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Shapeshift is very convenient but the fees are exorbitant compared to other platforms.
by komaromy 9y ago
Shapeshift is very convenient but the fees are exorbitant compared to other platforms.
- xur17 9y agoAnd Evercoin's fees are even higher.
- gst 9y agoI just tried placing an order and Evercoin's fees appear to be significantly lower. Shapeshift: 1 BTC -> 14.20477011 ETH Evercoin: 1 BTC -> 14.25967407 ETH Changelly: 1 BTC -> 14.35434362 ETH While Changelly appears to have the best rate they don't guarantee the rate. In my experience the actual rate is often much worse than the estimated rate (and unfortunately it's too late to cancel once you see the rate).
- xur17 9y agoI was originally testing BCC to BTC, so it looks like it depends upon what you are exchanging: Shapeshift: 1 BCC -> 0.06773499 BTC Evercoin: 1 BCC -> 0.06682701 BTC
- clemens2000 9y agoMaybe someone should build a Kayak for Bitcoin exchanges, that picks the cheapest exchange for each trade...
- xur17 9y agoThat thought definitely crossed my mind...
- ufotarikati 9y agoWriting the formula for you 1) pick the cheapest exchange 2) sell at expensive exchange price 3) add commission 4) add network fees
- tstyle 9y agoThe formula is more complicated than this. Services such as shapeshift.io guarantee the price for 10 minutes, as well as sending purchased tokens almost instantaneously. To accomplish this means keeping inventory and becoming vulnerable to volatility risk and liquidity risk. Picking a reasonable bid-ask spread is hard, and probably involves more input factors than the 4 you listed above.
- xseven 9y agoThey're all going away after cross-chain atomic swaps become THE thing.
- gst 9y agoYes. XCAT is definitely the way forward for transactions that involve only XCAT-compatible chains. Especially as it can be implemented either in a pure P2P fashion or with trustless exchanges, resulting in zero or very low fees.