Minimum deposit

[moneystery]

something unlucky has happened to me. i am a remitano exchange user and have been using this service for a long time, previously there were no problems, because i usually make deposits directly from my custom wallet. however, for some reason, this morning i immediately deposited without checking my remitano account, and i thought that there would be no problem until i checked my account to see that there were no assets deposited there. i was confused as to why no assets had been deposited, and after clicking on the wallet address section it turned out that the minimum deposit amount there had changed, from initially having no minimum to now being 0.0005btc. i was very surprised, because the amount i deposited was only 0.0004btc and knowing that i contacted customer service (their service was very slow) and what they said was that i couldn't recover my money.

so for beginners here, pay attention to the minimum deposit on your exchange because it may change according to the exchange's policies.

[Plaguedeath]

That's one of many ways for centralized exchange to take customer coins legally, the best is to avoid CEX.

But if you insist, you can prevent it by login into your account before you make a deposit because there could be a change, just like stated by @OP. They also could update their terms to restrict your countries, they change your deposit address, or they didn't longer accept the coins.

[alastantiger]

i was confused as to why no assets had been deposited, and after clicking on the wallet address section it turned out that the minimum deposit amount there had changed, from initially having no minimum to now being 0.0005btc. so for beginners here, pay attention to the minimum deposit on your exchange because it may change according to the exchange's policies.

I used remitano once in the past and I think they had a deposit limit. It strange for an exchange not to have a minimum deposit limit. If they have a withdrawal limit then they should have a deposit limit. Well, I cannot say this categorically because it has been a very long time I used Remitano.

Secondly, I consider it professional for Remitano to send emails to their users whenever there is a policy change. It is the ethical and professional thing to do as an exchange. They shouldn't just change it at anytime they want and allow their users to find out. Unless you are not subscribed to their email list.

Thirdly, the user responsibility part is to from time to time check these exchanges. Visit their website, their their announcement boards for any new information and allow. It shouldn't just be when we want to use them that visit them. Visiting their websites will help us to stay up to date with any new information and will enable us decide if to continue using them or not.

[Porfirii]

I'm sorry moneystery, I thought that 0.000... BTC was dust, but at current prices you lost more than 20$ if I'm not wrong.

Won't they send your satoshis back to you? Aren't you allowed to send the difference in order to count as above the minimum?

I didn't know remitano before but I think that alastantiger's reply is right. However, there should be also a way to get your coins back in your case: 20-30$ are not the same for everybody.

[Zaguru12]

This is forceful confiscation to me, bitcoin aren’t stored on an address but rather on the blockchain which should definitely make it to under that address. In some centralized exchanges it will not displayed yes! Because of minimum but once you send extra bitcoin to that address that is way pass the minimum deposit it will all show the total amount of bitcoin on that address even the first one that didn’t meet the minimum limit.

I would have advise you to do that but I don’t know maybe this exchange actually holds on to the coins that doesn’t meet their requirements which if is true is worse than other CEX. Overall I will advice you in future to either avoid them or cross check your informations before making any transactions there

[Uhwuchukwu53]

This  your experience is disheartening I heard of remitano exchange but has not make use of it, if I may ask is there no way you can send the add up to retain your coin, well just as you inform one need take caution and check in details any exchange why send to know the required exchange rate.

Just as it clear that cex most time has their own way of making some gain from their user I think this is not far from it method.

[DaNNy001]

something unlucky has happened to me. i am a remitano exchange user and have been using this service for a long time, previously there were no problems, because i usually make deposits directly from my custom wallet. however, for some reason, this morning i immediately deposited without checking my remitano account, and i thought that there would be no problem until i checked my account to see that there were no assets deposited there. i was confused as to why no assets had been deposited, and after clicking on the wallet address section it turned out that the minimum deposit amount there had changed, from initially having no minimum to now being 0.0005btc. i was very surprised, because the amount i deposited was only 0.0004btc and knowing that i contacted customer service (their service was very slow) and what they said was that i couldn't recover my money.

so for beginners here, pay attention to the minimum deposit on your exchange because it may change according to the exchange's policies.

Ah! So someone else have had similar experience well that's too bad because same thing happened to me once and I have learnt my mistake so it's good that you posted it here because I know some person might actually comit same error if not properly guided. They say mistake is the best teacher but learning from other people's mistake is definitely the better choice of the two so everyone should take note and be always cautious about everything when using a new exchange or stuffs in general.

