Changes for exchanges

[neich]

 

I am really a fan of the exchange function of stake.

The only thing that bothers me and I think there are many so Is the minimum amount.

Is there a specific reason that ETH has at least 0.1?

And would not it be possible to reduce it all?

 

 

[neich]

ok to be honest i did not know that. but yea so it makes sense why these min amounts are that high.

i know the fees of coinbase with his intern exchanges so i'm not surprised.

ty db ^^ 

[rajamishra]

hello friend when we use other than stake its little bit longer.also its not control by stake just provision the link for our convenient.yeh in coinswitch minimum exchange amount little bit  higher.still not bad its provide a platform us to play in any coins available with us.

[Enzo]

It's not surprising that its due to coinswitch, maybe look into a different exchange to use?

[davinmark]

yeah i agreed, actually its already good that we can exchanges with any coins and choose the coin that we want received. i am hoping that there is no minimum amount for doing that. but it makes me hard to do some exchanges when i have a lower balance.

that is why i always use dinabot (3rd party exchanger) because there is no minimum amount and easy to understand.

[Kate]

Nope it cannot be reduced because stake doesnt own the exchange but coinswitch does soo you know they cant ask them to reduce it since it is another party.

[cointikka]

It is controlled by a third party, stake cannot do anything in this present scenario. Surely they can contact service providers like changely or changeNOW. But, most of them follow the same minimum exchange criteria.

I do not think it will be any different. It is still another feature that they can add.

[viktorbitoin]

 I have never used this exchanger, I think it is worth trying, as in other casinos, I have altcoins on the account

[bmg]

I have not yet used this feature on Stake in fact I forgot about it until now.  Thanks for reminding me it's here.

[barbaris]

I wanted to change xlm to btc, but the miner commission was 150000 sat. It seems to me very much. Here's what it looks like. Why such a huge miner fee.

[ceastem]

21 minutes ago, barbaris said:

I wanted to change xlm to btc, but the miner commission was 150000 sat. It seems to me very much. Here's what it looks like. Why such a huge miner fee.

WTF that's too much! Maybe just because of so many transactions happening now that bitcoin is going up, that usually happens with my exchange wallet. You can try it out some other time and look again if it changes. 

[williamshennie9]

Like the others said, I don't think it would be practical to reduce it. You also pay the withdrawal fee, so reducing it might lower the incentive for users to trade becuase of the withdrawal fee. But there wouldn't really be a downside to lowering it.

[Etude]

Interesting point being raised here in regards to the coinswitch exchanger in Stake. 🤔 It does very well seems like the fees may actually be on the slightly high side. 

[nattekut]

I used it a couple of times to exchange some BTC into ETH or LTC. And never had to big miner fee before. But If I would have to pay a 150k satoshi fee I wouldn't even think of doing the exchange. then I rather deposit on my binance account and exchange over there

[CntryBoy]

Yeah, 150k sats for miner fee seems pretty high, but using the 3rd party exchanger you have to take into account the average block mining fees and times right now with the increased blockchain traffic.  I haven't used Dinabot yet but plan to look into it as an option.  I'm curious as to if and/or when Stake may install an internal exchanger like a couple of the other top sites already have?

[kayke94]

well its really a good feature! but they have to set higher min. exchanges with the constant price changes etc...

[bobdole]

I'm not a huge fan of outsourcing the exchange function to a third party as we would have to deal with coinswitch if there was any issues but I suppose it's better than nothing. 

[Rock]

really sad, i was exchange 10000 doges and the fee is 3900 its much