Why can other sites do it but not stake ?

[Kate]

Ok so exchanging coins you all onow about it and yeah there is coinswitch exchange as well as there is the bot that everyone uses to exchange but if you look at others sites you could see that they have an inbuilt exchange and it is quick and fast and smooth.

One example is the luckygames one it is fast and smooth and no problems occur.

So why couldn't stake do the same thing ?
Why dont they just take a fee too and do our exchanges so it is much much faster , what do you guys think about it ?

[Gess069]

Yeah that’s a cool feature, hope developers add this one ASAP. As I see taking fees from exchanges is profitable for them, we have Dinabot here in Stake they exchange our money most of the time they take fees but having an inbuilt exchange system would be better for us and Stake.

[unilorin]

I also want such a feature to be included in Stake, it is very convenient for me and other players

[Aazzah]

That would be really good if stake would do that. They would make money if they added a fee and also it would be a lot easier to use and handle.

[williamshennie9]

Stake could really make a lot of money if they did this. I really don't know why they don't. I mean, they have the bankroll for it, and could be pocketing a large amount in fees if they offered this.

[wngo123]

Quote

there is the bot that everyone uses to exchange

I tried to use that bot and unfortunately I can't exchange with it because in order to exchange you need to have account on primedice. I used to have it but not anymore, I think I forgot the password and username I think the account is lost forever, so I opened a new account on primedice and tried to exchange coins using the bot but I couldn't because I can't do a tip to the bot because new accounts are not allowed to tip unless they wager at least $100. So yes it would be really good if we could jsut have in-built exchange at stake and everything would be simple. I would just exchange all the coins to bitcoin lol because I like to play with bitcoin... I don't think stake would loose money because of that.

[barbaris]

In my opinion, there are no problems at Stake with the exchange of money. If you use Dinabot, the exchange runs quickly and smoothly and with minimal commission. Dinabot also transfers money between sites that Luckygames cannot offer. It might have been nice to have something similar, but there are probably a number of reasons why Stake hasn’t done so yet.

[Etude]

Perhaps in this case Stake wanted to be different from as you have put in your example Luckygames and several other sites who offers this. Since there is the feature of the Coinswitch exchanger already provided I think in a way it is more or less the same with the feature you requested but yes maybe less convenient though.

[CntryBoy]

I have mentioned this before as well.  It actually sort of surprises me that they have not incorporated an internal exchange yet.  By using the 3rd party exchanges here, Stake is missing out on quite a bit of money they could be making by having an internal exchanger and charging a small fee for the conversion.  Fees vary so much these days based on traffic and such that some fees are pretty high and it can take some time for the exchange to occur.  Financially it would make sense for Stake to have their own exchange feature as players are often looking to convert from one coin to another.

[Babagucci]

17 hours ago, Kate said:

Ok so exchanging coins you all onow about it and yeah there is coinswitch exchange as well as there is the bot that everyone uses to exchange but if you look at others sites you could see that they have an inbuilt exchange and it is quick and fast and smooth.

One example is the luckygames one it is fast and smooth and no problems occur.

So why couldn't stake do the same thing ?
Why dont they just take a fee too and do our exchanges so it is much much faster , what do you guys think about it ?

They probably just want to focus on the gaming aspect. It's probably a heads he to code and set up.

Frankly it wouldn't matter because no one can touch luckygames built-in exchange, it's the best on the market hands down, that exchange is flawless. Even these multi-million dollar exchanges can't compete against it. It's kind of funny because they put as little money as possible in the UI and no one would think twice about their exchange, little do they know.

So even if stake built it be I would most likely still use LG. Plus with coinswitch and the bot they probably figure what's the point. Who knows maybe down the road.

[bobdole]

They're probably too busy working on other stuff at the moment, that seems to be a pretty low priority thing at the moment since we already have two ways of exchanging as it is. I think they'll do this once they run out of other ideas lol.  

[GKD09]

Yeah true, I remember when I was first here, being a complete noob I saw the exchange feature and thought that was to exchange coins in game but I didn't know how to use it. Then I messaged live support and asked and they said no you can't exchange like that in-game that is only for deposits or withdrawals back then (i cant remember which).

