Price difference at selling transaction BTC

[Guy67]

On Friday 29/1 at 10.03 CET, I did a BTC selling transaction at Bitvavo.com.
The realtime ticker shows a price of 29042 € at that time.
The transaction was immediately confirmed, but has been processed at a price of 26500 €.
How to explain that big difference? How can I avoid in the future?

Thanks

[blockman]

On Friday 29/1 at 10.03 CET, I did a BTC selling transaction at Bitvavo.com.
The realtime ticker shows a price of 29042 € at that time.
The transaction was immediately confirmed, but has been processed at a price of 26500 €.
How to explain that big difference? How can I avoid in the future?

Thanks

I'm not familiar with that exchange that you have mentioned. Well, the first thing you need to do is to use a better exchange to avoid that price difference that suddenly comes after your sell order. These are the exchange I'd like to suggest to you.
~ Binance
~ Kucoin
~ Kraken
And there more of them but for your own reference. (https://coinmarketcap.com/rankings/exchanges/)

[YOSHIE]

I've seen on this forum about Bitvavo.com exchange, which asked about photo id, Topic: Bitvavo wants photo of bank card, however, there is no continuation, so, do not know exactly how the process about the Bitvavo.com exchange.

For future advice, if you live in the Netherlands, there is a reputable exchange on this forum which is used by many communities.

For example:
Topic: LIST OF EXCHANGES - UPDATED DAILY!

Topic: New Fast Bitcoin Exchange in the Netherlands

In the future, you should just use the Bitcoin exchange which is often discussed here, if there are problems, you can ask your complaints here, at least there is a solution for you in the future.

[NeuroticFish]

The realtime ticker shows a price of 29042 € at that time.
The transaction was immediately confirmed, but has been processed at a price of 26500 €.
How to explain that big difference?

I am not familiar with that exchange, but I'll try to help.

First, I think that you've been using a service that does the exchange on your behalf.
It's unclear to me what you meant by "realtime ticker", was that the price they did show in the "you receive" box (see step 3) or was it somewhere else?
If it was the price from inside that box, minus the fee, then you better ask their support (!).
If it was the price from somewhere else, another exchange or maybe preev.com, then I think that there could be an explanation.

At least I've encountered services doing this:
As I started, they sell on your behalf. This means that they take care of everything, but they don't do it for free.
At an exchange, they have found a buyer. They sold, they probably sent the money to your bank account and paid the fee.
And obviously they've taken their own fees for the service, fees that are usually visible as a bigger spread (sell much cheaper than you'd do, buy more expensive than you'd do).

Of course, you'll have to confirm for yourself that this has happened.

How can I avoid in the future?

People have suggested this and that exchange.
"Normal" exchanges will let you place the sell order which will stay there until a buyer is OK with your price and buys. You'll sell then at the price you want .. or not sell at all.
Or you can sell at the price buyers offer, which may be a little bit lower. This will mean some fee, but very small, about 0.15%-0.25%.
After selling at something close enough to the market price, you'll have to handle the withdrawal and the related fees.


All in all, there are multiple types of exchanges and multiple ways to handle the selling/buying. Be more careful with what you are doing, make screen captures (I am still doing them now and then) since they could help when you are asking here or the support. Read more details. Gain more experience. And until you have the experience try to work with smaller amounts/values.

[JeromeTash]

It's a common thing with such exchange services that help you to swap your cash for crypto except that in this case the gap between the market rates and the rate with which you bought Bitcoin is so high.

My suggestion is to avoid such exchanges as they have insanely stupid rates and high service fees. Instead, just register and use exchanges like Binance, Kucoin etc where you buy and sell Bitcoin at the exact price you ordered it.

[JooBra]

On Friday 29/1 at 10.03 CET, I did a BTC selling transaction at Bitvavo.com.
The realtime ticker shows a price of 29042 € at that time.
The transaction was immediately confirmed, but has been processed at a price of 26500 €.
How to explain that big difference? How can I avoid in the future?

Thanks

You should check the margines and prices... If exchange has low circulation the price knows to be different than it should be. And also they have bigger margines that take for them. Its best if you use one of biggest exchanges.

[Oceat]

It's a common thing with such exchange services that help you to swap your cash for crypto except that in this case the gap between the market rates and the rate with which you bought Bitcoin is so high.

My suggestion is to avoid such exchanges as they have insanely stupid rates and high service fees. Instead, just register and use exchanges like Binance, Kucoin etc where you buy and sell Bitcoin at the exact price you ordered it.

I strongly agree with this, I myself experience this in our local exchange and I think this is common because how they are too advanced or late that if you trade with them their rates is too high. It's better to use Binance or any other reputable exchanges that has been around already to avoid unnecessary paying high transaction rates and price difference.

And one thing, OP should use local exchange only if he wants to trade crypto to fiat and not use it to trade crypto because the problem of price difference is always present.

[error08]

There are
2 conditions that may cause it.
- bitcoin price gas drop in a second, at a time where the price fluctuates, it could rise or fall instantly.
- shady exchange charge a high fee, terrible service, just read their terms of services.
Yes, better to choose another exchange for buying bitcoin if that's the case.

[seleme]

I see 3 problems that caused lower bid rate than expected. First, the illiquid market depth caused the transaction has been processed on lower rate, second the bot trading system has caused the order abuse methods which resulted sudden drop and the third possibility is the huge fees that can be preset huge minimum fee. You have to contact with support for explanation.

On Friday 29/1 at 10.03 CET, I did a BTC selling transaction at Bitvavo.com.
The realtime ticker shows a price of 29042 € at that time.
The transaction was immediately confirmed, but has been processed at a price of 26500 €.
How to explain that big difference? How can I avoid in the future?

