Smart Cash exchange rate!

#1

Hello there, my first experience with Smart Cash / Rewards was frustrating. I’ve got 1000 Smart Cash but to participate in the rewards program I’d need to transfer to the rewards wallet.

So i’d need to buy more Smart Cash coins to pay the transfer fee. On the Smart Cash website I exchanged the minimum amount of BitCoin (0.00121) which is around U$ 7,50 for 99.5 Smart coins.

Ok when I’ve got the transaction into my account/wallet a few seconds later, the total value of 99.5 coins was around U$ 4,50. WTH???

#2

Hey, which 3rd party service did you use to exchange?

Changelly is the easiest and it should provide you the information and pricing/fees upfront.

#3

Hey Mark, it was inside smart cash website, with Changelly, indeed:

https://smartcash.cc/get-smartcash/

#4

It sounds like there is a flat starting fee, which proportionally is high if you are only purchasing 99.5 SMART.

To get the minimum required amount for SmartReward eligibility, just keep increasing the USD or BTC amount until SMART is over 1,000.

Right now, that is $58.00 for 1,094.5 SMART. You can then check what the price per SMART is, after their fees, by doing this: 58/1094.5… which is ~$.053.

You can also check converting from BTC, and that is .008 BTC for 1094.5 SMART.

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It’s easy, but you could likely get a better rate from another exchange.

#5

Thanks Mark! But my point here is that I bought 99,5 smart cash for u$ 7,50 and received 99,5 smart cash with a value of $ 4,50. It’s not about the 3 bucks but if I would bought 10k smart cash? Thanks for your help!

#6

The difference is the rate to buy from changelly and the rate to sell are different (just like foreign exchange, one is always higher).

That’s normal, and the difference in rates won’t be so high at higher amounts I expect. You can even test it before by seeing how much they would give you to sell SmartCash using their form.

#7

Sorry but I disagree, look I just bought the coin and put it in the wallet, I haven’t sold them yet. 33% of fee is way too much! I’ll be more careful next time :slight_smile:️