I just checked the math on a transaction a friend sent me from Steem $ → BTC and it’s insane.
Yet people keep promoting Blocktrades.us on Steemit.
Guys, flag the fuck out of the blocktrade.us promotional blog spam and always calculate your transaction fees!
Blocktrades is preying on people's naivity here.
If this were happening at a stock brokerage you'd see an uproar from clients calling it a scam.
I was trying to figure it out earlier today. I was swapping from ltc from cryptopia to steem through blocktrades.us it seemed like a high rate, but with so many calculations I haven't figured out what the actual fees were.
Yeah, maybe I should make a thread about how to calculate this stuff.
I'm following you, so if you create a tread about that subject I'll read it. I was figuring out yesterday I was leaving about $0.12 on the table for each trade I was doing by converting one shitcoin to doge versus ltc. I'm going to have to set up a spreadsheet to track the prices better.
be careful when useing exchanges , Always try to use the biggest exchanges , as long as they have the currency you want . ( Doesn t count for polo )
We really need some sort of ranking system for exchanges with updated fees so we can keep them competitive.
I have noticed the high fees for blocktrades and I have only used them once or twice when I wanted to handle something quickly.