Scam or bug: flyp.me please help verify

[Beefcake]

Hello, I was checking out this website, and testing with a small transaction. Basically you choose your trading pair, enter the amount, wallet addresses etc. But, you first enter the amount and get an exchange rate that seems to have a pretty reasonable fee (like under 5%). But as soon as I enter my address, it changes to an amount that is about a 25% fee, which is unreasonable any way you look at it. Am I imagining this? Can anyone else verify that the amount changes when you enter your address? If verified, this seems pretty scummy to me, but it's possible I'm missing something.

[1715479059]

1715479059

[hosseinimr93]

Aren't you trying to exchange a very low amount?
I think there's a limit that the fee cannot be less than. That makes the fee higher in percentage when dealing with low amounts.

[Beefcake]

That might be the problem, but it should show that amount from the beginning when you input the numbers. The way it works seems like a bait and switch, but I wasn't sure.

[hosseinimr93]

That might be the problem, but it should show that amount from the beginning when you input the numbers. The way it works seems like a bait and switch, but I wasn't sure.

Yes, that's the problem.
I just tried it to see how it works. As you said, the exchange rate may change once you enter your receiving address.

I tested it with exchanging 0.2 BTC and 0.002 BTC to USDT.
Currently, they give 3929 dollars for 0.2 BTC and 34.34 dollars for 0.002 BTC.
Given that the current price of bitcoin which is around 20,040 dollars, the fee for trading 0.2 BTC is around 2% while it's around 14% for exchanging 0.002 BTC.  

[JeromeTash]

Looks like some sort of hidden fee that one won't notice if they are not keen. Most of the instant exchange have some hidden fees anyway. I would advise you to avoid the service since there are so many great instant exchanges out here such as fixedfloat.

[FatFork]

Can anyone else verify that the amount changes when you enter your address? If verified, this seems pretty scummy to me, but it's possible I'm missing something.

Yes, there seems to be some fixed fee, in addition to the exchange fee, that applies when you enter the destination address. You can easily verify this when you try to exchange BTC for WBTC, which should essentially be 1:1


Fee: 0.00213035 BTC or 2.13%


Fee: 0.00044684 BTC or 4.47%


Fee: 0.00027849 BTC or 27.85%

I guess they are trying to calculate a transaction fee that depends on the destination network being used.

[BitMaxz]

Be careful this is a scam site someone already reported it to scam accusation a long time ago. That site was owned by Holy Transaction which is also a scam if you want to read the whole story better check this thread below and then stay away for now.

- 🔴[SCAM ALERT] HolyTransaction & Flyp.Me ILLEGALY holding more than 100k$ in BTC

[Beefcake]

Thanks for the help guys! And also the suggestion.

[examplens]

OP, I hope you eventually gave up using this dubious service.

personally, I wouldn't trust them. I couldn't find anything on the site about the company behind it. Apart from some usual self-praise, but not a single document or anything that could indicate that they are doing business legally.

I have to post this, maybe it will be useful to someone else. the first result in the search for the term flyp.me review I got enough information.

Don't trust flyp.me
I made multiple swaps and the confirmations were counting up - the next day, flyp.me canceled all swaps, without refunding the transfer fees. Also, their support was lying to me. I was a happy customer in the past, but this was the last time I have been using their service.