eXch - instant exchange BTC / LN / XMR / LTC / ETH / ERC20

[bitmover]

Hello.
Is btc exchange working right now even with high fees? Is there any limitation to the service?
I will try to use when fees are lower than 50sat/vbyte
Thank you.

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[examplens]

Hello.
Is btc exchange working right now even with high fees? Is there any limitation to the service?
I will try to use when fees are lower than 50sat/vbyte
Thank you.

When converting to BTC, in the case where exch sends Bitcoin, you have the option of choosing the speed of the transaction.
Of course, the fee you will pay also depends on that.

Here is at current moment

[paid2]

Bump  


Nothing very useful but I laughed when I saw the following list:


Cannot believe changenow.io and eXch are on the same boat in his mind. "these will die off or remove priv coins" lol

For now 24h XMR volume seems to be fine on eXch: 12k XMR

[apogio]

For now 24h XMR volume seems to be fine on eXch: 12k XMR

I take responsibility for some of them 

[dkbit98]

...

Hi eXch.cx
I hope you are you alive and well.
What kind of support are you using this days and is posted SimpleX chat connection link working or nor for direct communication (https://exch.cx/support) ??
I am getting some network errors in eXch mobile app.

[silopause]

Rate increased from 0.5% to 5% ?!?!

[paid2]

Rate increased from 0.5% to 5% ?!?!

What ?

Nothing changed from my side:

[d5000]

I saw the increase to 5%/5.5% too. It seems to be however only for the Bitcoin -> Monero trading pair. XMR -> BTC and also other pairs like BTC -> LTC are not affected.

I noticed that XMR reserves are usually quite low as this seems to be the most attractive trading pair (for quite obvious reasons). This might be the reason for the fee increase, maybe to get funds to purchase new XMR reserves?

[dkbit98]

Rate increased from 0.5% to 5% ?!?!

It's the same for me right now  
Flat rate is 5.5%, Dynamic rate is 5% and I tried entering different amounts of BTC with same result.
In opposite direction when exchanging XMR to BTC fees are much lower, 1% and 0.5%




Small workaround is to use other altcoins first and than swap them to monero, but ethereum to xmr also has 5.5% and 5% fee.
I think there is a big shortage of monero for a while, but you can search for alternative exchanges on Orangefren and Trocador.

[apogio]

It's the same for me right now  
Flat rate is 5.5%, Dynamic rate is 5% and I tried entering different amounts of BTC with same result.

I think there is a big shortage of monero for a while, but you can search for alternative exchanges on Orangefren and Trocador.

I confirm I get the same rates. It must be a shortage, or at least this is my only reasonable explanation. Don't forget that most CEXs don't trade XMR, so XMR flows in the market are limited in general.

[LoyceV]

I think there is a big shortage of monero for a while

Could this be because of the way the price is determined?

Current rate is a median value based on the latest trading data of the following markets: Binance, OKEX, Kraken

Coinmarketcap shows the 24h trading volume for Bitcoin/Monero on those echanges is about $4M. The eXch volume on this pair is almost half of that. Normally, on an exchange, if demand for a coin goes up, the price shifts to match supply and demand. Since eXch doesn't influence the price pair, that doesn't happen.

[dkbit98]

Could this be because of the way the price is determined?

I don't know, but I heard several reports from people who use big centralized exchanges like MEXC that some of them are unable to withdraw monero and they have some network error message,
probably because exchanges don't have those coins, so all this exchange rates are just imaginary numbers on the screen.
More correct rates can also be found on bisq.markets, but I would like to see devs/owners return to the forum and explain it better.

[BlackHatCoiner]

Could this be because of the way the price is determined?

Another theory is that a large holder switched to Monero, or simply makes usage of this internal function as a mixer. eXch is really attractive for an anonymous entity. No KYC and supports Tor. It reduces some risks of de-anonymization by just sending and receiving bitcoin via Tor Browser, than to use a less reviewed, more complicated software like Bisq. (And it might be cheaper as well)

[dkbit98]

Another theory is that a large holder switched to Monero, or simply makes usage of this internal function as a mixer. eXch is really attractive for an anonymous entity. No KYC and supports Tor. It reduces some risks of de-anonymization by just sending and receiving bitcoin via Tor Browser, than to use a less reviewed, more complicated software like Bisq. (And it might be cheaper as well)

Something is definitely happening with monero that is affecting all exchanges, and fee for monero remans around 5% on eXch.
Last I saw is the official ann from Coinex centralized exchange that is now asking for ID verification for depositing and withdrawing privacy coins Xmr, Beam, XHV, Oxen, Dero, Arrr, Zeph and Zano.
You can still use this exchange without verification for all other coins except for monero and other privacy coins  

Code:

Dear CoinEx users,

Based on CoinEx's AML policy, from now on, ID Verification must be completed before depositing or withdrawing Privacy Coins. The specific arrangements are as follows:


Privacy Coins

BEAM, XHV, OXEN, DERO, ARRR, XMR, ZEPH, ZANO


Attention

1. In order to use the deposit and withdrawal services normally, users holding the above Privacy Coins are requested to complete ID Verification as soon as possible.

