Quote from: Thomasio on Today at 12:01:24 PM

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Quote from: Thomasio on June 09, 2020, 01:29:44 PM

Quote from: itsaworry on June 09, 2020, 11:51:38 AM

No , never calculated that , have you ? . . . . i did wonder if it was best to convert to tokens , and then from tokens to another coin , rather than coin to coin direct .

Every single conversion carries a 2.5% fee (they say it doesn't, but it does, if you don't believe it, convert btc to ltc then back to btc and see how many btc you lost).
Therefore converting from anything to tokens and from there to something else costs double the fee.

what you are referring to here is the exchange rate bid-ask spread - it is normal in almost any currency/crypto exchange

of course if you convert from one coin to another and then back again you will not get the same amount! so it would be silly to do this Wink

but its not a fee - that would usually be a fixed or % amount for each transaction - coinpot has 0 fees

You TRULY believe using a different word for the same thing, spread instead of fee, makes a difference on the fact that you lose roughly 2.5% value in every single conversion you do?

He didn't say that it did make a difference. He just pointed out that fees and spreads are two different things. Exchanges that charge fees also have a spread, albeit a smaller one, both fees and spreads are part of the cost of exchanging.

Ok , but spreads can vary a lot , fees stay the same . . . so if the cost of conversion stays at 2.5% is that a variable spread . What happened back in Febuary , when BCH increased in value against BTC , did the spread shrink ? . . lol . . . did anybody notice ?

Yes I noticed and no it didn't shrink, because Coinpot does NOT take the latest buying price and the latest selling price as a "spread" from some exchange, they take the latest price from some exchange and deduce a fee.

Ok , cool . lol . .just so i know where i stand .
This is a much better thread than the Reddit one , which is still frozen , i think i'll stay here . .