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

[LoyceV]

The lack of liquidity that exch has is due to them not being able to supply enough coins. They already have the buyers that are willing to pay 5%+ in fees and who eat up all the available supply in less than 24h, so what they need more is monero sellers to sell on exch (instead of some other places).

This (still) makes me believe Monero is highly undervalued.

How do you incentivise people to sell on your exchange? By offering better prices.

That's not really possible on an instant exchange. On "regular' exchanges, the market decides the price. On eXch, it's based on other regular exchanges. It wouldn't dare predict what would happen if eXch were to offer a higher price for Monero than other exchanges. It may lead to all liquidity on those exchanges being eaten by arbitrage traders, more Monero flowing into eXch, and the price spiraling upwards. Either way, I don't think it solves the liquidity problem. But that's just my own speculation of course.

The volume of XMR over the last 24 hours for eXch is 6776.91 .

I have the impression that eXch no longer really suffers from liquidity problems with XMR.

At the moment, XMR-reserves are less than 1% of the 24h volume. That confirms what has been posted before: any Monero that gets added quickly gets sold.

Monero on a CEX is not the same as Monero in your own wallet

[_act_]

Answer please to ANN thread - I have problems with exchange at exch.cx

You suppose to have explained what happened on a single post than having it in short form. I saw you complaint on the topic that you posted before this post.

I sent 50 LTC to swap it in BTC at exch.cx the coins are confirmed already few hours ago. At the exch.cx site are the status still „waiting input“ I wrote already emails but didn’t got any answer..I tried also contact them at simplex…

Has the issue been solved?

If it has not been solved. You will see support at the right down corner of the site. If you do not see it, scroll down the site and check the right down corner of the site. Contact exch support and let us know once it is solved.

[Baadcaptain111]

They have only email and simplex contact I tryed already both…

[Pmalek]

They have only email and simplex contact I tryed already both…

How long has it been since you contacted their support? I would say give them up to 48 hours to respond. Don't forget that July/August is holiday season. People are on vacation and therefore you can expect delays with whatever you do. It's normal. I understand how you might feel, but eXch has thus far had a spotless reputation.

[_act_]

They have only email and simplex contact I tryed already both…

You will have letter of guarantee on the website after you sent the money to the address they provided you. To make it faster, include the letter of guarantee in the email. If you do not include it, they will still ask of it.

How long has it been since you contacted their support? I would say give them up to 48 hours to respond. Don't forget that July/August is holiday season. People are on vacation and therefore you can expect delays with whatever you do. It's normal. I understand how you might feel, but eXch has thus far had a spotless reputation.

I think he has just sent them email and the other way to contact them. I hope they can solve the problem as fast as possible.

[NotATether]

They have only email and simplex contact I tryed already both…

Depending on when the customer support is manned, you might have to wait a (very) long time for a support agent to answer you after the first reply they make.

I can't believe I have to write this, but in case anybody asks, no, this is not fearmongering!

[Baadcaptain111]

I saved the letter of guarantee. I can see the wallet received my funds and are confirmed, the status at my website is still „awaiting input „

[Baadcaptain111]

Just saw now … excx.ch scam site 🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️

[bitmover]

That's not really possible on an instant exchange. On "regular' exchanges, the market decides the price. On eXch, it's based on other regular exchanges. It wouldn't dare predict what would happen if eXch were to offer a higher price for Monero than other exchanges. It may lead to all liquidity on those exchanges being eaten by arbitrage traders, more Monero flowing into eXch, and the price spiraling upwards. Either way, I don't think it solves the liquidity problem. But that's just my own speculation of course.

Yeah, but for how long could that be maintained? Who will pay for the higher XMR price?

This is basically an order book, someone has to buy (in this case, exch itself if it doesnt use any third party exchange).

If they raise XMR price for 5%, theoretically they could use all of their other coins reserves to sustain that price for some time... but in the end of the day, when the reserves of other coins are drained, they would not be able to buy the same amount of those coins back

[Kramerc]

The lack of liquidity that exch has is due to them not being able to supply enough coins. They already have the buyers that are willing to pay 5%+ in fees and who eat up all the available supply in less than 24h, so what they need more is monero sellers to sell on exch (instead of some other places).

This (still) makes me believe Monero is highly undervalued.

How do you incentivise people to sell on your exchange? By offering better prices.

That's not really possible on an instant exchange. On "regular' exchanges, the market decides the price. On eXch, it's based on other regular exchanges. It wouldn't dare predict what would happen if eXch were to offer a higher price for Monero than other exchanges. It may lead to all liquidity on those exchanges being eaten by arbitrage traders, more Monero flowing into eXch, and the price spiraling upwards. Either way, I don't think it solves the liquidity problem. But that's just my own speculation of course.

The volume of XMR over the last 24 hours for eXch is 6776.91 .

I have the impression that eXch no longer really suffers from liquidity problems with XMR.

At the moment, XMR-reserves are less than 1% of the 24h volume. That confirms what has been posted before: any Monero that gets added quickly gets sold.

Monero on a CEX is not the same as Monero in your own wallet

Nice to start the thought process. The "market" doesn't decide anything, it's simply market participants (usually market makers) with an incentive that decide the price of any asset indefinitely until some other big players decide to join in.

