Bitcoin Forum

Changed 30 dollars of dgb for 20 dollars of ethereum. Change exchange. To limit of the scam

It may be due to two things:
1) high transaction cost.
2) high volatility.
Next time before making such a deal make sure you have checked and afford the deal. If something does not seem correct or fee is high then cancel the deal. No platform forces you to complete the deal.

Most chances this happen due to volatilty because right now most of coins droping very quickly and sometime staying so just because of this op receive very low amount mostly he need to double check before every transaction because its some risky case right due to market volatilty.

What do you mean by here?

I know Changelly before but not aware of their status but either way, if a certain service increases their fees, it's not a scam.

You can change it instead to, "Don't use their service as their fees are horrible and insane".

IIRC, they really are high in fees and it's not like the typical exchange that you use every day. Avoid using them if you don't want to have the same fees as them.
Go to Binance and exchange those DGBs to ETH into the nearest value.

   I agree with you Goinmerry, it's not a scam if they have higher fees, the headline is not right. You gave him good advice,
OP should change the headline. In the future he should try to check the fees of the service he plans to use, there are many
good exchanges with lower fees. DYOR before trusting someone with your own money, is it a service you will use or the
investment you will make.

Buying on these platforms is like buying and selling OTC. For high volume traders, $ 20 is a small amount for such a trade. But for a person who buys a few hundred dollars, that's a huge fee.
You don't need to be angry with that fee, they do the service and that's how their business is.

Next time do own research before using any kind service, you can type The service name with scam or review on google search.

This is not surprised, on the past Changelly also scam by charging huge fees similar like you [1] [2]. But I don't know if they're scam you, because you didn't explain properly, attach proof and using proper scam format [3]

Also that huge fees can be caused of DeFi hype (because of high volatility)

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[1] https://bitcointalk.org/index.php?topic=1435275.msg25081705#msg25081705
[2] https://bitcointalk.org/index.php?topic=1955524.msg19422529#msg19422529
[3] https://bitcointalk.org/index.php?topic=260073.0

Don't they show you the rates before? I just used them to swap my USDT to ETH recently and they give me a good rate (maybe just a slight difference of $1 or $2). But I don't really recommend them due to the KYC card and sometime fees like this.

I used to use that and I got around 100 referrals in it but after a while, i saw some shitty coins are going there and the exchange rate has become crazy so I stopped going there also my referrals because i haven't got any fee out of them for a long time now.

That should be the case you have the option not to use their service in Exodus wallet where they have an embedded exchange the fee is also high sometimes but I have the option not to use it or come back when the fee is much lower. because of that's happening in the market and the volatility plus the profit of the exchange, you cannot expect to have less charge fees all the time.

When you are looking for instant swapping then the rates are not going to be better than market rate, it might be little lower and it is already mentioned in that process I guess and high transaction fee for ethereum ate some of your capital so its not the right time to move small amount of ethereum.

Instant exchanges such as Changelly et al. always post the exchange rate and the transaction fee before you send your coins. Why you still did it after you know the ETH tx fees will rekt you? I don't recommend instant exchanges for BTC or ETH as output because of the fees. But instant coins like XRP, TRX, BCH, etc. would do just fine.

Correct me to my understanding about this one, you bought DGB worth 30$ to someone else? am right?
Then, after you do it the person gave you 20$ worth of ETH? right? So, if this is the situation, why did you agreed
to this kind of transaction that in the first place you already lost 10$?

yes, of course. Changed the subject

Yes, ever used Bittrex. But i tried and is horrible! horrible fees!

the eth tax fees where 65 cent. but the final balance don' t was 29,45 dollars of eth, it was 20 dollars.

Are you sure it was the network fee, not the exchange (0.25%) fee one?

https://i.ibb.co/CPfr0DZ/Screenshot.png

The network fee currently is 0.02917 or ~$10.76. The problem with instant exchange is the fluctuation in network/miner fee won't cancel the deal, but it will go through and cut your converted ETH. Don't use instant exchange for expensive coins, since maybe Binance et al. will offer cheaper withdrawal fees.

Changelly is not a scam. Having big fees is not a scam. It is a rip off, for sure,,, but nobody forced you to use them, you know that right? Go for a DEX or P2P platform if you really want the best value but understand also that for small amounts like that, you are better off buying direct from P2P. Fees are crazy just to transact too so be prepared to lose a few dollars.

big horrible fees.

yes, of course. never use instant exchange for expensive coins.
a question out of theme: what you use for linking the images on btctalk?

If you are conversant with the current situation on ETH blockchain, you will realize that the network is congested and thus, transaction fees have gone up. I think that is what happened with your transaction on changelly

OP if you want to replying people, make sure you quoted and reply it on 1 post only. Because posting multiple in a row is not allowed.



He's using imgbb [1] or you can use another option hosting sites (e.g imgur). Upload the images and copy paste the BBCode.

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[1] https://imgbb.com

Have you know that ETH gas fees are high recently? Changelly isn't the one to be blamed nor had any problems with the ETH fees, it is on the ETH itself. Even Binance's ETH fees had been spiking recently, and I guess all/most of the exchangers that has ETH transactions did the same.