[moneystery]

I'm sorry moneystery, I thought that 0.000... BTC was dust, but at current prices you lost more than 20$ if I'm not wrong.

Won't they send your satoshis back to you? Aren't you allowed to send the difference in order to count as above the minimum?

I didn't know remitano before but I think that alastantiger's reply is right. However, there should be also a way to get your coins back in your case: 20-30$ are not the same for everybody.

that's what they say. i don't know how cex operates and i also admit that i was wrong for not checking beforehand, but they should have considered that i have been using their services for quite a long time and they should have a system that allows users to get their assets back, it wouldn't even be a problem if there are fees. but they try to hide behind "those are our rules" and let users lose.

just imagine, this is just 1 case, what about other users who experience similar cases? how much bitcoin assets can they get just because of user negligence. at this point i saw that the exchange was not worth using and i planned to move to another exchange, which had a more reasonable minimum deposit!

[un_rank]

Secondly, I consider it professional for Remitano to send emails to their users whenever there is a policy change. It is the ethical and professional thing to do as an exchange. They shouldn't just change it at anytime they want and allow their users to find out. Unless you are not subscribed to their email list.

Professionally, all policy and feature changes on a website should always be announced before getting implemented. They should have legal doors they can use to indemnify themselves but that puts a dent on their reputation. (Of course, the op may have missed such an announcement).

showever, for some reason, this morning i immediately deposited without checking my remitano account, and i thought that there would be no problem until i checked my account to see that there were no assets deposited there.

Never get to comfortable when using cryptocurrency. Getting complacent can cause one to make some simple errors that will cost them a lot. Always double check the address you are sending bitcoins to before signing a transaction.

- Jay -

[sokani]

There was a time Remitano had a bitcoin address update and notifications were ditched out to their customers. Don't know what changed this time around, whether notifications were sent or not. But after an update such as this, I would expect the exchange to clearly write out the new updated depositing amount close to the deposit address so that customers can easily see and make payment accordingly. If it was done and op didn't pay attention, then op is at fault but if it wasn't, then Remitano's devs did not do a good job.

[DdmrDdmr]

Going over their website, and the information they provide on the minimum deposit amount, it seems that they could explain the cons of not meeting the minimum amount in a clearer manner, as they do in one of their support pages, where a warning notice explicitly states that:

NOTE: You need to deposit more than the minimum deposit amount below to get credited from the system. Any deposit that is less than the minimum deposit amount will not be refunded.

That probably sticks to the reader, who may be more prone to checking these lower limits from time to time.

I’m not sure how the whole depositing process goes on that platform (i.e. if a new address is provided for each deposit, or if you can reuse addresses you’ve once deposited to), but one of the screenshots of the process on their support page does show the minimum deposit amount when you select the coin/token:

I’m not sure if you deposited circumventing the above screen, or if you saw it but didn’t focus on the (changed) minimum amount. They could also play there with colours highlight recent changes (i.e. minimum changed over the last x days).

[un_rank]

I’m not sure if you deposited circumventing the above screen, or if you saw it but didn’t focus on the (changed) minimum amount.

According to the Op the user did not log in to their remitano exchange before depositing, they probably had the address saved and signed the transaction directly, then went to check if it had reflected after confirmation, at which point he discovered the error.

- Jay -

[DdmrDdmr]

<...>

It’s kind of how I interpreted it, but I wasn’t sure how the said Exchange dealt with deposit address reuse. Going over their deposit procedure, it does state that deposit addresses can be reused, though the user can also opt for generating a new address:

You will need to deposit into the provided wallet address (this address is only for your wallet and each coin has its own one). You can move coins directly by copy and paste the address or scan the QR

Create a new address button: if you click here, the address will be changed (you can actually use both addresses as all are your wallet addresses).

Side note: Devil's Merit number now on your profile.

[Crypt0Gore]

something unlucky has happened to me. i am a remitano exchange user and have been using this service for a long time, previously there were no problems, because i usually make deposits directly from my custom wallet. however, for some reason, this morning i immediately deposited without checking my remitano account, and i thought that there would be no problem until i checked my account to see that there were no assets deposited there. i was confused as to why no assets had been deposited, and after clicking on the wallet address section it turned out that the minimum deposit amount there had changed, from initially having no minimum to now being 0.0005btc. i was very surprised, because the amount i deposited was only 0.0004btc and knowing that i contacted customer service (their service was very slow) and what they said was that i couldn't recover my money.

so for beginners here, pay attention to the minimum deposit on your exchange because it may change according to the exchange's policies.

