Well, after many years in the Bitcoin world, I made my first mistake in an exchange some days ago. In Shapeshift.io exactly.
Things went more or less in this way:
After 6 large nubits dumps there, seems I depleted all their market depth available so, in the seventh and last, I dumped 843 nubits and, naively, didn't cheked the exchange rate. I ended up paying 843 nubits (1 nubit = 1$) for barely 1 BTC. The emails I interchanged with Shapeshift went as follows:
Me:
Dear Sir/Madam:
Just some minutes ago I used your shapeshift.io service (as I have used many times recently) in order to buy some BTC with nubits. Today I made 7 transactions of that kind in your service.
But I think I had a problem with the last one. I'm talking about the 843 nubits transaction that landed in your Bxxxxxxxxxxxxxxxxxx nubit direction. After 6 perfectly smooth transactions, this one ended up with a really huge slippage that I didn't realize and I naively continued with the transaction.
For the 843 nubits I sent you, you sent me barely 1 BTC to my bitcoin address. Is it correct? Did you make a mistake with the huge slippage or do I have to accept the deal your platform offered me?
I'm sorry for my bad english, but It's not my main language.
Shapeshift response (in less than 24 hours):
Thanks for contacting us. We're looking into this when our developer is
available and I'll send you an update then.
Please always make sure to check the exchange rate before you send the
coins, because the exchange rate can move. If you were doing lots of big
transactions, it's possible that you cleared out the market depth that
was available.
Will get back to you soon, thanks.
Another Shapeshift response (again, less than 24 hours from my last email):
I checked this out, we will send you some more BTC to cover the difference.
Can you send me your BTC address?
Kind regards,
Beorn
My response:
Of course. Please, send the bitcoins to the following address:
1xxxxxxxxxxxxxxxxxx
Thank you
Shapeshit response (less than 24 hour after my last email):
2.63 BTC has now been sent to you to cover the difference.
It appears there are some liquidity bots that the Nubits team uses to
maintain the price on exchanges. These bots do weird things
occasionally, and I think your order went through when the bots had
failed to set the price correctly.
So, in the future, please double check the exchange rate each time you
send an order through and we should be able to avoid this issue.
Thanks for being a customer and please let us know if there is anything
else we can help you with.
Kind regards,
Beorn
My last email to them:
Ok, thank you very much. Next time I will check the price.
Now, I inform you that it's my intention to post in bitcointalk about the mistake I made not checking the rate in your service, the flawlessly and fast response you gave me and the trust you very well deserve. I'm really proud to be your customer.
Well, draw your own conclussions, but I wanted to write my experience here because I'm tired to read only bad experiences with exchangers.
My conclussions:
- Always check the exchange rate. ALWAYS.
- They deserve my trust.
- Their customer support is really good.