If liquidity moves over from CEXs to exch, then how is exch still having liquidity problems (to supply new coins)? What happens is that instead of leechers sucking the 5% profit from exch (because of supply problems), this gets into exch's pockets, while other market participants will profit off the sell on exch/buy on cex arbitrage.

Sounds like a win win.

[LoyceV]

Just saw now … excx.FAKE.ch scam site 🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️

That's a sneaky one! Try to report it to their registrar:

Code:

    Domain name
    excx.ch

    Registrar
    NETIM
    av arthur notebart 264
    FR-59160 Lille
    Phone +33 972307470
    sales@netim.com

    DNSSEC
    no

    Name servers
    adi.ns.cloudflare.com
    dilbert.ns.cloudflare.com

    First registration date
    24 March 2024

Maybe they'll take it down if you report it for scamming/phishing.

[joker_josue]

Just saw now … excx.FAKE.ch scam site 🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️🤦🏽‍♂️

That's a sneaky one! Try to report it to their registrar:

I keep asking myself why they don't start using a more traditional domain in order to avoid these types of errors on the user's side.

For example, this one is still free: exch.services

[paid2]

I keep asking myself why they don't start using a more traditional domain in order to avoid these types of errors on the user's side.

For example, this one is still free: exch.services

Apparently it will be "exch.net" (at least if their plans did not change since).

They wrote about their domain name change some months ago:

Last week you made changes to your OP and pointed all links to the .pw domain. Will it remain like that from now on?

We will soon be migrating to the `exch.net` domain we bought for 10k$ so I don't feel any urge updating the OP right now and think it's better to update it when we perform definitive changes.

We bought the .net one because .net, .com and .org zones are those of very few left that are not managed by any centralized authority, unlike most ccTLDs today that were bought by corporations like CentralNic who can do whatever they want with the domains independently of the company that sells them.

[_act_]

Just saw now … excx.FAKE.ch scam site ‍♂️‍♂️‍♂️‍♂️‍♂️

That's a sneaky one! Try to report it to their registrar:

Code:

    Domain name
    excx.ch

    Registrar
    NETIM
    av arthur notebart 264
    FR-59160 Lille
    Phone +33 972307470
    sales@netim.com

    DNSSEC
    no

    Name servers
    adi.ns.cloudflare.com
    dilbert.ns.cloudflare.com

    First registration date
    24 March 2024

Maybe they'll take it down if you report it for scamming/phishing.

Scammers are targeting the users and new users of this site. I hope exch.cx should try to find similar sites that clone their website and report them also. Cloning a site like this is definitely a scam. This is so sad. 50 LTC is not a small amount of money. We do not know the people this scam site would have also scammed in the past. These similar name of a thing is not common on some other exchanges. I think those exchanges are monitoring other similar sites. Also maybe create similar sites in a way it will redirect users to their real site.

[paid2]

I've reported them off, in the hope that it'll be effective... In general it's quite quick for this type of case, let's hope for a quick action

[joker_josue]

I keep asking myself why they don't start using a more traditional domain in order to avoid these types of errors on the user's side.

For example, this one is still free: exch.services

Apparently it will be "exch.net" (at least if their plans did not change since).

They wrote about their domain name change some months ago:

Last week you made changes to your OP and pointed all links to the .pw domain. Will it remain like that from now on?

We will soon be migrating to the `exch.net` domain we bought for 10k$ so I don't feel any urge updating the OP right now and think it's better to update it when we perform definitive changes.

We bought the .net one because .net, .com and .org zones are those of very few left that are not managed by any centralized authority, unlike most ccTLDs today that were bought by corporations like CentralNic who can do whatever they want with the domains independently of the company that sells them.

I no longer remembered that.

Now, I don't understand the delay. Are they preparing some kind of update, and releasing everything at the same time?

[logfiles]

I keep asking myself why they don't start using a more traditional domain in order to avoid these types of errors on the user's side.

For example, this one is still free: exch.services

It still won't stop users from falling for those phishing sites as long as scammers keep creating them. A good example is that list of crypto mixer phishing and scam sites. Very many vicitms got caught up even with the phishing sites of more traditional domains.

The Good news is that Cloudfare now displays a warning about the site

[LoyceV]

I keep asking myself why they don't start using a more traditional domain in order to avoid these types of errors on the user's side.

For example, this one is still free: exch.services

Even sites with a very traditional .com domain have loads of phishing duplicates. And changing URL now makes it only worse.

[joker_josue]

I keep asking myself why they don't start using a more traditional domain in order to avoid these types of errors on the user's side.

For example, this one is still free: exch.services

Even sites with a very traditional .com domain have loads of phishing duplicates. And changing URL now makes it only worse.

Yes, that is also true. But usually the problem before is in the .com. Which reduces the possibility of making mistakes, or at least is more perceptible to the user.

It's one thing for me to be unsure whether it's exch.cw or .pw. Another thing is to be unsure whether it is exch.net or excha.net.

[NotATether]

It's one thing for me to be unsure whether it's exch.cw or .pw. Another thing is to be unsure whether it is exch.net or excha.net.

I don't think .cw is a valid TLD.