Beware of exchanges

I’m using Bittrex and now for a whole week they got my coins in limbo with this “Wallet Maintenance” message, which means that I can’t move my coins. I do understand the status, but the funny part is that my coins were on a sell order and Wallet Maintenance at the same time and still magically those coins were sold.

Another thing I notice, I made one sell order of a small amount and somehow they had to break that up into at least 4 sell orders before it was completely processed and it all happened within a timespan of 2 minutes. I’m just making an uneducated guess here, but they probably charged me for all 4.

Too bad that I didn’t see this movie yet, it would have enabled me to make an educated guess :stuck_out_tongue:

I woke this morning to the message being removed. So a week of wallet maintenance. I sold a lot of my omni tokens and moved the BTC out and rebought them elsewhere “just in case”.

Normal for any exchange. This is because the oldest order at that price was smaller than what you wanted. So it then picked the next oldest and so on till your order is filled. Or similarly needed to use a few orders at different prices to fill your order. And they charge 0.25% of the amount in each of those (4 for you) orders. Its the same whether its filled with one order in the books or 10 orders in the book. There is of course potential for 1 sat fee extra per order because of rounding, but my experience is one sat less since they chop instead of round.

For example if I sell 1000 coins and the order book for that price has the oldest order 100 coins and the next as 250 and the next as 150 and the next as 5000, then the 1000 sell order I put in is filled as

  • 100 coins (fee is 0.25% of that)
  • 250 coins (fee 0.25% of that)
  • 150 coins (fee (0.25% of that)
  • 500 coins out of the 5000 order on the books (fee is 0.25% of the 500)
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