I have never seen this in crypto space before

hari9981

full member

Activity: 546

Merit: 105

Quote from: republicrypto on January 18, 2021, 03:54:58 PM

Quote from: ?? on ??

If an exchange has high withdrawal fees, can we conclude it as a scam exchange? In my opinion, it is too early to judge Emirex as a scam exchange. We only can state Emirex as a scam exchange if they are disappeared suddenly or the people's coins are gone in Emirex wallets. While the team doesn't want to make responsibility.

indeed but high fees on emirex exchange is the cause people call this exchange is not a good exchange, maybe thats a better words rateher than scam right ? this exchange want to get a huge money from transactions fees
regards

If its not scam, you can call it robbery.
Im pretty sure its robbery if they have high fees for the withdrawal like that without any pros value behind it.

Manish2809

jr. member

Activity: 361

Merit: 4

It's like that they rob by telling, showing the whitepaper. They are offering a different kind of experience that no one can withdraw their funds from exchange. And it's not looking for a long-lasting exchange. At the same time It all seems to be in a all at once way of plundering.

firmino10

member

Activity: 372

Merit: 11

elysian.finance

This is actually a ridiculous one. That is the reason I don't confide in exchanges that aren't exactly reputable on the grounds that most likely arbitrary withdrawal fees will be required once I get the hang of the entire exchange. Emirex isn't reliable in satisfying its commitments. There are a great deal of negative review and protests about their work on the Internet.

NextDoor125

member

Activity: 153

Merit: 10

Yes, I have been informed that. I was falling down in this scamming and some of my money has been scammed, I can not get a minimum withdraw from EMRX exchanger. They were a huge audience for participating in their campaign for getting their announced rewards token a one year back. But finally they did not pay any rewards among the bounty participants! Because they were intentionally scammed. It very undignified task. Anyway, we should have to aware about exchanger choosing.

republicrypto

sr. member

Activity: 1414

Merit: 252

Keep it Simple guys :)

Quote from: ?? on ??

If an exchange has high withdrawal fees, can we conclude it as a scam exchange? In my opinion, it is too early to judge Emirex as a scam exchange. We only can state Emirex as a scam exchange if they are disappeared suddenly or the people's coins are gone in Emirex wallets. While the team doesn't want to make responsibility.

indeed but high fees on emirex exchange is the cause people call this exchange is not a good exchange, maybe thats a better words rateher than scam right ? this exchange want to get a huge money from transactions fees
regards

isaac_clarke22

sr. member

Activity: 1610

Merit: 264

This is really a ridiculous one. That's why I don't trust exchanges that aren't quite reputated because surely random deposit digits will be required once I get the hang of the whole exchange.
Did this exchange got a scam accusation here lately?

reza7777

sr. member

Activity: 1414

Merit: 255

Quote from: ?? on ??

If an exchange has high withdrawal fees, can we conclude it as a scam exchange? In my opinion, it is too early to judge Emirex as a scam exchange. We only can state Emirex as a scam exchange if they are disappeared suddenly or the people's coins are gone in Emirex wallets. While the team doesn't want to make responsibility.

For hunter tokens that are there now is gone, maybe they took hunter tokens that couldn't be WD because it was a very expensive fee so in my opinion it was appropriate if this project was said to be a scam

passwordnow

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Activity: 3108

Merit: 577

Leading Crypto Sports Betting & Casino Platform

0.002 BTC for the withdrawal fee? that's a lot. They are taking advantage of the market and a normal trader wouldn't choose that option if it's for the withdrawal. They're also taking a trading fees and then the withdrawal fee is also a different source for them.
It is not going to be a surprise if a few months from now if they won't change their fee matrix for the withdrawals, they'll be getting a huge reduction of traders.

jrrsparkles

sr. member

Activity: 2520

Merit: 280

Hire Bitcointalk Camp. Manager @ r7promotions.com

Do you know the withdrawal fee of yobit? Its 120K sats which is extremely high fees as well so this is not new and these kind of exchanges should not be trusted. Its already explained that they are not having 50/50 split, they just have huge fee as withdrawal fee so this is not exactly a scam but one of the shit exchange.

Fatunad

sr. member

Activity: 2226

Merit: 347

Quote from: Stanlo on January 13, 2021, 02:58:09 AM

Since the day ive been into crypto I haven't seen such before

He who have ears let him hear

Emirex exchange is a scam and cheat exchange, do not make any deposit on the exchange, if you do be ready to share your asset 50/50 with the exchange to withdraw, yes you heard me right, I had 20$ worth of LTC and I have to use 10$ for withdrawal, you can't adjust withdrawal fee it's fixed, after checking all listed assets eg, USDT, BTC and others I noticed they are all the same, if you deposit 100$ be ready to split it with Emirex team, check out the screenshots below
These people are ripping people off, the moment I made mention of this on their telegram group they deleted the post, it's like auto delete with bots, you've been warned

Why do end up on using up this exchange in the first place if you do justt plan to deal with LTC? Try to check and look on how many exchangers that are on top tiers or reputable are having ltc.?