Thanks

You should check the margines and prices... If exchange has low circulation the price knows to be different than it should be. And also they have bigger margines that take for them. Its best if you use one of biggest exchanges.

I doubt it is a margin traded caused issue, the ticker can be manipulated with help of various trading bots. The difference can't be bigger than the average market rate, otherwise, it is rigged as hell. The bigger exchange never does such shady things, the popularity is pricy.

[Guy67]

OK.... thanks for the useful advice from you all.

To be more specific... I need to add that I was looking at the mobile app indicators at that moment, as I didn't have the opportunity to use the advanced functions at the time. It concerned also the hectic period of the Elon Musk twitter influence....
Transaction costs are under control so that wasn't the problem, but I agree that I'd better move to another platform...

[sujonali1819]

but I agree that I'd better move to another platform...

This is the main solution at this moment. The amount you already lost you can not get back it now. So to not face this issue in future better to go other reputed exchanger.

As like other I am also not heard the name of this exchange. And I think the site has very lower liquidity and price fall in sec during making your trade. but not sure exactly how happened to you.

[$crypto$]

but I agree that I'd better move to another platform...

This is the main solution at this moment. The amount you already lost you can not get back it now. So to not face this issue in future better to go other reputed exchanger.

As like other I am also not heard the name of this exchange. And I think the site has very lower liquidity and price fall in sec during making your trade. but not sure exactly how happened to you.

How can the OP happen to sell BTC on an unknown exchange even though now I am new to it, I don't know whether this is credible or not, which is clear seeing this case when exchanging large amounts, then something like this will be a problem it's hard to imagine how The OP chooses an exchange like this so that there should be others that are more trusted.

In fact, many cases like this happen because of ignorance, therefore I convince the OP to move, this is the best advice in comparison to having to review those that will not come back.

[semobo]

On Friday 29/1 at 10.03 CET, I did a BTC selling transaction at Bitvavo.com.
The realtime ticker shows a price of 29042 € at that time.
The transaction was immediately confirmed, but has been processed at a price of 26500 €.
How to explain that big difference? How can I avoid in the future?

Thanks

If it is a traditional spot exchange then you are going to set your desired price for selling means your probably set the wrong price at the time of creating trade order. Next time please take a look at the price before execution of any trade.

And one more suggestion is stop trading on unknown exchange because the name you mentioned unfamiliar or willing to shill for it in a legit way with constructive posts?

[joniboini]

Transaction costs are under control so that wasn't the problem, but I agree that I'd better move to another platform...

Good idea. I second the opinion that the exchange you used was shady or have terrible rates at least. For comparison, I usually use the same "instant platform" to quickly swap my crypto, and the worse scenario is I got a 5% price difference (including fees etc). A difference of nearly 10% is more than just "bad".

Another tip, find a service that has a "locked" price when you sell instead of a floating price, at least you'll minimize the risk of getting soft-scammed like this and have a good basis to protest them later if you got less than what you expected.

[el kaka22]

For comparison, I usually use the same "instant platform" to quickly swap my crypto, and the worse scenario is I got a 5% price difference (including fees etc). A difference of nearly 10% is more than just "bad".

Another tip, find a service that has a "locked" price when you sell instead of a floating price, at least you'll minimize the risk of getting soft-scammed like this and have a good basis to protest them later if you got less than what you expected.

I would say if you are going to use a regular CEX that means you should probably go with Binance and one local exchange you have in your nation where you can get money to your bank account, those two are the only two that you will ever need. If you are going to use DEX that depends on which chain you want but if it is erc20 there is metamask you can use as wallet and they have swap in it that checks the prices in every good place and you could literally pick the best price of them.

I would say having these types of huge names that you deal with is more than enough, if you are working with another place that means you might end up with nothing at all in your hands and you would be upset about it. I am not saying you should never check other places because that would kill competition, but do not put all your money into the new ones if you ask me.

[konflikkastil]

How can we avoid this kind of error while we want to do any transaction is kind of a hard thing that in my humble opinion, I do not think it will be possible. The possibility of you not getting the value of the total coin you transferred to an exchange whenever you want to sell or convert your coin. This is so alarming and has caused me hundreds of dollars personally. I have learnt my lesson in a very hard way. So, I came up with a solution I'm using presently. I make sure I checked the Exchange out very well before doing any transaction there. Cause the cause make you lost your token for life. There was a time I transferred a coin to an Exchange, only to know that it wasn't up to the minimum amoy required by the Exchange.

[Webetcoins]

On Friday 29/1 at 10.03 CET, I did a BTC selling transaction at Bitvavo.com.
The realtime ticker shows a price of 29042 € at that time.
The transaction was immediately confirmed, but has been processed at a price of 26500 €.
How to explain that big difference? How can I avoid in the future?

Woww I guess this is the first time you’re making use of this exchange, if not you would have been aware of something like this? And by the way you should have gone through their FAQs and everything to know whether there are some fees you need to know about and all that, these are really important, because I am thinking that you getting such an amount is as a result of the fees they charged you.

Another thing can be when you’re living in a country that is not US, the coins you sell if they are converting it you might be getting less. Try to make use of better exchanges where you shouldn’t go through such loss again.

[mico.serge]

That Bitvavo.com seems to be not that trustable tho, I didnt even heard of that one before

[poodle63]

Maybe im late but that's just shady it reminds me of that one crypto debit card provider back then who have their own rate of converting far below the market therefore making double profit from the fee and the price margin.
You just leave that kind of exchange because if they could use the rate below the market, what's prevents them from stooping even lower?