If other exchanges want to offer best pairs they've got to keep tabs on competitions because rates change. It isn't easy to log other exchanges rates to give best ratios because there's too many exchanges to track.
If they want to do that, they can easily limit the number of exchanges to track. For example, they limit it to the top 20 exchanges or something similar. That being said, using an index is probably what most of them do (unless they're dealing with market makers directly). I'm not privy to how instant exchange operates but I don't think they have to track every single exchange to offer competitive rates. CMIIW. 
Topic: Instant exchange services are very inconvenient now (Read 360 times)
I don't know if exchanges always give top rates on a certain pair because rates change. If other exchanges want to offer best pairs they've got to keep tabs on competitions because rates change. It isn't easy to log other exchanges rates to give best ratios because there's too many exchanges to track.
I wonder if anyone has done a best rate analysis, does an exchange always have the best rate for a certain pair? It would be logical if that were the case.
So for example, if USDT/XMR has the best ratio on eXch today, what needs to change so that it doesn't remain that way tomorrow?
So for example, if USDT/XMR has the best ratio on eXch today, what needs to change so that it doesn't remain that way tomorrow?
I'd assume the supply and demand will affect the rate, so it depends on how each exchange operates. If they take the average market price from exchanges, I'd assume their rate will change quickly compared to if they let the users decide that. From a quick research, some instant exchanges used Bisq Price Indices to determine the rates for example. Others claim they used their indices, which are hard for users to verify. CMIIW.
It makes sense for ppl to use orangefren if they don't want to check instant exchange services for best prices. It's a high premium but there's a market so ppl pay. Min amounts are increasing for small trades but ppl don't care because it's no kyc.
I wonder if anyone has done a best rate analysis, does an exchange always have the best rate for a certain pair? It would be logical if that were the case.So for example, if USDT/XMR has the best ratio on eXch today, what needs to change so that it doesn't remain that way tomorrow?
It makes sense for ppl to use orangefren if they don't want to check instant exchange services for best prices. It's a high premium but there's a market so ppl pay. Min amounts are increasing for small trades but ppl don't care because it's no kyc.
Yeah, that's one of the reasons why they're also desirable because having no kyc. But if someone isn't checking that much before proceeding, they'll end up paying the premium in fees. I've experienced that before and also, they cannot proceed as well if they won't meet the minimum required amount and for some reasons, it's quite high already for some coins to trade.
Another option is fixedfloat.
I would NEVER use of recommend fixedfloat exchange to anyone!They got hacked several times for serious amount of money, and if I remember correctly they can also freeze user coins and ask them to perform kyc verification...that is a big red flag for me.
Better read the terms for any exchange you use, most of them are not respecting users privacy at all, they record everything, and they cooperate with officials.
I think maybe that is because of the effect of Bitcoin price and the fees also increase. It is normal if they increase the minimum but if the increasing is too high, you don't have to use their services but search for the other services.
The last time I used Exch.cx exchange don't have a too high limitations. I also check the situation now by visiting Exch.cx and only use 0.0002 BTC to buy LTC and I don't gets any problem.
The last time I used Exch.cx exchange don't have a too high limitations. I also check the situation now by visiting Exch.cx and only use 0.0002 BTC to buy LTC and I don't gets any problem.
At low amounts, the double TX fee significantly affects the total relationship obtained in the exchange, so it is logical to increase the amount so that the TX fee becomes more negligible.
This could easily be solved by creating a reserve for transactions below $100 and then the service would be available for all amounts and at low fees but these services are becoming more lazier/API-dependent as they involve almost zero risk/loss/cost (other than hosting and promotion costs.) The reason is mostly that these Instant Exchange services are APIs for popular crypto platforms and do not have any external funds for them and therefore many APIs have withdrawal limits of around $50 (check withdrawal limits for popular platforms and you will find that they are close to the minimum required by these services). Exch is an exception because they have their own reserve but godex(no KYC/refund) required $160 as a minimum.
This is the closest to explaining the OP's question. Most instant exchangers are only resellers, where the user has to pay twice the TX fee (user>exchanger>liquidity provider) + service fee. At low amounts, the double TX fee significantly affects the total relationship obtained in the exchange, so it is logical to increase the amount so that the TX fee becomes more negligible. 
Decentralised exchanges don't always have higher tx fees so you'll have to check before sending coins. Some ppl don't want to use centralised exchanges because they'll have to register. If they're willing to pay premiums to instant exchange services it's their decision but it might be cheaper & convenient.