2. The deposit request of Privacy Coins will not be credited instantly without ID verification. Once verified, the deposit will be automatically credited.

 
Risk Reminder

Crypto products are innovative investment products with large price fluctuations as well as high investment risks. Therefore, please evaluate and invest wisely based on your risk tolerance and financial resources.

 
CoinEx reserves the right of final interpretation of this announcement.

CoinEx Team

Jan 22, 2024

https://announcement.coinex.com/hc/en-us/articles/22884451766804-CoinEx-Has-Required-Mandatory-ID-Verification-for-Deposits-and-Withdrawals-of-Privacy-Coins

[examplens]

Another theory is that a large holder switched to Monero, or simply makes usage of this internal function as a mixer. eXch is really attractive for an anonymous entity. No KYC and supports Tor. It reduces some risks of de-anonymization by just sending and receiving bitcoin via Tor Browser, than to use a less reviewed, more complicated software like Bisq. (And it might be cheaper as well)

Something is definitely happening with monero that is affecting all exchanges, and fee for monero remans around 5% on eXch.

Or maybe it's because of the new EU AML regulations and the announcement of the ban and restrictions on privacy coins and self-custody wallet payments. Although, strangely, this kind of reaction came already based on the announcement.

January 16, 2024: https://www.dlnews.com/articles/regulation/why-the-eu-is-about-to-outlaw-and-curb-key-crypto-features/#:~:text=The%20EU%20is%20taking%20aim,their%20due%20diligence%20on%20users.

[n0nce]

No KYC and supports Tor. It reduces some risks of de-anonymization by just sending and receiving bitcoin via Tor Browser, than to use a less reviewed, more complicated software like Bisq. (And it might be cheaper as well)

I'd like to make a small comment / correction; Bisq has been around since December 2014, with over 200 contributors and also connects through Tor by default.
However, I confess that it feels a bit more complicated than an instant exchange running in the browser.

[apogio]

I'd like to make a small comment / correction; Bisq has been around since December 2014, with over 200 contributors and also connects through Tor by default.
However, I confess that it feels a bit more complicated than an instant exchange running in the browser.

The only trouble I have with Bisq is that the connection is unstable between Bisq and my Bitcoin Core node. It connects and disconnects every 5 seconds. Imagine like a blinking light that turns on and off constantly. I have bloom filters enabled etc.

I haven't figured out why, but this is not a subject to discuss here. Perhaps I will open a support topic in the future.

[LoyceV]

Bisq has been around since December 2014, with over 200 contributors and also connects through Tor by default.
However, I confess that it feels a bit more complicated than an instant exchange running in the browser.

The main problem I have with decentralized software like Bisq, is that it's software. I prefer to install as few programs as necessary, and don't want to go through the hassle of using a VM all the time.

[BlackHatCoiner]

Last I saw is the official ann from Coinex centralized exchange that is now asking for ID verification for depositing and withdrawing privacy coins Xmr, Beam, XHV, Oxen, Dero, Arrr, Zeph and Zano.

Makes a lot of sense. You can't have blockchain analysis embedded in every KYC exchange on Bitcoin, deeming coinjoined coins as "tainted", and just ignore privacy altcoins at the same time.

I'd like to make a small comment / correction; Bisq has been around since December 2014, with over 200 contributors and also connects through Tor by default.
However, I confess that it feels a bit more complicated than an instant exchange running in the browser.

I trust Bisq, and that's why it is the only DEX I'm using. However, if I had to choose which one I trust more, Tor Browser or Bisq, then it'd be the former. Not only it is less complex, it is just far more reviewed and consider it less probable to de-anonymize me. (Tor Browser comes with the extensive Firefox development)

The only trouble I have with Bisq is that the connection is unstable between Bisq and my Bitcoin Core node. It connects and disconnects every 5 seconds. Imagine like a blinking light that turns on and off constantly. I have bloom filters enabled etc.

Me too. I have switched to public nodes since then. Probably has to do with the minimum memory of the Raspberry Pi?


BTW, @exch.cc, have you tried contacting theymos about the old domain (user)name? I'm pretty confident he'll allow changing it to "exch.cx".

[apogio]

Me too. I have switched to public nodes since then. Probably has to do with the minimum memory of the Raspberry Pi?

I am not sure because I use 8GB RPi and I reckon 8GB is a good number. Perhaps I am wrong though. So you have switched back to public nodes and connect to them via TOR. I think it's not a bad option. Just something doesn't feel right, you know what I mean. I just wanna make it work . But apparently I can't.