NEVER use blocktrades, they are COMPLETE RIPOFF! 🤔

in #steemit6 years ago (edited)

Here's a couple links to other articles on this topic:

https://steemit.com/blocktrades/@bytzz/sorry-blocktrades-you-are-fast-and-easy-but-at-what-price

https://steemit.com/blocktrades/@edicted/blocktrades-is-a-huge-ripoff-origin-story-part-2

I've calculated some transactions of theirs and it seems to range from 4%-7% per trade lmao!! Not $4-$7 dollars but 4-7%.

And the worst part is steemit.com links to their exchange. Do they even disclose their trading fees? Is that even legal? Lot of questions and no answers.

You've been warned fellow steemians, you've been warned... 🤔

Steem on, steemians.

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If you catch the right moment, price difference on other exchange and BlockTrades can cover even those 7% fees... doesn't happen often enough.
They offer good volume, sometimes if you want to sell huge chunk of STEEM or BitShares and you don't have a verified account on Bittrex, Poloniex, you don't really have other options... STEEM is always disabled on Shapeshift...
Volume on decentralized exchanges is picking up slowly, so future looks good.

the fees is quite high no doubt about that but they offer speed hahah

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