basic information such as "How many confirmations are needed for a deposit to come in", "Minimum withdrawals" and other basic information. Therefore, it would be better to add "About" or "FAQ" page to explain the small details on the platform.

Thanks, I've added "FAQ" page to the feature requests list.
hero member
Activity: 1050
Merit: 681
We are getting some solid reviews here guys. Keep them coming with all the bugs you encounter.
Meanwhile, I just wanted to tell if you want to access the site via tor, they  also got an .onion link below:
fryx6ycshmwxrfu65qbzdrp3ex44zq2hvroykc4quhwzzbu2bvum5uid.onion
hero member
Activity: 1470
Merit: 706
Fryx Finance Review By MAAManda

I just realized that the owner of this platform is @jackmurray (I hope this time it will be a project that actually goes well, mate). Ok, let's straight to the point. From the first time I saw the website, I didn't know what to do, there was no tutorial or at least a little explanation on "About", I think it would be better if we have "About" there and have some pretty detailed explanations (as I saw at Satoshi Auction).

Registration Process
There's nothing complicated there and I think users can understand it easily. It's as simple as "submit the email for registration", then "clicking the verification link in the email provided by Fryx" and "you are logged in now".

Deposit (as a registered user)


Image Source: Fryx Finance

Just like the registration process, making a deposit is fairly easy to understand, but, for real 25 confirmations? can't you make it a bit faster @jackmurray? 15 or 20 maybe Roll Eyes, because I see that full confirmation by default in blockchair platform is only 10 confirmations for Monero network. Look, it's been fully confirmed on Blockchair:


Image Source: Blockchair

After the confirmation was complete, I saw that my $XMR was available in the "Balance" menu, but when I checked my email, there was no notification at all from the platform regarding the deposit. Due to the relatively long deposit time (especially $XMR), email notifications about successful deposits are likely to be very helpful for users who made deposits via $XMR.

Withdraw (as a registered user)
After trying several times, I finally found out that the minimum withdrawal is 0.0002 for both (which means x2 the fee). It sounds ridiculous, but by providing as complete information as you can, it will make it easier for users to find out more about this platform. An example of the information I mean you can find in the image below:


Image Source: Fryx Finance

"Orders" Menu
In the "Orders" menu, we can't find important information, what's that? market price update for XMRBTC (IMO). Besides that, after I place an order, I also can't cancel it, for example in the image below:


Image Source: Fryx Finance

After placing an order, the balance in my account disappears, which means that the balance is already in the order. The question is, if my order isn't executed by someone, then it will be there forever @jackmurray? I want my 100 $BTC  Cheesy.

Conclusion
There's no difficulty understanding all the processes that occur on this platform, but the problem is the lack of basic information such as "How many confirmations are needed for a deposit to come in", "Minimum withdrawals" and other basic information. Therefore, it would be better to add "About" or "FAQ" page to explain the small details on the platform.

That's all I have, if I find anything else I should let you know, I'll update it on this topic, and thanks for giving me the chance to do a review.
legendary
Activity: 3290
Merit: 16489
Thick-Skinned Gang Leader and Golden Feather 2021
Review

The bug and error I encountered were quickly resolved.

No account needed
Whenever possible, I prefer to exchange without making an account, so I didn't Register. I like this, it's what makes instant exchanges stand out from the classic ones.

Test transaction
I used the onion site for my test. The exchange rate is about the same as for instance FixedFloat. I'm not sure if the withdrawal fee is already included in the estimate.
I think the "Calculate approximate cost" button should work in both directions. I can't get an exact amount, because the exchange rate changes all the time. I can choose how much I deposit, so it would make sense to base the estimate on that amount and tell me how much I would receive approximately.

I deposited 0.00025 BTC. It took some trial and error to find how much Monero (0.029173 XMR) I'll get for this:
Image loading...
After a while, I received 0.029058 XMR.

Slow
Most of the time, I use instant exchanges for small amounts, when I quickly need something. Waiting for 5 confirmations makes a competitor more attractive, even if their rates are slightly worse. I wasn't very lucky, when I checked after almost an hour, my Bitcoin deposit had only 3 confirmations.
Can you lower the number of confirmations for small transactions to 1 (and maybe require more above a certain value)? Even though many large exchanges (the ones where you need to create an account) also ask 4-6 confirmations, most instant exchanges send funds much faster. After all, it's in the name: instant exchange.

Making a typo
When I accidentally used a comma instead of dot in the estimation field, I got this:
Image loading...
Error handing should be improved (by notifying the user on the same page).

USP
I can imagine there's a demand for a Bitcoin <> Monero exchange without KYC on a .onion domain. If you don't ever ask for KYC, you should definitely advertise that on your site.

Design
Unlike most people, I don't mind the simple design of the site. But there should at least be some information on how to contact anyone if something goes wrong.

Fryx
What does the name stand for?



When using instant exchangers, I usually use BestChange to check a few of them for their rates. Because I don't trust many of them, I make only small transactions (and if needed, I do that more than once). I often choose one that isn't the cheapest, but gives me the best impression (mainly no KYC). So from my perspective, reliability is most important, small changes in rates come second.
copper member
Activity: 2758
Merit: 1163
Leading Crypto Sports Betting & Casino Platform
I will update this once I received my Monero to my Wallet. It's taking too much time is this normal?