People cant really just do make up some search first before making any deposits and they do rather learn up when they had already experienced some problems.

This isnt something rare because this had been a common thing when it comes to shady exchange.

Ucy

sr. member

Activity: 2674

Merit: 403

Compare rates on different exchanges & swap.

Quote from: ryzaadit on January 13, 2021, 08:11:35 AM

I'm not defending EMIREX EXCHANGE.

But, before you used the exchange you should know the policy and other things about the exchange. Their fee is not 50/50, you typed the minimum thats why you only receive half.

They already have the fixed fee, go to check: https://kb.emirex.com/fees-structure for more information about the fee. One of the example, BTC fee is 0.001 and LTC 0.15 LTC so when you withdraw 0.002, of course, you only receive 50:50 because you are withdrawl with the minimum withdrawl other exchange could be same like this when they have the same fee and minimum withdrawl as EMIREX EXCHANGE.

But, when you withdraw maybe 0.01 BTC you will be receive 0.009 BTC and 1 LTC will be receive 0.85 LTC.

See? I tested type 0.01 and you will receive 0.009 BTC so you are miss understanding about 50/50 fee.

Adjustable fee or not, all depends on the exchange policy some exchange can be adjustable for the fee but some exchange was also have the fixed fee.

Interesting. So the problem is that they have large fixed fee for any amount of withdrawal. If for example they charge $10 per withdrawal, you will be able to withdraw only $1 if you have $11 in your balance to withdraw. Exchange like not advisable for low budget users. They probably should check if it's possible to convert to another coin with low fee before withdrawing.

serjent05

legendary

Activity: 3010

Merit: 1280

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Quote from: meanwords on January 13, 2021, 08:45:20 AM

Quote from: ryzaadit on January 13, 2021, 08:11:35 AM

-snip

This is actually the context that was missing and I've been looking for. Maybe OP just misunderstood and thought it's 50% of the total asset since looking at the fees from their website, it's looking like it's 50% of the minimum withdrawal amount.

Though this fees are still too high in my opinion which many would avoid.

Possibly OP hates the exchange so much that he made a presentation where the Exchange looks awful, making people think that the exchange is charging 50% of their withdrawal which in fact is misleading and has a negative impact on the exchange.

It was a fixed fee, so it is obvious that whenever someone makes a withdrawal of 2x the fee will get 50% of that said withdrawal. It is good that there are people who don't jump to conclusions as soon as they see an accusation and check it themselves. I agree the fee is high but it is not 50% of what the OP wanted to make us think in his presentation.

ryzaadit

legendary

Activity: 2660

Merit: 1261

Quote from: JeotQ on January 13, 2021, 08:46:12 AM

I did my one findings too and I see that the withdrawal fee on emirex is way too high, 0.15 LTC is 20$ and that's their minimum withdrawal for LTC, we all know that making transactions with LTC, XRP, DOGE are the cheapest right now, they are indeed ripping people off

Cheap or high, all depends on the exchange.

If you don't like the fee or other thing then don't use the exchange and just use other exchanges remember when you register on their website you agree with the Term & Conditions of their exchange policy.

Just make it simple okay

Fesatmas

sr. member

Activity: 2268

Merit: 275

In fact, until now there are still many people who are interested in exchanges on EMIREX, of course if this includes fraud, then the most effective method is to report their actions. so that this can minimize the occurrence of many victims. try to report it to a scam forum.

JeotQ

member

Activity: 406

Merit: 14

Quote from: ryzaadit on January 13, 2021, 08:11:35 AM

I'm not defending EMIREX EXCHANGE.

But, before you used the exchange you should know the policy and other things about the exchange. Their fee is not 50/50, you typed the minimum thats why you only receive half.

They already have the fixed fee, go to check: https://kb.emirex.com/fees-structure for more information about the fee. One of the example, BTC fee is 0.001 and LTC 0.15 LTC so when you withdraw 0.002, of course, you only receive 50:50 because you are withdrawl with the minimum withdrawl other exchange could be same like this when they have the same fee and minimum withdrawl as EMIREX EXCHANGE.

But, when you withdraw maybe 0.01 BTC you will be receive 0.009 BTC and 1 LTC will be receive 0.85 LTC.

See? I tested type 0.01 and you will receive 0.009 BTC so you are miss understanding about 50/50 fee.

Adjustable fee or not, all depends on the exchange policy some exchange can be adjustable for the fee but some exchange was also have the fixed fee.

I did my one findings too and I see that the withdrawal fee on emirex is way too high, 0.15 LTC is 20$ and that's their minimum withdrawal for LTC, we all know that making transactions with LTC, XRP, DOGE are the cheapest right now, they are indeed ripping people off

meanwords

full member

Activity: 1624

Merit: 163

Quote from: ryzaadit on January 13, 2021, 08:11:35 AM

-snip

This is actually the context that was missing and I've been looking for. Maybe OP just misunderstood and thought it's 50% of the total asset since looking at the fees from their website, it's looking like it's 50% of the minimum withdrawal amount.