Better read this article: https://en.ethereumworldnews.com/high-eth-gas-could-cause-binance-to-increase-ethereum-withdrawal-fees/

Each exchange will match the withdrawal fee with ETH network activity, the increase in high gwei fees has hindered previous transactions with low fees. I think people have been holding their balances on Binance waiting for gwei fees to decrease.

I don't really understand why you are complaining here, you need to understand how something works before criticizing it, the way it works is that is check the order-book of the exchanges and pick the available one for you and minus transaction fee which they still subtract from your money. This is why centralized exchanges are better, you know what you get.

He already explained the reason why he complain and that is because of the fees which was so expensive  . If that happens to us for sure we will also complain but maybe not to the point of complaining on public or by creating a thread on a forum .

What order book ? This is not a typical crypto exchange but it was an auto exchange and there's no order book on here . All you can see here is the amounts and the crypto address that your going to use for pay and to receive . This isn't also a dex but it's a centralized one  . If I'm not mistaken

We do have our likes and dislikes for the fees with the particular exchanges and services that we use. If you don't like the fees, you're always free to look for something better.
Another exchange that has better and justifiable fees based from what you think is an acceptable fee for your transactions.

Eth fees are certainly high right now but not 20 dollars, or not anything remotely around that level. Right now eth fee's are around 3 dollars if you want to send on a decent time, it is not going to be 30 seconds but it will definitely be under 20 minutes or so if you use 3 dollars, less you use longer it will take, more you use faster it will be.

Obviously if you use something like 20 dollars on eth, you would still do it, it would be very fast, you will get it under a minute probably, whatever the next block is, you will get there, but you do not have to do that. Not saying 3 dollars is cheap, it is still a lot, it should be under 50 cents for sure, every coin including bitcoin should be under 50 cents, but just because it is high doesn't mean 3 and 20 are the same.

Man, I just used Kucoin exchange just now and they are only asking for 2.5 dollars and it's literally instant. I don't know why Changelly exchange is asking for 20 dollars because that is really absurd even for the current gas fee today.

I'd recommend OP to find a better exchange since there's a lot out there that is reputable enough and doesn't demand much.

I have been using Changelly without a problem for a while. Those absurdly high fees are a consequence of ETH network and have nothing to do with Changelly itself, try to make a swap on Kyber or Uniswap when ETH network is clogged, you will get the same result.

Yes, that's right, wherever someone uses a place to exchange tokens or coins, the result will still be the same if the ETH network is still not as stable as it used to be, so it's very clear that this problem is with the ETH network not at the exchange.

Actually not only Changelly but almost all p2p experience the same thing, I use p2p fixedfloat and also simpleswap and I see their fees are not much different from Changelly, maybe if you want cheap fee it's better to use cex exchange.

I have manually compared some exchanges and found changelly to be least costly for many of the transactions than other exchanges when I'm just converting one coin to other. Specially when I'm converting a coin to high fee coin. The deciding factor is the withdrawal fees of popular exchanges as most have a larger withdrawal fee for coins like bitcoin and Ethereum. But when you are converting larger amount, popular exchanges like binance would be better on all cases.

I have tried to make use of Changelly once and after installing their application, I checked the fees and it was high, I had to uninstall it. Even when you’re trying to buy cryptocurrency using your debit card the fees are also high, and they make use of Simplex which will also charge you around 6% of the amount you’re about to buy.

As of recent I have been making use of P2P as they are way cheaper than making use of these big platforms, unless you’re way too concerned about safety, but P2P can also be safe if you can find traders that are trustworthy, and there are lots of good P2P exchanges to make use of, and my favourite exchange is Paxful which is quite popular around my side.

I have been trading in Changelly for quite a long time and have never encountered such a situation, maybe your order is down and you should ask for support. I still trade today at Changelly but the fee is okay and nothing happened, just your case is the problem. You can get help from customer service and get your lost money back. ;)

This situation have nothing to do with scam and the last time they are not the only exchange site that increase their service fees but their seems to be much than the exchange site I used on Monday. However, the coin is listed on others exchange site and it will be better if you those exchange site  instead.

the default gas fee's for ETH buy or sell is very high now , try to minimize the gas limit always to reduce the fees to minimum. i guess Changelly  just passed on the fees to you

Having a high or low fee is just normal for most of the exchanges online, and we cannot really control the fees since this is what miners get as a profit. I remember back in the day where Changelly has a lot of scams issues here in the forum and even in a lot of cryptocurrency websites. I used it a few times without problem in the past year and it is still operational until now so probably Changelly is already a good exchange for some holders or investors of cryptocurrency. There are also a lot of choices or exchanges online where you could easily convert your bitcoin or cryptocurrency easily.

You're right but shouldn't encourage others who choose to use the same exchange to quilt. Personally I don't use this cryptocurrency exchange often but in some rare occasions. We'll know that the market of ethereum has increased in it transaction fees which could equally affect the said cryptocurrency exchange, so, don't totally blacklist them for their high fees.

i think don' t is possible 10$ of fees for 30$ transaction

Wow that sounds extremely high. It might have been due to the high gas fees that was around. Buy It is better to use some way where you can control the transaction costs .

