Ok here is an example:
I wanted to send 16000 rupees. I had to pay 16400.
I got a message .08218100 bits are sent. I received .08018100 at Poloniex.
If you see overall I paid 16400 and received 15382 at Poloniex. I will attach images also. Isn't it too much?
indeed that is
way too much. i imagine all the charges are on Zebpay's end. i am not sure if poloniex charges any fees for deposit. for comparison:
sent to Poloniex via Blockchain wallet : 0.01023532
Fees charged (network + Poloniex) : 0.00007232
Total Received in Poloniex : 0.010163
This works out to a 0.7% fee I incurred, which is a-ok by me.
You should take into account the rates too.
First of all Indian market is in premium than western market, so you should never calculate value according to $$.
Also you have to calculate price according to Buy price & sell price as Zebpay spreads are huge.
I know what your problem is here.
Now lets say you sent money to poloniex when the rate was 2 lacs. so zebpay will show you the amount at the current BUY rate & not the SELL rate.
Suppose you sent 0.08218 when the buy rate on zebpay was 2lacs. So total amount sent will show as 16400.
Now that BTC reached at polo, price of BTC fell around 191k. so yours current value of 0.08018 btc will be 15380..
You are just getting confused over prices.
I too dont like the txns fee they take. they are too much. but they dont have any hidden charges..
Bro! I fully understand your point, most of the times I have immediately sent to Polo and shouldnt be that much variations. Ok I may agree if price fell i might have got less, but there were many occasions when I bought and price got higher still a huge sum was deducted. How can we earn if we would pay this much amount only during transferring of money?
Another point I dont understand, while transferring they have fixed like till 50000 bits 1200 bits charges, till 100000 bits 1500 bit charges..ok I have no issues paying this....after that whatever sum I send that should reach to Polo, why they again deduct during blockcypering ?
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