All,
Can we add a exchange rate to the SAFEX website. I purchased 160000 and the rated worked out to be .0000029626 while the BITTREX rate was at .00000220. By purchasing through SAFEX I shorted myself around 40000 coins. Just warning everyone to double check. I know i should have done the math first my mistake. I wanted to try the website and the message indicated the coin amount would vary depending on the exchange rate.
Thanks SAFEX for all the work. I do love the platform and will keep investing using an exchange with the best rate.
We will certainly add the exchange rate, however I don’t think that it is always a determinant in whether to use safex.io site or an exchange.
Other exchanger services have a varying exchange rate as well and it is at times significantly high.
During these times when we very busy the rate is at a larger premium than when we have more free time to deal with orders, yet there is also a major convenience factor which people are using which you can not have at an exchange. Others want to put their support by paying the premium to some exchanges. (for instance safex at certain amounts and times will be cheaper than cryptopia)
Not everyone makes the same decisions for the same reasons
Dear Daniel,
I am new to SAFEX abd find the project interesting, so today I decided to purchase 40.000 Safex on the safex.io website. The price was 0.369 BTC, translating to $ 0.178 or 0,000009225 BTC / SAFEX. After checking the last reported prices on the last traded exchanges I realized i paid a premium of up to 10x as much compared to Bitrex or 3x to Cryptopia. Why is buying on the website so expensive? I would like to keep supporting SAFEX but I must say that I am quite amazed by this huge price difference, resulting in having missed / shorted myself, depending on which of the above mentioned exchange rates between 80.000 to 360.000 SAFEX. I understand that it’s the buyers responsibility to check but, maybe a disclaimer or something of this kind would help in the future…
Same thing happened to me. I paid .277 btc (over $5000) and got 30000 ($700) worth of safex coin. I just assumed I was buy at market value. This has never happened to me before and honestly I’m shocked. I’m happy to buy my coins at sensible market rate but this is silly.
Hi Matty,
I also tried to contact SAFEX directly via their website, after I pressed send there was an error messag at the contact form, seems to be broken, so I am not sure if their will be any feedback from SAFEX in regards to this matter via this channel. It appears that the rate is more than 3x off the market and I agree that the rates that we have received are indeed shocking. I wonder if SAFEX is supporting this extreme pricing or if it is based on an automation / quote on ther website. I haven’t received the coins yet and will wait some more but honestly, at the moment I would be happy to step back from the purchase if it were possible, as the rate was far off. I would love to continue support the project, to do so I think it were fair to receive the SAFEX coins closer to the market rate, to close the gap / loss on the BTC that we have transferred. Well, I hope SAFEX gets back to us .
If you don’t want to use telegram then of you are apart of the discord you can use the #trading channel within their to go about exchanging as a temporary solution.
Hey Daniel. This is sad. Don’t really know how to think about this one other than I made a massive mistake and I’ve lost a lot of money. They didn’t have the exchange rate when buying i.e. “you will receive $700 worth of safex coins” which I don’t think is great.
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