♻️ DEX.fo — Auto Crypto Exchange 💚 NO KYC/AML 💚 Escrow 1 BTC

[Hamza2424]

A very good reason to need a fast mode transaction. I never thought it from this angle.

Glad he explained. There are many reasons for a person to make an exchange. Not everyone is here to make an exchange just because they thought they are in profit now, so let's convert it to some other asset, or I want to buy Monero, so let's use DEX.fo.

People use exchanges with no KYC and no logs for many things, and quick exchanges matter most because fees are not everything for some.

[Ultegra134]

There are plenty of people who exchange their coins to use them somewhere else, when you have USDT and you need to buy something froma Monero only palce or you instantly need of ETH for whatever L2-related reasons on that chain yeah, you would prefer a 1% cut for maybe an extra half an hour doing nothing. Not a majority, but it is a portion of the customers.

That being said, Fast mode is available as I speak right now!

I personally don't mind waiting up to an hour for my transaction, but instant (5 to 10 minutes is almost instant to me) are convenient, but I wouldn't pay extra for it. Not sure if this rule applies to the majority of the exchange's customers, but it's how I see it.

Anyway, fast transactions seem unavailable again. If Dex.fo doesn't mind me asking, what's determining the availability of fast transactions in comparison with Chain ones?

[examplens]

Let's make things clear, no KYC exchanges can be used by anyone and offer swapping of one coin to other without any need of KYC details or creation of accounts.
~
When it comes to traditional centralized exchanges like Binance or others, the users already have custodial wallets filled with some coins at those exchanges and that's why they can buy/sell coins at market rate instantly. All such transactions are completed off-chain so there's no delay in such transactions.
~

Nope, just no
- the execution of the exchange is a technical procedure
- KYC is a law,be it enforced or not

Those two overlap, but they are not mandatory for a distinct category
- Binance was a custodial exchange with a 2 BTC max no-KYC rule for years
- CM was a mixer, but unlike any others, it was an instant one since you got your keys the moment the deposit was cleared

Dex could go KYC tommorow (no, please no!) and Coinbase KYC free tommorow it won't change the technicalities!

What the hell did I read in the quoted post?
Why don't people check the basics first before claiming anything? Obviously not knowing the difference between KYC attributes and custodial or non-custodial.

@SamReomo Do you know that there are platforms where KYC is mandatory, but are not financial or cryptocurrency related? Without any digital wallets...
That's completely outside the theory you're advocating.

[DEX.fo_off]

Anyway, fast transactions seem unavailable again. If Dex.fo doesn't mind me asking, what's determining the availability of fast transactions in comparison with Chain ones?

Fair question, worth spelling out properly rather than just pointing at "maintenance" every time.

Chain mode routes through bridges/liquidity pools — it doesn't depend on what we're holding, so it's consistently available regardless of reserve levels.

Fast mode pays out directly from our own reserves per coin, which means reserve tuning is an ongoing, daily process right now rather than a one-off fix — that's why it keeps showing up as unavailable at different points. We're close to having it stable 24/7; just needs a bit more patience while the last of the tuning wraps up.

Appreciate everyone bearing with the current state — once it's fully dialed in, this kind of question should stop coming up entirely.

[MarryWithBTC]

People use exchanges with no KYC and no logs for many things, and quick exchanges matter most because fees are not everything for some.

Also, you can agree with me that when using an exchange based on trust, no credential, no known location of the exchange, no license, you would want your swap to be fast lol

xxx
What the hell did I read in the quoted post?
Why don't people check the basics first before claiming anything?...

exactly my words above...

When you want to post in an open forum where we have experts, you at least make sure you are stating the fact, or instead ask it as a question if you are not sure.

Fast mode pays out directly from our own reserves per coin, which means reserve tuning is an ongoing, daily process right now rather than a one-off fix — that's why it keeps showing up as unavailable at different points.

Does this in anyway mean that when the reserve is low, fast mode is switched off?

[bitmover]

Let's make things clear, no KYC exchanges can be used by anyone and offer swapping of one coin to other without any need of KYC details or creation of accounts.
~
When it comes to traditional centralized exchanges like Binance or others, the users already have custodial wallets filled with some coins at those exchanges and that's why they can buy/sell coins at market rate instantly. All such transactions are completed off-chain so there's no delay in such transactions.
~

Nope, just no
- the execution of the exchange is a technical procedure
- KYC is a law,be it enforced or not

Those two overlap, but they are not mandatory for a distinct category
- Binance was a custodial exchange with a 2 BTC max no-KYC rule for years
- CM was a mixer, but unlike any others, it was an instant one since you got your keys the moment the deposit was cleared

Dex could go KYC tommorow (no, please no!) and Coinbase KYC free tommorow it won't change the technicalities!

Not long ago, in 2021, binance was a completely free kyc exchange for withdrawals up to 2 btc per Day.

You could just create a throw away email, send 2 btc (20k usd at the time) and withdrawal instantly without any kyc.

Good old times 

[sabotag3x]

It's time to take advantage of this Bitcoin pump and sell some on DexFo.. the dollar is falling against other currencies today..

Or do you guys think the rally is just getting started?

[joniboini]

Does this in anyway mean that when the reserve is low, fast mode is switched off?

