Question 700 EUR to exchange USDT to BTC or ETH !! CHOCK!!

[EliasIT]

Clank said:
https://thorswap.finance/
Click to expand...

how secure is this and who is providing this service, why is it more secure than an exchange i.e. kraken and binance?

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
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[Clank]

EliasIT said:
how secure is this and who is providing this service, why is it more secure than an exchange i.e. kraken and binance?
Click to expand...

It's a decentralized exchange that operates between chains, meaning for example that you can exchange Bitcoin for ETH.

 

[EliasIT]

Clank said:
It's a decentralized exchange that operates between chains, meaning for example that you can exchange Bitcoin for ETH.
Click to expand...

Which means no one can ask you for KYC or even freeze the amount like they can do on the regulated exchanges?

Is there any risk that they can run with your money ?

Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[Clank]

EliasIT said:
Which means no one can ask you for KYC or even freeze the amount like they can do on the regulated exchanges?

Is there any risk that they can run with your money ?
Click to expand...

They can't freeze and they don't have KYC.

They can't run away with your money as it's a smart contract. Nevertheless you should always be careful if you stake in decentralized platforms as they might have vulnerabilities. Using it for swapping has nearly 0 risk.

Last edited: Oct 24, 2024

 

[SoNewToAllShit]

I can't get it connect with trezor device, any chance this exchange can work with exodus?

When I try to connect to trezor it asks for the device to be active, I did, then it ask for the pass phrase, is it secure to enter it there? I think it's better to use exodus for the swap if possible?

 

[Joukilop]

SoNewToAllShit said:
How do you go about 150K you want to trade with instantly. Would it be secure to send them to Kraken or Binance or is the risk they will freeze the amount and ask for additional KYC etc too high ?

If so, how to trade such amounts ?
Click to expand...

https://simpleswap.io/
https://veil.exchange/
https://stealthex.io/

Mix with theses 3.

Already did with large amont (always 5 digit max)

Never had any problem. And each have a policy : If they want KYC for any reason (never had) they will just refund you if you refuse the KYC.

 

[SoNewToAllShit]

Joukilop said:
https://simpleswap.io/
https://veil.exchange/
https://stealthex.io/

Mix with theses 3.

Already did with large amont (always 5 digit max)

Never had any problem. And each have a policy : If they want KYC for any reason (never had) they will just refund you if you refuse the KYC.
Click to expand...

Then the below is much better and more secure. Just need to figure the technical part out now.
https://app.thorswap.finance/liquidity

 

[Freetrade]

SoNewToAllShit said:
Then the below is much better and more secure. Just need to figure the technical part out now.
https://app.thorswap.finance/liquidity

SoNewToAllShit said:
Then the below is much better and more secure. Just need to figure the technical part out now.
https://app.thorswap.finance/liquidity
Click to expand...

Click to expand...

Go to the swap section: https://app.thorswap.finance/swap and connect your "browser wallet"
also try chainflip.io

 

[Freetrade]

jayM said:
I want to exchange 32200 EUR to BTC via SWAP in Trezor - ChangeHero want to charge me 700 EUR in exchange fees 😵

Same if I want to do in ETH 1inch charge 650 EUR !!

What to do, can it be done cheaper?
Click to expand...

Why would 1inch be charging 650 EUR for a simple USDT to ETH swap?????
It's free(or worst case $38) :

Last edited: Oct 25, 2024

 

[SoNewToAllShit]

Freetrade said:
Go to the swap section: https://app.thorswap.finance/swap and connect your "browser wallet"
also try chainflip.io
Click to expand...

Is it secure to do what it is asking for here:

It always said that you never should give out your passphrase ?

 

[SoNewToAllShit]

sorry but this is a stupid complicated system... I keep trying to connect my trezor... now it says successfully connected but I can only click on connect wallet! 😡

 

[lory]

I tried to replicate what you try to do there @SoNewToAllShit

You need to connect both crypto wallets to your Trezor. First, click on “Connect Wallet,” select, for example, ETH, and then choose your Trezor. This will connect the two ”“ it worked on the first try for me.

Once that's done, go back and connect the second crypto (the one you want to swap to). Click “Connect Wallet” again, this time selecting the other cryptocurrency and then Trezor once more. Now both wallets should be connected, and you should see a “Swap” button.

 

[lory]

So far it has been like this more than 10 minutes! That's much longer than with kraken, how long does a SWAP take normally ?

 

[Freetrade]

SoNewToAllShit said:
Is it secure to do what it is asking for here:
View attachment 8076

It always said that you never should give out your passphrase ?
Click to expand...

NEVER put your passphrase/seed phrase/private key into a computer or phone.

sorry, I have no idea re Trezor and Thorswap, never used a trezor.

 

[wonderfulboy]

lory said:
So far it has been like this more than 10 minutes! That's much longer than with kraken, how long does a SWAP take normally ?

View attachment 8080
Click to expand...

Did it went through? There must have been a high load on the network at the time you made this transaction?

Thanks for helping out, I successfully connected my Trezor and Ledger wallet to this exchange. Put a swap in there for 5000 USDC to BTC was done in minutes.

 

[lory]

wonderfulboy said:
Did it went through? There must have been a high load on the network at the time you made this transaction?
Click to expand...

Yeah, it all went through after about 12 minutes.

I did a swap of 30K EUR from USDC to LTC, and then another 30K USDT to BTC. Both took less than 10 minutes.

 

[EliasIT]

Clank said:
They can't freeze and they don't have KYC.

They can't run away with your money as it's a smart contract. Nevertheless you should always be careful if you stake in decentralized platforms as they might have vulnerabilities. Using it for swapping has nearly 0 risk.
Click to expand...

Today, I had the chance to test the method, and I realize now my question was a bit off. I didn't realize that you connect your wallet directly to the service, avoiding any third party from handling the transaction or potentially blocking it or asking for KYC. It's truly an amazing way to bypass all the red tape and feel completely free in the financial world.

Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[Houdini]

This is really clever! I'm not particularly tech-savvy, so I didn't know about this until reading this thread. The ability to connect your hardware wallet, like Trezor, Ledger, etc., directly to a decentralized exchange is brilliant, especially if you want to avoid CRS or other reporting in the future, as it lets you stay completely out of the publicly monitored system.

However, I also don't see how OP managed to exchange cryptos for 700 euros. For 100K euros, it costs around 80 euros to exchange, depending on which crypto you're swapping from / to.

 

[wellington]

jayM said:
I want to exchange 32200 EUR to BTC via SWAP in Trezor - ChangeHero want to charge me 700 EUR in exchange fees 😵

Same if I want to do in ETH 1inch charge 650 EUR !!

What to do, can it be done cheaper?
Click to expand...

Multiple parties in that exchange each adding their fees

 

[JackAlabama]

SoNewToAllShit said:
Is it secure to do what it is asking for here:
View attachment 8076

It always said that you never should give out your passphrase ?
Click to expand...

the passphrase is not your seed. Its like the 13th or the 25th word. It can be more than a word, it could be a sentence or your secret seggs fantasy or whatever.

You can safely input THIS but ***ONLY THIS*** word there.