Vindax exchange

[Christabel247]

what do you think about vindax trading platform as i m not comfortable with their fees during withdrawal, the annoying thing is that they are all charged in ETH.
have you come acrossed that before?
what do you think about it

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[Jawhead999]

Yes most of the tokens charged in ETH just like using a wallet that need gas on Vindax [1] They're charge large amount money rather than the Balance, especially for ERC-20 token.

Example : Dexacoin (DEXA) minimum withdrawal 50 token, fees 0.019 ETH.

In the current price Dexacoin only worth for $0.00002101/each or $0.0010505/50 token and the fees is $29,3.

If you looking for better centralized exchanges you can choose Binance or KuCoin, Vindax has knownly has a bad reputation in the past since they're has listed many scam coin [2]

[1] https://vindax.com/fees.html
[2] https://bitcointalk.org/index.php?action=trust;u=2513651

[JeromeTash]

This is the first time i am hearing about a centralized exchange charging ETH in order for one to withdraw a token. Usually an exchange is supposed to charge a few tokens a fees not ETH

for example if you are withdrawing BAT ERC20 tokens, you are charged 10 BAT tokens as withdrawal fee and not ETH

Avoid using the exchange. They are proven scammers.

[Christabel247]

Yes most of the tokens charged in ETH just like using a wallet that need gas on Vindax [1] They're charge large amount money rather than the Balance, especially for ERC-20 token.

Example : Dexacoin (DEXA) minimum withdrawal 50 token, fees 0.019 ETH.

In the current price Dexacoin only worth for $0.00002101/each or $0.0010505/50 token and the fees is $29,3.

If you looking for better centralized exchanges you can choose Binance or KuCoin, Vindax has knownly has a bad reputation in the past since they're has listed many scam coin [2]

[1] https://vindax.com/fees.html
[2] https://bitcointalk.org/index.php?action=trust;u=2513651

it is very annoying see that after moving you token vindax at last you will have fraction as return of you have traded in the exchange. i think the team should something about the high gas fee.

[Christabel247]

This is the first time i am hearing about a centralized exchange charging ETH in order for one to withdraw a token. Usually an exchange is supposed to charge a few tokens a fees not ETH

for example if you are withdrawing BAT ERC20 tokens, you are charged 10 BAT tokens as withdrawal fee and not ETH

Avoid using the exchange. They are proven scammers.

haha. i think you don't have to ever try trading there because if it is not worth up the amount of the eth as gas fee you can't make withdrawal.

[joniboini]

i think the team should something about the high gas fee.

They can't really do anything since it's mainly due to a busy network, but they should be able to change their policy and take a cut from the tokens you withdraw instead, just like any other exchange. It seems like they're trying to milk as much money as possible through the withdrawal fees. I guess there is not enough volume to make their business profitable from the trading fees alone.

[Christabel247]

i think the team should something about the high gas fee.

They can't really do anything since it's mainly due to a busy network, but they should be able to change their policy and take a cut from the tokens you withdraw instead, just like any other exchange. It seems like they're trying to milk as much money as possible through the withdrawal fees. I guess there is not enough volume to make their business profitable from the trading fees alone.
[/quote]

this is one major thing that kept binance going and winning like taking over Centralized exchange, i wonder how come about Vindax and their mode of operation, it is blood sucking and worrisome comparing to binance. today binance still remains the best.

[JeromeTash]

this is one major thing that kept binance going and winning like taking over Centralized exchange, i wonder how come about Vindax and their mode of operation, it is blood sucking and worrisome comparing to binance. today binance still remains the best.

They are scammers, so they don't care about reputation or in this case great customer satisfaction. Here are a couple of scam accusations made against them
1. Dubler Token - SCAM - FAKE TEAM & COPIED WHITEPAPER - Running IEO on VinDax
2. Vindax eaten my money - vindax scammers
3. Ethereum Gold - FAKE TEAM / Plagiarized whitepaper - Another SCAM IEO on Vindax

Just move your funds out of that exchange.

[Christabel247]

this is one major thing that kept binance going and winning like taking over Centralized exchange, i wonder how come about Vindax and their mode of operation, it is blood sucking and worrisome comparing to binance. today binance still remains the best.

They are scammers, so they don't care about reputation or in this case great customer satisfaction. Here are a couple of scam accusations made against them
1. Dubler Token - SCAM - FAKE TEAM & COPIED WHITEPAPER - Running IEO on VinDax
2. Vindax eaten my money - vindax scammers
3. Ethereum Gold - FAKE TEAM / Plagiarized whitepaper - Another SCAM IEO on Vindax

Just move your funds out of that exchange.

Oh no!
This is serious issue about this exchange and I will never move my funds to trade in vindax. I don't want my funds to sink 😭.