Ⓜ️ MoBit.Exchange - Anonymous Exchange 💠 Escrow 0.25 BTC 💠

[MoBitExchange]

I don't know if someone already mentioned it, but I just checked out the website and it seems that footer is a little bit off on my display. I used Android mobile phone to access your website. It's not a big deal but probably you would want to sort that out.

This is screenshot of the website's footer:

Thanks for catching this and letting us know. It'll be fixed in our next update.

I have a question for the team that, in the faq, it has been said that in a fixed rate, a 2% market change will initiate a refund, while in the terms it is said that 4% is considered a dramatic market change and that's when the refund is made, so please clear it out, either is it 2% or 4%. Because it can create some conflicts later if someone comes and asks for a refund based on the terms and you gave the refund based on a 2% market change.

FAQ:

Terms:

Thanks for catching this typo. It is supposed to be 2% throughout. The 4% was a typo. We'll fix this in our next update.

@MoBitExchange I need some bit of clarification. What happens when a user tries to request for a refund, let's say after 15 days (which is the maximum time you retain transactional data)?
I am asking this while looking at a scenario where a user has sent an amount that is less than the required minimum which you say you can hold for up to 12 months and tries to request for a refund later

After 15 days, we delete tx hashes and addresses of orders. Therefore, we cannot process any refunds for orders that are older than 15 days. This policy is for the user's privacy and general security.

Our wording of "up to 12 months" is not clearly reflecting this policy and we will update the wording to clear things up. Thanks for pointing this out.


We will let the community know as soon as these fixes are live. Thanks for your continual suggestions to make MoBit a better service for our community.

[ovcijisir]

I don't know if someone already mentioned it, but I just checked out the website and it seems that footer is a little bit off on my display. I used Android mobile phone to access your website. It's not a big deal but probably you would want to sort that out.

This is screenshot of the website's footer:

Thanks for catching this and letting us know. It'll be fixed in our next update.
~

You are welcome, glad that I could help.

One more thing that I wanted to ask you, do you have plans to add more cryptocurrencies in future. Personally I would like to see TON in exchange options, but that is only me.

[Faisal2202]

I have gone through the website to understand what i'm promoting, and there is something really cool i observed about the site, and that is how minimalistic it is, very simple Ui. No unnecessary design or whatnots and i think that is very cool, just get in and swap.

That said, i would test the exchange over the course of the week and post my review here. Good Luck guys!

I can't agree more with you, the simple interface is a good point for those who want all the necessary information on a single page, like reserves, prices, calculations, send and receive, etc. Also, where we can discuss or learn more about them. Absolutely a sophisticated UI, love it.

Of course, the real test will be how it performs in terms of speed, fees, and support. But UI tells a lot more at first glance.

Thanks for catching this typo. It is supposed to be 2% throughout. The 4% was a typo. We'll fix this in our next update.

Thanks for the update.

[Little Mouse]

Message

Code:

I'm holding 0.25 BTC in this address- 1LfEe1xKqSWqP3VuQSSvc8VQkDdzABUuQQ

This fund will be used for refunding swap in case mobit exchange don't fulfill the obligation. Refunds to the accuser will be processed as "first come first serve".

If mobit exchange requests for a refund of this escrow fund, they must wait for at least 1 week to 1 month after requesting the refund, provided there will be no open scam accusation against them.

Signature

Code:

IELDruRz2nuSkMppGeWijb6gChls5Yg/JlYED8+JzA9rDShhzNGnfDFvQF1zBpk2feIVBTG/HgBwZivgU9/bepM=

Signed by address- bc1q4ytcr43xq6xjpj6z0s76r4x4rx2g4fe5qvv9yc posted here

I am currently taking over the management of MoBit escrow.

Little Mouse will make the transfer shortly. The escrow fund will remain at 0.25 BTC. Refunds will only be possible if there are no open cases and will be processed within 30 days of receiving a request from MoBit (if such a request is received, I will announce it).

Code:

Message: bc1qtw38grxww3u8hdzl3jpuwf8ur2untxhw77r85s - bitcoin address intended for transfer of escrow fund from little mouse to icopress.
Address: bc1qtw38grxww3u8hdzl3jpuwf8ur2untxhw77r85s
Signature: IABN0CiVJq0O211ENBEk44TyQoRY8HOM87/jnD1FJyJdOImelT0Vp3U5yC99BRiUddwl6RIuSl06sjH4e+c8AUY=

A previously published Bitcoin address was used for the signature.