Though this fees are still too high in my opinion which many would avoid.

ryzaadit

legendary

Activity: 2660

Merit: 1261

I'm not defending EMIREX EXCHANGE.

But, before you used the exchange you should know the policy and other things about the exchange. Their fee is not 50/50, you typed the minimum thats why you only receive half.

They already have the fixed fee, go to check: https://kb.emirex.com/fees-structure for more information about the fee. One of the example, BTC fee is 0.001 and LTC 0.15 LTC so when you withdraw 0.002, of course, you only receive 50:50 because you are withdrawl with the minimum withdrawl other exchange could be same like this when they have the same fee and minimum withdrawl as EMIREX EXCHANGE.

But, when you withdraw maybe 0.01 BTC you will be receive 0.009 BTC and 1 LTC will be receive 0.85 LTC.

See? I tested type 0.01 and you will receive 0.009 BTC so you are miss understanding about 50/50 fee.

Adjustable fee or not, all depends on the exchange policy some exchange can be adjustable for the fee but some exchange was also have the fixed fee.

meanwords

full member

Activity: 1624

Merit: 163

Is this actually 50% of the total coin? or 50% of the minimum withdrawal amount? though the context is lacking, I agree that it's pretty absurd for a fee. Even the most reputable exchange that service the fastest transaction speed wouldn't do this.

cilgindansci

member

Activity: 504

Merit: 10

umachit.fund

Something like this I've never seen before. You are quite right. This is a complete fraud and it is very correct to expose it. I hope that nobody will use this exchange from now on and won't be a victim. Before trading on an exchange, we should read the explanations very well Undecided

Jawhead999

legendary

Activity: 1820

Merit: 1207

It's very crazy fees, how come they charge fees are 50/50 based on our asset? This is cheating IMO

Just checked they have ANN thread created by BTCwriter

And this is the account of Emirex team/developer in this forum Emirex_Support

You can tagged the account and create flag type 1 on Emirex account.

This thread should be move to scam accusations section.

jaocoincrypto18

full member

Activity: 630

Merit: 103

Quote from: bitkanu on January 13, 2021, 03:47:01 AM

that's why all of emirex bounty participants never able to withdraw their money. The team was putting non-sense fees and this has been discussed in the emirex announcement thread and you should come there and you will be seeing a bunch of complaints from the hunters. This exchange site was a scam exchange site.

This exchange issue is the same with Midex exchange who later gone and disappear with our deposited cryptos including our Midex token. I lost some coins to it and never get them back so hopefully this is not a scam exchange but I think it will lost credibility after this OP and every one will choose to withdraw even it will cost them 50/50.

Bitbtc8

full member

Activity: 1148

Merit: 116

You've seen it now Grin

, there is always a first time for everything indeed, I stopped trusting emirex exchange when they introduced airdrop and bounty campaign in 2019, they put the tokens on locked since then, I knew they have no good intent in mind for their promoters, I have no reason to use such exchange for trading when we have enough high reputable crypto exchanges

Ucy

sr. member

Activity: 2674

Merit: 403

Compare rates on different exchanges & swap.

Quote from: Stanlo on January 13, 2021, 02:58:09 AM

Since the day ive been into crypto I haven't seen such before

He who have ears let him hear

Emirex exchange is a scam and cheat exchange, do not make any deposit on the exchange, if you do be ready to share your asset 50/50 with the exchange to withdraw, yes you heard me right, I had 20$ worth of LTC and I have to use 10$ for withdrawal, you can't adjust withdrawal fee it's fixed,....

Is it really 50/50? So, If you deposit about $10,000 on the exchange, they take $5,000 as fee when you want to withdraw the $10,000? If that is the case then it's either their fee calculation method is unintentionally flawed, They agreed with users to deduct that much or They are intentionally scamming users and taking half of their funds without their permission.

bitkanu

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Activity: 2184

Merit: 513

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that's why all of emirex bounty participants never able to withdraw their money. The team was putting non-sense fees and this has been discussed in the emirex announcement thread and you should come there and you will be seeing a bunch of complaints from the hunters. This exchange site was a scam exchange site.

Stanlo

full member

Activity: 952

Merit: 110

Since the day ive been into crypto I haven't seen such before

He who have ears let him hear

Emirex exchange is a scam and cheat exchange, do not make any deposit on the exchange, if you do be ready to share your asset 50/50 with the exchange to withdraw, yes you heard me right, I had 20$ worth of LTC and I have to use 10$ for withdrawal, you can't adjust withdrawal fee it's fixed, after checking all listed assets eg, USDT, BTC and others I noticed they are all the same, if you deposit 100$ be ready to split it with Emirex team, check out the screenshots below

These people are ripping people off, the moment I made mention of this on their telegram group they deleted the post, it's like auto delete with bots, you've been warned

Topic: I have never seen this in crypto space before (Read 353 times)