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Evercoin: A cryptocurrency exchange platform

evercoin.com

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Re: Evercoin: A cryptocurrency exchange platform

#31

Post by chatmasta »

uncletammy wrote: post #8

Oh, so it's like https://shapeshift.io/ except subject to the arbitrary and Orwellian US financial regulations! All jokes aside, I'm not knocking Evercoin. It looks beautiful and I welcome anyone and everyone who wants to bring liquidity to crypto markets. I'm just concerned about the sustainability of any platform based in the US. Maybe Evercoin knows something I don't though. I feel like the smartest thing we can d…

The gambling industry tried that ~10 years ago, but it's still very difficult to gamble online with a us bank account, so I'm not sure how well it worked.

Re: Evercoin: A cryptocurrency exchange platform

#32

Post by corford »

uncletammy wrote: post #8

Oh, so it's like https://shapeshift.io/ except subject to the arbitrary and Orwellian US financial regulations! All jokes aside, I'm not knocking Evercoin. It looks beautiful and I welcome anyone and everyone who wants to bring liquidity to crypto markets. I'm just concerned about the sustainability of any platform based in the US. Maybe Evercoin knows something I don't though. I feel like the smartest thing we can d…

Pick your poison I guess. Skimming Shapeshift's T&Cs, it seems their maximum liability to you is $50. So if you want to convert 1BTC to ETH (for example) and something goes wrong at Shapeshift's end and they don't transmit ETH back to you, the best you can hope for out of them is $50. They also put you on the hook for uncapped admin fees at their discretion.

Finally, there's no company info in their T&Cs (just a vague mention that they are incorporated in Zug, Switzerland).

So... all dandy when it works. Pretty scary if shit goes wrong and you were doing a largish trade at the time.

Edit: I have no affiliation with Evercoin or Shapeshift (learnt about both in this thread)

Re: Evercoin: A cryptocurrency exchange platform

#33

Post by corford »

csomar wrote: post #14
tyrust wrote: post #11

As others have noted, this is a clone of https://shapeshift.io/ . Clones are fine: it's possible that evercoin does something different/better than shapeshift. What is not fine is the apparent lack of transparency in fees [0]. evercoin says that they charge both exchange and miner fees but do not specify either; just because they include the fees in the final price does not mean they do not exist. Compare this to sha…

I'm pretty sure Shapeshit charges a fee (spread).

They do and explain as much in their FAQs.

Re: Evercoin: A cryptocurrency exchange platform

#35

Post by gst »

xur17 wrote: post #25
komaromy wrote: post #22

Earlier quoted context omitted.

Shapeshift is very convenient but the fees are exorbitant compared to other platforms.

And Evercoin's fees are even higher.

I 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).

Re: Evercoin: A cryptocurrency exchange platform

#36

Post by xur17 »

gst wrote: post #35
xur17 wrote: post #25

Earlier quoted context omitted.

And Evercoin's fees are even higher.

I 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).

I 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

Re: Evercoin: A cryptocurrency exchange platform

#40

Post by EthanHeilman »

ourmandave wrote: post #26
EthanHeilman wrote: post #23

Earlier quoted context omitted.

You just described 90% of online merchants. ...and you're right, plenty of online merchants rip people off. This is one reason that large trusted merchants dominate the space (overstock, amazon, newegg, etc..). If a shapeshift clone exit scam [0] hasn't happened yet it will happen soon. People should do careful research on these sites before using them, just like people should do research on online merchants. That be…

But aren't you protected by your credit card if the merchant fails to deliver?

Chargebacks provide some protection but in the final analysis it really depends on how scummy the merchant is. If they really want to cheat you they will find a way:

1. products that never arrive after long shipping delays (NYC camera shops are the masters of this technique),

2. keep delaying shipping the product, then as soon as they ask for a refund say you already shipped it and they will be billed for shipping cost (another classic NYC trick),

3. substituting inferior products (broken 2GB RAM module with a label that says 8GB, how easy is to make an NTFS drive look bigger than it is?),

4. playing games with receipts to make them harder to contest (wrong address, slightly different product),

5. threatening to sue or reveal personal information if you contest,

6. a refund process which involves onerous and never ending paperwork,

7. never send a receipt, cancel the order on the web form "sorry we are out stock" and then bill anyways, stealing money from everyone who doesn't read their credit card bill like a hawk.

etc...

Or they can just use your credit card to buy something for themselves for roughly the price of the product you thought you purchased.

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