Then when I asked "so theres no way to exchange coins from one to another and sadly they said no". I was not informed of the exchange bot we all use and I know it's not from Stake but they allowed it and all. It would obviously be easier if we can just do it on the site itself rather than go to an external site and exchange. In fact Stake can take a lower fee and surely it'll be faster.

The only reason I think they aren't doing it right now is, since Dina initiated it (not sure who first suggested it), it's not nice to take away her idea and compete with her giving lower fees. Idk. Also since the bot works they also don't find it urgent to do this I believe. 

[lupandina]

17 hours ago, williamshennie9 said:

could be pocketing a large amount in fees if they offered this.

Somehow people thinks, that running an exchange brings huge profits  It could be so only, if it's an platform, which allows p2p exchanges, and taking some fee from it. But if exchanges are running from own platforms funds, crypto prices jumps might eat profits. And the bigger bankroll, the bigger loss might be.

Simple example: users exchanged 1000 eth to btc on 13th june this year. By that day prices, exchange received 1000 eth and send out 32+ btc. After few weeks, on 29th June, users exchanged same these 32 btc back to eth. Exchange received same 32 btc, but send out 1270+ eth by that day prices. Of course, there were and exchanges in otherwise direction during that time, question, which were more? Was exchange lucky enough to get more profitable exchanges then losses, or otherwise? Will few % fees cover it? It's actually like gambling 

9 hours ago, wngo123 said:

I can't exchange with it because in order to exchange you need to have account on primedice.

You don't need to have account in Primedice, to be able exchange funds in Stake

22 hours ago, Kate said:

So why couldn't stake do the same thing ?

Of course Stake could do this. Question is, do they want it.

2 hours ago, pras111 said:

so they choose to include the dina bot as a place of exchange.

Dinabot is 3rd party service, primary purpose of which is instant exchanges between gambling sites. If there's no inside-exchange in site, then Dinabot can be used and for inside exchanges. 

[yololife222]

Hey, they dont do it probably cuse the take away like 5-3% of each exchange and they get more money but if the update an inbuilt exchange the profit wont be so bigg, Its kinda stupid but if wee keep talking about this mabby they will add it to stake no one knows .

[polor12]

just gonna try to get the gist of it.. coin exchange basically converting alt coins stable coins etc to the coins that is only allowed to use in the site...is true they can make a little bit of more money..is stake big enough to hold those coins. yes.. but is stake fully staffed to handled the incoming complaints that would come with it.. they are i can say not as of late.. but before they were way too busy in handling other issues that didn't give them time to  really getting to know the players themselves.. Staff not moderators.. moderators we see everyday.. "Stakes Guard Dogs"... if they didn't outsourced the coin exchange i think the workload would be to  much to handle.. they really not losing any money for outsourcing.. after the exchange where are they going to spend at.. exactly. as the staffs grows.. Dusan a new S member.. and Jovan.. and 1 more Milos.. as the staff grows that only means Stake is growing as well.. soon enough they won't need to outsource the exchange. right??

[williamshennie9]

5 hours ago, lupandina said:

Simple example: users exchanged 1000 eth to btc on 13th june this year. By that day prices, exchange received 1000 eth and send out 32+ btc. After few weeks, on 29th June, users exchanged same these 32 btc back to eth. Exchange received same 32 btc, but send out 1270+ eth by that day prices. Of course, there were and exchanges in otherwise direction during that time, question, which were more? Was exchange lucky enough to get more profitable exchanges then losses, or otherwise? Will few % fees cover it? It's actually like gambling 

I understand your point, market fluctuations can really affect profit, but then again, if the price goes the right way, it can make profits even higher than previously anticipated. So there is a large element of risk involved.

[lupandina]

3 minutes ago, williamshennie9 said:

I understand your point, market fluctuations can really affect profit, but then again, if the price goes the right way, it can make profits even higher than previously anticipated. So there is a large element of risk involved.

Exactly what I meant by "It's actually like gambling"

I believe, other sites, which implemented it, accepted risks as price for making users expirience better. They are profiting from playing, not from exchanging. Well, stake found way to offer that without risks. Honestly? I would do exactly same, if I would own a casino. 

[nattekut]

there is aready an option to exchange your money or to deposit in lots of different currencies. So for me it is not really necessary if stake integrates their own internal exchange. Its just up to them if they want to do that and take the extra money or just keep using the third party exchange service.