Sounds like it. I guess even when daily maintenance is no longer necessary, fast mode will still get switched off if the reserve goes down faster than expected. Even the stuck UI bug is related to this (which means I can also use this to know whether there's an ongoing maintenance or not).

Btw, what's the plan for API? Can we instantly swap from a terminal for example, or does it focus on other integrations?

[SamReomo]

Not long ago, in 2021, binance was a completely free kyc exchange for withdrawals up to 2 btc per Day.

You could just create a throw away email, send 2 btc (20k usd at the time) and withdrawal instantly without any kyc.

Good old times 

Those days are gone and those were some really good days for crypto users especially for crypto traders/investors who could easily buy/sell Bitcoin without following the KYC procedure and those days there was no issues related to AML either, but now things are quite different in the market. In current times we're still lucky that we have exchanges like DEX.fo that help us to swap our Bitcoin to other coins without the KYC procedure. These days almost majority if not all traditional CEXs like Binance want KYC details of users because allowing them to withdraw Bitcoin or other crypto currencies so in current days no KYC exchanges are saviors of privacy enthusiasts who don't want to reveal their details to exchanges but still need to swap their one coin to another coin.

[DEX.fo_off]

Does this in anyway mean that when the reserve is low, fast mode is switched off?

Correct — that's exactly the mechanism. Low reserve on a specific coin means Fast can't safely cover an instant payout for that pair, so it drops back to Chain until reserves are topped up.

Sounds like it. I guess even when daily maintenance is no longer necessary, fast mode will still get switched off if the reserve goes down faster than expected. Even the stuck UI bug is related to this (which means I can also use this to know whether there's an ongoing maintenance or not).

Btw, what's the plan for API? Can we instantly swap from a terminal for example, or does it focus on other integrations?

Fair read on the UI bug — not the intended way to check status, but not a bad workaround until the proper status indicator is live.

On API — it's actively being developed and will be available. Too early to lock down exact scope (terminal-style calls vs. broader integrations), but it's coming.

[MarryWithBTC]

It's time to take advantage of this Bitcoin pump and sell some on DexFo.. the dollar is falling against other currencies today..

Or do you guys think the rally is just getting started?

What's happening in the market? What triggered this pump? Like I was thinking that btc is still struggling around $63 to $64k until this morning I want to make a payment, I kept refreshing by wallet.

What happened? is it related to the media hype man - Saylor or something about the clarity bill?

Does this in anyway mean that when the reserve is low, fast mode is switched off?

Correct — that's exactly the mechanism. Low reserve on a specific coin means Fast can't safely cover an instant payout for that pair, so it drops back to Chain until reserves are topped up.

Noted! This means very soon every thing will be stablized.

[Hamza2424]

What's happening in the market? What triggered this pump? Like I was thinking that btc is still struggling around $63 to $64k until this morning I want to make a payment, I kept refreshing by wallet.

What happened? is it related to the media hype man - Saylor or something about the clarity bill?

That's a myth, haha. To be honest, I also have read many reasons for it, which are mentioned mostly in the media. So you can say, this, when they mentioned the $3.3 billion in crypto was liquidated might be the reason, what happens is people were shorting and the overall volume was about $3 billion, but all of it was liquidated, and it started a short squeeze, which means when people are shorting at this level and they all get liquidated, that automatically buys assets at the market price to cover their losses, which accelerated the price spike.

I think this explains more about this behavior of the market because the money we are talking about is in billions, so yep, that might be the reason.

[SamReomo]

So you can say, this, when they mentioned the $3.3 billion in crypto was liquidated might be the reason, what happens is people were shorting and the overall volume was about $3 billion, but all of it was liquidated, and it started a short squeeze, which means when people are shorting at this level and they all get liquidated, that automatically buys assets at the market price to cover their losses, which accelerated the price spike.

That's not a valid reason why the market is pumping in such strange way. Bitcoin is already over $76k and such a thing can't happen only because of liquidations, something is happening behind the scenes. I think we're literally into another phase of bull run, and it's most probably the first phase of it.

So those who've accumulated Bitcoin at $60k are currently in huge profit, the ones who short Bitcoin with leverage are the ones whose positions get liquidated. The smart ones even make money in such times by shorting Bitcoin without any leverage, but again it depends on a trader's strategy and the capital of the the trader.

Whatever be the reason we are seeing Bitcoin going up and that matters a lot to most of us especially to the traders. When Bitcoin moves upward in such way, the market becomes volatile and the top traders make most money from such volatility in short time. But, again it depends on strategy of the traders and how they handle such volatility.

[examplens]

So those who've accumulated Bitcoin at $60k are currently in huge profit, the ones who short Bitcoin with leverage are the ones whose positions get liquidated. The smart ones even make money in such times by shorting Bitcoin without any leverage, but again it depends on a trader's strategy and the capital of the the trader.

And this is a myth. That someone accumulates large amounts of Bitcoin when it is low, so that after a few days they have a huge profit.
I'm not saying that it doesn't happen that someone enters BTC for a "time" and buys cheap, but these are mostly just lucky coincidences. Big players don't make decisions overnight, they are planned for a long time. So, for example, he bought ETFs almost without worrying about the price, even though there were better times to enter BTC, especially in large quantities.