Yes, and for now I personally prefer to buy any coins using dollars, because I can control them well and make withdrawals via TRON tokens because the transaction fees are very cheap when compared to ETH and others.

where do you buy the coins using dollars? Is it possible using euro?

Changelly is a centralized swap service, it is not an exchange in the true sense of the word, thats why they have higher fees. They provide user friendly option how to immediately buy / sell cryptocurrencies with a credit card, thats what you are paying for. :)

That is $10 for the trading fee and if you wanna withdraw less $10 again and you are left with $10 worth of ETH. sweet! 

There are still exchange today that impose such high fee not just Changelly, HitBTC particularly ask 0.0015 BTC for withdrawal. Not ideal for someone with just few coins to withdraw and even if you try withdrawing XRP or TRX, it will still cost $15 worth. 

Yes, but HitBtc for withdraw some altcoins has very low fees.

if you make a withdrawal at that place using ethereum you will indeed be exposed to very expensive fees, for XRP and TRX are also still expensive, you can try to make a withdrawal with EOS, the shipping costs are still very cheap and the price tends to be stable will make you calm when transaction.

Honestly exchanges do started to cost a lot, most exchanges didn't changed the structure when bitcoin price went up, so when it was 12k dollars I remember one place taking 10 dollars while other was taking 4 dollars (binance I think) that is not really the price I would like to pay for crypto withdrawal, that is too much.

Of course if I use other altcoins that are smaller I could totally get away with it, most of them do not have any cost at all, so if I want to move money around I just have to trade it to something else (costs less) and then withdraw there and then trade it back and cash it out, all of this is more work but in the end you end up paying soooo much less than what you would have paid with withdrawal completely. I really can't stress enough how much you should look into that.

WELL, I abandoned them long time ago. i discovered that their charges were too high and you might not get the exact proportion of the token you exchanged. they claimed it is due to high fees. meanwhile your token have been collected to exchange with small fees. i think they should be deducted charges from your deposit and send exacted what you are suppose to get.

yes. I ve always done that. But for try they fu..d me

to make you understand the incorrectness of these people I tell you that I had made a review on Trustpilot and they reported it. At this point we must also understand the truthfulness of trustpilot since it moderated me. I strongly advise you not to use Changelly.

It's not right to call them scam because of their fee, it is when they did not complete your transaction or you did not receive your fee that you can call them a scam, and if you did not receive your coins this is not the right place section to create scam accusations here, You did not lose money here the title is not accurate.

People who want instant swap may go for shapeshift or changelly like services and they will be okay with high fees because they save lot of time in the instant swapping service.I used them before at that time they are KYC free but now made KYC as an important feature for swapping coins so I didn't used them for a while now.

That's true, people who wanted instant trade still okay with such high fees they wont be bothered as they needed to have
a quick exchange between fiat to crypto or vice versa.

trust me there are people who are willing to take  it they are not being bothered with that especially
if they don't have other options or they don't want to use another exchange.

unfortunately KYC is very important to do because the exchange will know that the funds are safe and not from theft from cryptocurrency or money laundering in a very large amount, so keep doing KYC for our good, there's nothing wrong with doing KYC because that's also for our security.

You have a choice and it's up to you if you still use their services or not. In fact, there are a lot of exchanges offering low fees.
But somehow at this time, fees are increasing due to the market demand and heavy network traffic pushing us to set into higher fees in order to get the high spot for fast confirmation. But of course, it's up to us again and we can't also expect that it arrives at its destination in a few minutes but mostly it takes an hour or more.

No, it isnt because just on having that fee increase doesnt signify that they are scam.Changelly have been here on this market for a while now and they had prove out their service is legit and you cant
blame them if there are times where fees are horrendous because no one can control nor stop when the entire network do puts up into that situation.Its affecting everybody and pretty sure
if you do try out to make some conversion now then fees are already in normal range.Also you can opt in on using other instant exchange like coinswitch.

Thanks for warning us, changelly is for a big amount not for a small amount like $30 no one will push through changing their $30 coin for a $10 fee it's unreasonable, I will look for a better exchange, and besides, there is a lot of scam report on Changelly I will have a second thought of using their service because of those reports.

Different exchanges having different kind of KYC verification, some needs out personal information along with one national identity but there are some others who needs selfies with something written on it which looks scary to me so I will go with easier ones and basic KYC so I can stay away from money launderers and also can keep doing my trading activities.

No, better not use an instant exchange. Classic exchange are better: bittrex, coinbase or, but never used, binance. Ok, is not a scam, but 35% of taxes are so horrible and is not a fees question

I never used changelly but this is a big platform. If the posted on OP is true then this is scary thing actually. I dont think this will be a big issue as this platform is backed by a lot of big names. Maybe this is a fud but some of my colleagues said that they are using this platform without any issue on fees.

Actually, if we examine in depth, it is very reasonable to apply because instant exchanges provide an easy way to exchange for a slightly higher fee, but classic exchanges also provide good services on several other things such as asset security and transaction fees. which is slightly lower, meaning the two exchange models are equally good.