Topic: Instant exchange services are very inconvenient now (Read 45 times)
I still go to instant exchanges because of hassle free and I understand that the fluctuation makes them calculate the lesser amount of crypto that we should receive. They're a business and they have to earn from each trade that we make there. But what I find it inconvenient is about the minimum amount of crypto that we can trade in there and mostly in USDT, they're requiring above $10+ which I find it unlikeable. Because instead of them adjusting with the smallest amounts compared to the centralized exchanges, they're not that convenient with feat.
Centralized exchanges are much more inconvenient, you have to register, send them a bunch of personal information, and most of them increased their minimum deposits.
I never had any issues using Exch.cx exchange, it's super easy to use, and last time I checked minimum for was around 0.010460 for USDT, and 0.00000011 for Bitcoin.
You can't get any better than that on any other exchange.
I never had any issues using Exch.cx exchange, it's super easy to use, and last time I checked minimum for was around 0.010460 for USDT, and 0.00000011 for Bitcoin.
You can't get any better than that on any other exchange.
I'm not sure about other instant exchanges but with exch.cx and simepleswap from my experience have a pretty low minimum entry. If you haven't yet, try it @OP—exch is always my first choice because it's privacy oriented but they have a limited supported coins hence I use simpleswap in such cases.
Though, keep in mind of altcoins with relatively high network fees as small amounts could be eaten by the exchange fees. If I can help it, I prefer exchanging my BTCs with cheap network fee alts TBH.
Though, keep in mind of altcoins with relatively high network fees as small amounts could be eaten by the exchange fees. If I can help it, I prefer exchanging my BTCs with cheap network fee alts TBH.
I don't understand this. Why would it be so prohibitive for at least some exchangers to offer lower minimums? It could be done at the expense of paying a minimum exchange fee, but for some reason this isn't even an option.
If i remember correctly while using 1 or 2 instant exchanges in the past, their requirements are based in BTC value (e.g. 0.0008 - 0.001 BTC) not in USD as the tx fees varies in BTC (crypto) too. Now that they've increase their minimum deposit in USD based on what you said, i could only think that its because of the BTC value knowing that $100 is something around 0.001 BTC now. This is just an observation, i could be wrong though. 
Instant exchange services used to have a low entry barrier. You could deposit 10$ in BTC and in just a few minutes get 9.5$ of X crypto.
Now these services have started raising their minimums to very unreasonable levels. I went over to The Change Ltd's website and for any combination I could enter their minimum was 40$... Going over to other services advertised here there was even less variety of available options and the minimums were even bigger. 100$ or 150$...
Going over to bestchange.com to see if any of the exchangers they list would have a lower minimum, I was surprised to find out that some exchangers had even raised their minimums up to the thousands!
I don't understand this. Why would it be so prohibitive for at least some exchangers to offer lower minimums? It could be done at the expense of paying a minimum exchange fee, but for some reason this isn't even an option.
I know that for various reasons many exchangers are no longer functioning without KYC. But I can't understand what changed in the landscape that much to have every provider of such services raise their minimum substantially. Is it just profiteering? And even if that's true, why not charge a minimum fee and also allow smaller amounts through?
Now these services have started raising their minimums to very unreasonable levels. I went over to The Change Ltd's website and for any combination I could enter their minimum was 40$... Going over to other services advertised here there was even less variety of available options and the minimums were even bigger. 100$ or 150$...
Going over to bestchange.com to see if any of the exchangers they list would have a lower minimum, I was surprised to find out that some exchangers had even raised their minimums up to the thousands!
I don't understand this. Why would it be so prohibitive for at least some exchangers to offer lower minimums? It could be done at the expense of paying a minimum exchange fee, but for some reason this isn't even an option.
I know that for various reasons many exchangers are no longer functioning without KYC. But I can't understand what changed in the landscape that much to have every provider of such services raise their minimum substantially. Is it just profiteering? And even if that's true, why not charge a minimum fee and also allow smaller amounts through?
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