Code:

[...] bc1qtw38grxww3u8hdzl3jpuwf8ur2untxhw77r85s

Done- 3e7b4c7c9a50a10c1717e577a5240db46e82826980b87e16e841fbf01c3065a6

Sorry for the delay.

LM

[NotATether]

BitMixList has conducted a review of the Mobit exchange.


The system presents a conventional non-interactive interface for people who don't want to rely on JavaScript. Rates are calculated by clicking on the refresh button right above the order button.

The usual fixed rate and floating rate options were also there. For this evaluation we use floating rates only.

BTC => XMR swap



This swap never completed. The transaction was replaced using RBF to increase the fee, but the system didn't detect the transaction confirmations correctly. I reported the bug to Mobit and they're currently fixing it.

Another swap without RBF worked perfectly.



XMR => ETH swap

This swap took a very long time, almost 14 hours.



AML check reported 41.82/100 risk score with a brand new address (less is better).

Code:

        "entities": [
            {
                "type": "trusted",
                "percentage": 37.74,
                "share": "37.74%",
                "label": "exchange"
            },
            {
                "type": "trusted",
                "percentage": 0.1,
                "share": "0.1%",
                "label": "other"
            },
            {
                "type": "suspicious",
                "percentage": 33.96,
                "share": "33.96%",
                "label": "dex"
            },
            {
                "type": "suspicious",
                "percentage": 8.42,
                "share": "8.42%",
                "label": "bridge"
            },
            {
                "type": "suspicious",
                "percentage": 7.64,
                "share": "7.64%",
                "label": "unnamed_service"
            },
            {
                "type": "suspicious",
                "percentage": 5.11,
                "share": "5.11%",
                "label": "p2p_exchange"
            },
            {
                "type": "dangerous",
                "percentage": 3.22,
                "share": "3.22%",
                "label": "high_risk_exchange"
            },
            {
                "type": "dangerous",
                "percentage": 0.78,
                "share": "0.78%",
                "label": "gambling"
            },
            {
                "type": "dangerous",
                "percentage": 0.11,
                "share": "0.11%",
                "label": "sanctions"
            }
        ]

ETH => BTC swap

This finished much faster than the XMR swap.



AML check reported 68.75/100 risk score with a brand new address. Tiny percentages of dangerous funds sources tainted the AML score despite three quarters of the fund coming from trusted exchanges.

       "entities": [
            {
                "type": "trusted",
                "percentage": 75.86,
                "share": "75.86%",
                "label": "exchange"
            },
            {
                "type": "trusted",
                "percentage": 0.83,
                "share": "0.83%",
                "label": "other"
            },
            {
                "type": "trusted",
                "percentage": 0.7,
                "share": "0.7%",
                "label": "mining"
            },
            {
                "type": "trusted",
                "percentage": 0.61,
                "share": "0.61%",
                "label": "custodial_wallet"
            },
            {
                "type": "trusted",
                "percentage": 0.6,
                "share": "0.6%",
                "label": "mining_pool"
            },
            {
                "type": "trusted",
                "percentage": 0.31,
                "share": "0.31%",
                "label": "payment_service_provider"
            },
            {
                "type": "suspicious",
                "percentage": 0.89,
                "share": "0.89%",
                "label": "bridge"
            },
            {
                "type": "suspicious",
                "percentage": 0.36,
                "share": "0.36%",
                "label": "p2p_exchange"
            },
            {
                "type": "dangerous",
                "percentage": 2.2,
                "share": "2.2%",
                "label": "mixer"
            },
            {
                "type": "dangerous",
                "percentage": 1.32,
                "share": "1.32%",
                "label": "high_risk_exchange"
            },
            {
                "type": "dangerous",
                "percentage": 1.3,
                "share": "1.3%",
                "label": "darknet_market"
            },
            {
                "type": "dangerous",
                "percentage": 0.22,
                "share": "0.22%",
                "label": "gambling"
            },
            {
                "type": "dangerous",
                "percentage": 0.14,
                "share": "0.14%",
                "label": "sanctions"
            },
            {
                "type": "dangerous",
                "percentage": 0.09,
                "share": "0.09%",
                "label": "stolen_funds"
            }
        ]

Note: We have received reports that our AML checker sometimes diverges from AMLbot. Due to the proprietary nature of AMLbot's algorithm, it is impossible for checkers to fully align with AMLbot, however, the source categories are still something to keep in mind for these addresses.

