*note: "How can??" is a Malaysian expression of disbelieve.
Yes, you read that right.... it was VERY SHOCKING
the Hive Engine (an internal exchange for HIVE "tokens" on the HIVE blockchain) has been one of my most going site to visit due to the fact I actually use them to play my Splinterlands game and dCity.io (sort of a passive NFT game); moreover I also conduct a "custodial joint stake" and disperse curating rewards dividend back as HIVE Power into the HIVE blockchain at least once a week for those who would like to support creative writers on that social platform environment.
And, I ran out of HIVE to disperse rewards right on the spot.
Only to realise that the HIVE traders there disregarded BCH SO MUCH when I thought by testing withdrawing about 90 odd cents worth (after deducting the fee) from here to the HIVE Engine just to disperse the payments to the delegators who supported my cause for talented writers there in HIVE POWER, I got this...
Freaking 0.17 cents worth for SWAP.BCH (the HIVE version of Wrapped tokens)
Maybe the HIVE-ians there dislike BCH.
Or just pretty much trying to rip off urgent sellers who didn't know how to calculate how much HIVE is needed of a 90 odd cents USD worth.
Good grief!
It was really really sad to see its market cap there, which has its very own little trading ecosystem which didn't regard BCH is any better than the SWAP.HIVE (wrapped HIVE in the HIVE engine)
There were some, I believe, out of desperate measures got really ripped off in the process of exchange. No one is selling BCH there, and it costs 1% transfer fee in and out as well. Which I thought it was still reasonable.
I might as well stick to mainstream exchanges even though I am going to lose another 1% while transferring out; but that is definitely way much more valuable than to use this engine for inbound crypto.
Have you got ripped off in exchanges before when you weren't sure how to conduct an exchange?
Would love to hear (read) your experiences here. 😊
This topic is out of my league. Lol. But seriously, that $0.90 turned $0.17 is really upsetting. Well, at least you are aware of it now.