Hmmm... the transaction was sent, and at the moment it has 40 confirmations. Is your wallet refreshing?

Confirming now that I received the $XMR a few minutes after I made my post above. Its estimated time of arrival was 30 minutes after the 5 confirmations of my deposit. I really suggest having a countdown timer or an update message on the transaction page when the Monero is already sent because the display didn't change even when I received already the Monero. It is still tagged as it will arrive soon.

I don't know what's the conversion rate per Monero by the time I purchased, I believe adding a summary after a successful transaction such as total Monero received & conversion rate at the time transaction made is really cool.

This service is almost as good as mixer since Monero is untraceable. Good job!
copper member
Activity: 42
Merit: 66
Please indicate minimum deposit amount and the fees on the exchange page so that user will be aware on this before they will send any amount on the deposit address.

Thanks, I've added minimum deposit and fee message on the exchange page.

I will update this once I received my Monero to my Wallet. It's taking too much time is this normal?

Hmmm... the transaction was sent, and at the moment it has 40 confirmations. Is your wallet refreshing?
copper member
Activity: 2758
Merit: 1163
Leading Crypto Sports Betting & Casino Platform


I try to buy Monero without any account as shown in the picture above. The website is very quick to display my pending Bitcoin payment right after I send the amount using my Electrum. The only problem was there was such reference ID or anything that will bookmark my pending transaction in case I close the Fryx Finance window since waiting for 5 confirmations is a bit long. Good thing I didn't use an incognito browser that time and browse on my history the Fryx finance transaction page. I hope that you have an option in your website that can track pending transaction using a reference ID.

Also since this is an exchange, I hope that there's a calculator cost for both Monero and Bitcoin. I do buy Monero using specific amount of Bitcoin but I don't know how much Monero I can get on my Bitcoin that I sent on the address since the calculator is only working for the Monero equivalent value in Bitcoin. I do a trial and error type on the value of monero calculator to come up on the Monero figure that equals to the Bitcoin that I sent.

Please indicate minimum deposit amount and the fees on the exchange page so that user will be aware on this before they will send any amount on the deposit address.



My payment is already confirmed as shown above but I still didn't received my Monero on my provided address. I'm already waiting more than 15 to 30mins until now for the Monero to arrive. I hope that you can include an estimated time of arrival for the coins since checking the wallet balance multiple times is so frustrating.

If possible, add a chat support or a link that will direct on this thread so that user that has concern to the service can communicate to you.

I will update this once I received my Monero to my Wallet. It's taking too much time is this normal?
copper member
Activity: 42
Merit: 66
This doesn't work: it shows nothing now when I click "Calculate approximate value" on 0.01 Monero. For 0.1 Monero, it works.

Thanks. Fixed the bug, it should display 0 now.
legendary
Activity: 3290
Merit: 16489
Thick-Skinned Gang Leader and Golden Feather 2021
- I've updated the value estimator to show 0 when there is negative value due to the withdrawal fee.
This doesn't work: it shows nothing now when I click "Calculate approximate value" on 0.01 Monero. For 0.1 Monero, it works.
Update: it's fixed Smiley

Quote
- I've fixed the bug causing Internal Server Error (it was due to a duplicate address and not handling the error correctly).

Can you please try again?
No more Internal Server Error Smiley

Quote
edit: I've removed the need for withdrawal address to be unique entirely.
That makes sense.
copper member
Activity: 42
Merit: 66
Thanks, I've added support for rendering negative numbers.
I would expect the estimate to show up as "0" in this case.

Quote
4. n4r52rar5ij6ot3u4pjmj5smp2vtdqk235gij55z2qgicuyo4q3llcyd.onion
Are you aware of vanity address generators? I'm not vouching for this software, so DYOR, but it looks much better if your onion address starts with Fryx (or longer).



At first, the site worked yesterday, but just when I decided to buy some Monero without reading anything else, I got this after clicking "Buy Monero":
Quote
Internal Server Error

The server encountered an internal error and was unable to complete your request. Either the server is overloaded or there is an error in the application.
I still get the same error.

- I've updated the value estimator to show 0 when there is negative value due to the withdrawal fee.
- I've updated the .onion address to be fryx6ycshmwxrfu65qbzdrp3ex44zq2hvroykc4quhwzzbu2bvum5uid.onion
- I've fixed the bug causing Internal Server Error (it was due to a duplicate address and not handling the error correctly).

Can you please try again?

edit: I've removed the need for withdrawal address to be unique entirely.
legendary
Activity: 3290
Merit: 16489
Thick-Skinned Gang Leader and Golden Feather 2021
Thanks, I've added support for rendering negative numbers.
I would expect the estimate to show up as "0" in this case.

Quote
4. n4r52rar5ij6ot3u4pjmj5smp2vtdqk235gij55z2qgicuyo4q3llcyd.onion
Are you aware of vanity address generators? I'm not vouching for this software, so DYOR, but it looks much better if your onion address starts with Fryx (or longer).



At first, the site worked yesterday, but just when I decided to buy some Monero without reading anything else, I got this after clicking "Buy Monero":
Quote
Internal Server Error

The server encountered an internal error and was unable to complete your request. Either the server is overloaded or there is an error in the application.
I still get the same error.
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