[FP91G]

Great job, but why do some exchanges take so long?

[inspace]

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    Ⓜ️ MoBit.Exchange 💠 FREE RAFFLE 💠 $30 in BTC

➥ Pick a SLOT!
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[Shishir99]

Great job, but why do some exchanges take so long?

Umm, this is my time checking the MoBit exchange.
I wanted to swap $500 of USDT for XMR and noticed there is a contest in the games and rounds section. So, I initiated a $700 USDT swap to get two extra slots. But it's been around 30 minutes, and I am stuck with my swap. The deposit was completed, and my current order status page shows: Order will be filled shortly...

So I came to the announcement thread to see if it is normal and if anyone has posted about it. I will update once I receive my XMR, and I will let you guys know how long it takes to fulfill my order.

Edit: I see the tx already, and it has 2 confirmations so far. So, it took around 35 minutes.

[SamReomo]

Umm, this is my time checking the MoBit exchange.
I wanted to swap $500 of USDT for XMR and noticed there is a contest in the games and rounds section. So, I initiated a $700 USDT swap to get two extra slots. But it's been around 30 minutes, and I am stuck with my swap. The deposit was completed, and my current order status page shows: Order will be filled shortly...

XMR orders take some time on any such exchanges because XMR transactions require high number of confirmations. When I swapped BTC to XMR on another exchange I also had to wait to get the coins as XMR transactions require at least 10 confirmations if I'm not wrong. I hope the swap is completed and you received your coins.

[NotATether]

Great job, but why do some exchanges take so long?

Honestly I have no idea. You'd have to ask the Mobit team for an answer.

I did another $1000 swap from XMR to BTC, I didn't exactly record how long it took since it happened overnight, but I received the BTC without any problems.

[Shishir99]

XMR orders take some time on any such exchanges because XMR transactions require high number of confirmations. When I swapped BTC to XMR on another exchange I also had to wait to get the coins as XMR transactions require at least 10 confirmations if I'm not wrong. I hope the swap is completed and you received your coins.

I know that the Monero blockchain is slow, and it takes a long time to get 10 confirmations. I am not talking about the confirmations here. I have swapped USDT to XMR, and it took around 35 minutes to display the transaction only. I did not count the time XRM has taken to be confirmed. XRM confirmation probably has taken another 20 to 30 minutes; forget about that. Mobit cannot do anything about this.

However, they took 35 minutes to show the tx without confirmation, which I consider a long time given that we are using a Swap. If I include the confirmation time as well, then it would be around 50 minutes to an hour. Yes, I have received my coins, and everything went smoothly without any problem. The only thing that bothers me is the time it takes.

[examplens]

To Mobit team
Isn't it logical that the "exchange" button should be at the very end, after the captcha?
It is somewhat unusual that step 4 is placed before step 3.
Also, the captcha has a certain duration, but a new reload requires refreshing the entire page, where other data is deleted, 'to address' for example. Isn't it a more practical solution to enable the refresh of only the captcha and not the entire page?

[hugeblack]

Also, the captcha has a certain duration, but a new reload requires refreshing the entire page, where other data is deleted, 'to address' for example. Isn't it a more practical solution to enable the refresh of only the captcha and not the entire page?

I completely agree. Whenever I make an exchange via Mobit, I forget that there is a captcha (you need to scroll down the page) and then I need to enter the transaction details from the beginning.

Great job, but why do some exchanges take so long?

This complaint has been ongoing since day one.

[hosemary]

Isn't it logical that the "exchange" button should be at the very end, after the captcha?
It is somewhat unusual that step 4 is placed before step 3.

And it's even worse when you visit the website on mobile.
When you are on mobile, The "Exchange" button and captcha both appear before the receiving coin/token menu and the receiving address field.

[Coyster]

I made a swap on MoBit, from bitcoin to USDT. The experience was largely satisfactory, though the exchange page is a bit confusing, as pointed above, and i did the swap on mobile. As for the swap itself, it was quick, if my calculation is spot on, i think it took around 10 minutes, this is including the block confirmation time. I had no issues, so i have also left MoBit a review on both BitList and Kycnot.me.