I believe that instant exchanges are made for quick and small transactions, i.e. they should be ready to accept deposits of the smallest possible value. Over time and as crypto prices change, these small exchanges may no longer be sufficient to cover the cost of the service and these platforms need to boost their revenues. Since they cannot service large amounts of money since this would force the authorities to implement KYC procedures, they often increase the minimum deposit to ensure a larger profit margin on the transaction. In terms of investment profit, this is completely fair and acceptable.
The reason is mostly that these Instant Exchange services are APIs for popular crypto platforms and do not have any external funds for them and therefore many APIs have withdrawal limits of around $50 (check withdrawal limits for popular platforms and you will find that they are close to the minimum required by these services). Exch is an exception because they have their own reserve but godex(no KYC/refund) required $160 as a minimum.
Bitcoin an $1000 minimum $10 means 0.01 BTC. Bitcoin at $100k 0.01 BTC is $1000. Obviously crypto holders are rich and crypt is for the rich only. Welcome to the elite club.
It's better to check prices & tx fees before exchanges. You'll probably pay a premium for most trades in instant exchange services so it's no kyc trading for extra fees.
Yeah, that's one of the reasons why they're also desirable because having no kyc. But if someone isn't checking that much before proceeding, they'll end up paying the premium in fees. I've experienced that before and also, they cannot proceed as well if they won't meet the minimum required amount and for some reasons, it's quite high already for some coins to trade. That makes sense and there is nothing we can do if they're starting to raise the minimum. I hate that but we have to accept and bear with the pros and cons of these three, dexes, cexes and instaswaps.
It's better to check prices & tx fees before exchanges. You'll probably pay a premium for most trades in instant exchange services so it's no kyc trading for extra fees.
That makes sense and there is nothing we can do if they're starting to raise the minimum. I hate that but we have to accept and bear with the pros and cons of these three, dexes, cexes and instaswaps.
Decentralised exchanges don't always have higher tx fees so you'll have to check before sending coins.
I remember it when they're crazily high so right, before doing a transaction there is a need to check if the network is clogged or not.Some ppl don't want to use centralised exchanges because they'll have to register. If they're willing to pay premiums to instant exchange services it's their decision but it might be cheaper & convenient.
That makes sense and there is nothing we can do if they're starting to raise the minimum. I hate that but we have to accept and bear with the pros and cons of these three, dexes, cexes and instaswaps. 
Is it just profiteering? And even if that's true, why not charge a minimum fee and also allow smaller amounts through?
Maybe yess since an instant exchange service is charge low profit and they want a instant profit too that is why they might increase the minimum top up from 10 USD to higher USD.
To be honest I never bought bitcoin 10 USD or instant using third party eCommerce software that usually in payment app, Im only using p2p local service and they even offered min 5 USD but ofcourse with high spread
Not all exchanges have a purpose to earn via exchange fees, some might perform exit scam after they receive a lot of money.
So far so good, I either use fixedfloat or simpleswap, I have no issue at all.
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.
Not to mention how high the fees they charge, I've seen exchange that ask like $20 minimum deposit and the minimum withdrawal is $10, but the withdrawal fees is $15, so if we exchange in CEX, we only get less than $5.The other exchanger you mention, simpleswap, has better rates and a much wider selection. I guess it's one of the more reasonable options.
Another option is fixedfloat.So far so good, I either use fixedfloat or simpleswap, I have no issue at all.
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.
Exch is good, but I haven't had issues with SealthEx either.
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?
Admittedly, I use it to improve my privacy on a surface level. The are also plenty of cases when I needed a certain major ALT thus I turn to exch. Another thing i love about exch is it lets me choose fee for alts like ETH. They support BTC LN as well if someone wants to use LN only services. For serious trading, TBH, I would just use a full fledged exchange. Instant exchanges are for some quick swaps/conversions for me.
I would very much love it if exch added more cryptos, though, as I want that peace of mind that I wont get hassled over KYC lol.
The other exchanger you mention, simpleswap, has better rates and a much wider selection. I guess it's one of the more reasonable options.
Glad you find it useful.
Decentralised exchanges don't always have higher tx fees so you'll have to check before sending coins. Some ppl don't want to use centralised exchanges because they'll have to register. If they're willing to pay premiums to instant exchange services it's their decision but it might be cheaper & convenient.
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).
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.
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.
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.
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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