150k euro/year listing fee at CoinPayments.net (must pay $25 to receive a quote)

[dennisch123]

To submit a coin, or better said request a quote from coinpayments.net they require you to pay a non-refundable $25

Okay...

I paid the $25 and received a quote for 50000 euro per 3 months, 90k euro for 6 months, or 150k euro for 1 year.

That's completely absurd.

Sure i agreed upfront to pay the submit your coin 'fee' but I expected realistic pricing, not to be extorted by them.

Looks like a nice little scam they got set up there.

They are also talking about supporting 675 coins, however the supported coins page only lists 70 of them (their email said that my coin would be listed there as well).

So I'm wondering why those 605 other coins are supported by their platform, without having to pay those absurd fees, because if those 605 coins/tokens paid those fees they would also be listed on their supported coins page which isn't the case.

[Oilacris]

To submit a coin, or better said request a quote from coinpayments.net they require you to pay a non-refundable $25

Okay...

I paid the $25 and received a quote for 50000 euro per 3 months, 90k euro for 6 months, or 150k euro for 1 year.

That's completely absurd.

Sure i agreed upfront to pay the submit your coin 'fee' but I expected realistic pricing, not to be extorted by them.

Looks like a nice little scam they got set up there.

They are also talking about supporting 675 coins, however the supported coins page only lists 70 of them (their email said that my coin would be listed there as well).

So I'm wondering why those 605 other coins are supported by their platform, without having to pay those absurd fees, because if those 605 coins/tokens paid those fees they would also be listed on their supported coins page which isn't the case.

Dont bother up yourself to pay up those ridiculous prices yet there are other exchange which doesnt require on paying upfront when you tend to list up a coin.
If you do try to look up things behind with coinpayments then you can actually see this.
https://bitcointalk.org/index.php?topic=2164985.0
https://bitcointalk.org/index.php?topic=1694776.0
https://bitcointalk.org/index.php?topic=1633974.0
https://bitcointalk.org/index.php?topic=1546008.0

Old thread but good for preference.

[dennisch123]

Dont bother up yourself to pay up those ridiculous prices yet there are other exchange which doesnt require on paying upfront when you tend to list up a coin.
If you do try to look up things behind with coinpayments then you can actually see this.
https://bitcointalk.org/index.php?topic=2164985.0
https://bitcointalk.org/index.php?topic=1694776.0
https://bitcointalk.org/index.php?topic=1633974.0
https://bitcointalk.org/index.php?topic=1546008.0

Old thread but good for preference.

I found those thread afterwards indeed, as well as a bulk of 1-star reviews at several review sites.

Thought I just share my experience. Where I'm from, the Netherlands we have dodgy real estate agents that require you to pay 100-200 euro before they show you the houses and apartments they have for rent. That has been in the news and that kind of practices are forbidden nowadays.

I wonder if its worth it for them for 25 bucks to be once again in the spotlight in a negative way? Guess so

If you read this CoinPayments, I'm not asking for a refund, you can keep it to pay some VA to post a bunch of positive reviews instead.

[LeGaulois]

Perhaps you don't see the ~600 coins listed because they haven't renewed their contract period. And Coinpayment may not have updated their stats or keep it intentionally to make people think, the system is very popular and worth to pay for. But the price you quoted is completely sill, especially considering it's not a one-time fee :/

[CoinPayments]

Hello from the CoinPayments Team,

While we can appreciate your concern over our hosting pricing, we would like to make it known that there is a significant amount of work involved in adding a new coin to our platform to provide a hosted wallet solution along with automated payment processing through our plugins and APIs. In addition, the ongoing maintenance and liability of users storing coins on our platform also comes with a cost.

However all that being said, we have just recently changed our coin hosting policy. Now instead of charging an ongoing monthly fee, we will instead take a deposit and then provide a FULL refund at the end of the 1 year term, provided that the coin provides advanced notification for any code updates/maintenance/forks/airdrops/swaps/etc...

Our coin hosting page outlines the requirements to be added and we will still charge the $25 application fee for the initial review of the requirements, but most importantly to ensure we only get serious requests (before we received too many requests from coin holders and spammers, and not the coin's core team).

To answer the other questions, all the coins we support can be seen on our supported coins page  (make sure to click the appropriate tab, eg. Crypto, Ether Tokens (Wallet + Payments), Ether Tokens (Wallet Only), etc...).

We are excited to further the adoption of crypto in the mainstream and we hope our new coin hosting program will benefit everyone!

CoinPayments Team

[dennisch123]

Hello from the CoinPayments Team,

While we can appreciate your concern over our hosting pricing, we would like to make it known that there is a significant amount of work involved in adding a new coin to our platform to provide a hosted wallet solution along with automated payment processing through our plugins and APIs. In addition, the ongoing maintenance and liability of users storing coins on our platform also comes with a cost.

However all that being said, we have just recently changed our coin hosting policy. Now instead of charging an ongoing monthly fee, we will instead take a deposit and then provide a FULL refund at the end of the 1 year term, provided that the coin provides advanced notification for any code updates/maintenance/forks/airdrops/swaps/etc...

Our coin hosting page outlines the requirements to be added and we will still charge the $25 application fee for the initial review of the requirements, but most importantly to ensure we only get serious requests (before we received too many requests from coin holders and spammers, and not the coin's core team).

To answer the other questions, all the coins we support can be seen on our supported coins page  (make sure to click the appropriate tab, eg. Crypto, Ether Tokens (Wallet + Payments), Ether Tokens (Wallet Only), etc...).

We are excited to further the adoption of crypto in the mainstream and we hope our new coin hosting program will benefit everyone!

CoinPayments Team

Really, a significant amount of work, like there is not a single ERC20 token on your website among those 650 coins that you have listed. Looks like a copy/paste, rinse/repeat job to me.

Just recently, impressive, literally days after you send me the quote for 150k euro a year. Imagine I had paid that and you'd offer it for free to anyone else with your 100% refund. Makes me wonder if you would have changed your policy had I not posted this. I guess business must be pretty bad if you to rip off people for 150k/year, or is it more like a not-welcome offer to discourage brand new tokens?

Very professional!

The only reason I contacted you was to allow our customers to pay in our own token, no more no less. I contacted some developers with prices ranging from 1000 upto 8000 GBP for a full node.

[dennisch123]

Perhaps you don't see the ~600 coins listed because they haven't renewed their contract period. And Coinpayment may not have updated their stats or keep it intentionally to make people think, the system is very popular and worth to pay for. But the price you quoted is completely sill, especially considering it's not a one-time fee :/

Haha something like that, and now they just made it FREE with a 100% refundable deposit, such an influence a single thread on bitcointalk can have

[timerland]

It's definitely an absurd amount to be paying to be listed.

150k euro could be more than the transaction volume that is generated on their platform altogether during the 1 year period that the contract lasts, and that is only the listing fees. It's Euro as well, so it's actually closer to $200k.

Also, I don't get why you need to pay $25 to get a quote. Another way for them to make money.

I don't think that it necessarily means that they are scam, they are just offering a hell of an overpriced service for sure. They themselves basically admit this through saying that now a refund will be made at the end of the contract term, which raises an important question of whether or not previous paid clients will get a refund as well?

[xDrop]

we received too many requests from coin holders and spammers, and not the coin's core team

fair enough, here's an official request from the main coin dev a fast growing project...

On behalf of the xDrop Crypto Messenger project and it's community, I'm hereby officially request to be listed on your exchange.