Instant exchange services are very inconvenient now - page 2.

ABCbits

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Quote from: alani123 on January 10, 2025, 10:23:53 AM

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!

bestchange.com is fairly good website, but you may also want to consider orangefren.com. It supposed only to show exchange which support amount you enter. For example,
1. If i enter i want to convert 0.0001 BTC (about $9.53) to LTC, it only shows 6 exchange.
2. If i enter i want to convert 0.1 BTC to LTC, it shows 19 exchange.

But make sure orangefren data is accurate (both exchange rate and minimum exchange/deposit amount).

alani123

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Quote from: Potato Chips on January 10, 2025, 04:09:42 PM

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.

Exch.cx has somewhat reasonable fees but their selection on what you can trade is very limited and therefore the whole site isn't very useful for actual trading. I guess since it's a site focusing on privacy maybe it would have some utility for mixing but what more than that would you use it for with such limited options?

The other exchanger you mention, simpleswap, has better rates and a much wider selection. I guess it's one of the more reasonable options.

If anyone has more like this one to mention I'd be all ears. Many of the other services advertised here fall in the mishaps I mention in the OP so it's hard to find good ones.

joniboini

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Quote from: alani123 on January 10, 2025, 10:23:53 AM

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 decided to do the same and was surprised to see that the first 10 exchanges were expensive to use. I saw one exchange requires 10k USD as a minimum, I thought it was a typo but then the amount of minimum BTC is also ridiculously high. The average seems to be around $200 on that list. I don't know the exact cause, maybe their target demographic/where they're located plays a part here?

I think it will be great if Bestchange adds a new filter if finding which one has a low requirement is a hassle since some exchanges do offer low requirements as mentioned above.

terrific

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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.

dkbit98

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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.

Potato Chips

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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.

PX-Z

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Quote from: alani123 on January 10, 2025, 10:23:53 AM

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.

alani123

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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?

Topic: Instant exchange services are very inconvenient now - page 2. (Read 360 times)