Sorry for your lose, such incident has happened to be twice, the first one was on a new crypto exchange, its centralized and I contacted the team, they get my Bitcoin back for me and warned me that such a mistake must not happen again or they won't bother to help me.

The second on was on Huobi, now HTX, I deposit the wrong amount, just like you, I waited for the deposit to arrive but no Vail, until I find out that I deposited an amount thats under their minimum deposit amount, this was how I lost my digital asset till today.

You can only learn from this, as I doubt if the team will ever help, even if they can, they might choose to take advantage of you, always cross check, not only the address that you are sending your coins to but also the minimal amount that the exchange will be able to credited onto your account, a certain amount allowed today can change tomorrow, always go back and check or stay the hell away from CEXs.

[un_rank]

Side note: Devil's Merit number now on your profile.

That was the first thought that came to my mind when I saw the telegram notification.

You sort of owe it to me now to take off this burden you have placed on me, or I could wear it with pride

- Jay -

[goldkingcoiner]

the best is to avoid CEX.

Basically this is the only reply required for this thread. A short and understandable piece of advice that any veteran coiner will tell you. Following it will save newbies from many many unnecessary headaches.

There are better alternatives. DEX (Like ERC20 or BSC20) and decentralized P2P exchanges (like Bisq).

[uchegod-21]

something unlucky has happened to me. i am a remitano exchange user and have been using this service for a long time, previously there were no problems, because i usually make deposits directly from my custom wallet. however, for some reason, this morning i immediately deposited without checking my remitano account, and i thought that there would be no problem until i checked my account to see that there were no assets deposited there. i was confused as to why no assets had been deposited, and after clicking on the wallet address section it turned out that the minimum deposit amount there had changed, from initially having no minimum to now being 0.0005btc. i was very surprised, because the amount i deposited was only 0.0004btc and knowing that i contacted customer service (their service was very slow) and what they said was that i couldn't recover my money.

so for beginners here, pay attention to the minimum deposit on your exchange because it may change according to the exchange's policies.

I do not just believe that the money is gone. Remitano should actually have a way to refund you if only you prove you are the rightful sender. I have thought that it is a very negligible amount of money but with price surge, it seems to be a good money. I have only heard this kind of complaints about casinos and not CEXs

the best is to avoid CEX.

Basically this is the only reply required for this thread. A short and understandable piece of advice that any veteran coiner will tell you. Following it will save newbies from many many unnecessary headaches.

There are better alternatives. DEX (Like ERC20 or BSC20) and decentralized P2P exchanges (like Bisq).

the best is to avoid CEX.

Basically this is the only reply required for this thread. A short and understandable piece of advice that any veteran coiner will tell you. Following it will save newbies from many many unnecessary headaches.

There are better alternatives. DEX (Like ERC20 or BSC20) and decentralized P2P exchanges (like Bisq).

Consider the case of newbies who know nothing much about DEX, the easiest thing to do is using CEX. CEXs cannot be totally avoided as long as the industry is existing.

[Rockstarguy]

You need to be very careful trading with remitano, their policy is not a good one expecially for beginners. The same remitano exchange always change their bitcoin address from time to time, i won't advice someone to use exchange like remitano because their policy can affect one that is not observant on what is happening.  

I know, no exchange is safe but going through remitano and seeing their features, it is so risky to trade with an exchange like remitano. Security is one of the important things that exchange shouldn't be taking for granted,  in remitano their is nothing good to about security.  I don't mean to rate remitano remitano bad, but they need to improve for the sake of customer which will reduce the risk of losing money.

[nakamura12]

In order for exchange to take custody of your coins is to have a policy like that where if you deposit an amount that is less than the minimum amount then they will take over your coins because that way it won't be a scam attempt since it's your fault for depositing less than the minimum deposit amount. Just contact their customer support and explain the situation so that they will have to refund you the amount that you deposited. When transferring your coins, checking everything is a must and check if there's a minimum deposit or not to avoid same problem in the future.

[BABY SHOES]

Almost the same as this case, but the difference is that you don't see a minimum deposit while this link the casino changes the deposit address.
So make sure before making a deposit first open your account and see if there are any new rules or not whether it's from the minimum deposit being increased or the address being updated by the exchange or any platform without notice.

Cases like this are small but when you do it wrong, it will result in loss.