[Faisal2202]

However, they took 35 minutes to show the tx without confirmation, which I consider a long time given that we are using a Swap. If I include the confirmation time as well, then it would be around 50 minutes to an hour. Yes, I have received my coins, and everything went smoothly without any problem. The only thing that bothers me is the time it takes.

What was the expiry time in the LOG, was it 35 minutes? I am just trying to assume the reason, and since I am trying to learn many things about instant exchange deeply, I realize they might have some double checking script before closing the deal. I opened a trade and it had 20 minutes as expiry on Flat, as if you read the rules for Flat, there is a limit for time which is also 35 minutes.

I would also like to hear why it was delayed, why the scripts of Mobit did not update the status so you could at least relax a bit. Sometimes it happens, I can't really assume or predict what could really be the reason for it. Hopefully, the team can shed more light.

[Shishir99]

What was the expiry time in the LOG, was it 35 minutes? I am just trying to assume the reason, and since I am trying to learn many things about instant exchange deeply, I realize they might have some double checking script before closing the deal. I opened a trade and it had 20 minutes as expiry on Flat, as if you read the rules for Flat, there is a limit for time which is also 35 minutes.

I would also like to hear why it was delayed, why the scripts of Mobit did not update the status so you could at least relax a bit. Sometimes it happens, I can't really assume or predict what could really be the reason for it. Hopefully, the team can shed more light.

What LOG are you talking about? I see they claim not to have logs, but if it's true, how does the track order work then? Of course they have the logs of the orders. I can still enter my order ID and see my order, tx has, deposit address, the letter of the guarantee, etc. So, the no logs is actually "not" no logs. Or I failed to understand what they meant by no logs. Nothing happened, as I said before. There was some delay from their part, but I received my XMR. The tx showed up after 35 minutes.

[hosemary]

What LOG are you talking about?

By LOG, Faisal2202 probably meant the Letter of Guarantee.

I see they claim not to have logs, but if it's true, how does the track order work then? Of course they have the logs of the orders. I can still enter my order ID and see my order, tx has, deposit address, the letter of the guarantee, etc.

According to their FAQ, they keep order informations for only 15 days.
The "No logs" claim could mean that they don't store users' IP addresses or device information.

[Faisal2202]

What LOG are you talking about? I see they claim not to have logs, but if it's true, how does the track order work then? Of course they have the logs of the orders. I can still enter my order ID and see my order, tx has, deposit address, the letter of the guarantee, etc. So, the no logs is actually "not" no logs. Or I failed to understand what they meant by no logs. Nothing happened, as I said before. There was some delay from their part, but I received my XMR. The tx showed up after 35 minutes.

My bad, I should have written the full form. LOG meant to say Letter of Guarantee (thanks hosemary, for your reply). In it, we can see when our deal is going to expire, although if a timer is mentioned on the deal page as well, then that would be a lot better, really. But still, what I meant to say is, when a deal is about to end, like if its time is 35 minutes or whatever, then maybe a normal practice exchange has a script for rechecking whether the TX even took place or not. So after the window is cleared, the exchange's backup script checks that, and that was the one that confirmed your TX instead of the main process or script which was supposed to.

Which is my assumption on the basis of what I learned. There is still some room for improvements, and the openness of the MobitExchange toward such suggestions and clearance of confusion of the customer is going to take them to new heights very soon. BTW, their traffic is already improving.

[SamReomo]

What LOG are you talking about? I see they claim not to have logs, but if it's true, how does the track order work then? Of course they have the logs of the orders. I can still enter my order ID and see my order, tx has, deposit address, the letter of the guarantee, etc. So, the no logs is actually "not" no logs. Or I failed to understand what they meant by no logs. Nothing happened, as I said before. There was some delay from their part, but I received my XMR. The tx showed up after 35 minutes.

They keep such information for user safety and for their own safety. If a user faces an issue the Letter of Guarantee is the only proof with the user that he/she has started the order, deposited the funds, but hasn't yet received the swapped coins. At the same time, the Letter of Guarantee saves the platform from the scammers who create fake screenshots and claim that they've deposited the funds but haven't received the swapped coins. So it's a proof with the user about the transaction, if a user faces an issue then with help of LOG or Letter of Guarantee the user can ask the support team of the platform to solve his/her issue.