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Why have I received less than expected from my swap?
Contents
Mind the estimate
How is the swap rate calculated?
Why was the initial estimate higher than the final one?
Mind the estimate
Before you place your order, the app will give you an estimate of your swap outcome. All fees are already accounted for in that estimate. The swap rate and the estimate change every 5 seconds.
Note: Pay close attention to the swap rate fluctuations. Sometimes you may not notice that the swap rate shifted before you initiated the swap which will result in you receiving less than you expected.
How is the swap rate calculated?
Note that crypto swap rates aren't tied to their fiat equivalents. You're making a direct crypto-to-crypto trade, which renders any fiat values irrelevant. If either coin's fiat price goes up or down while you're making your swap, this won't have any impact on the amount you are to receive. In other words, the fiat values of the crypto holdings you see in your wallet aren't directly connected to the swap rate.
Here's an example: Bob traded 7 ETH for 0.25 BTC. When he was clicking the Swap button, BTC's USD value was at $54,656 per BTC, and ETH's was at $1,952 per coin. While the Ethereum blockchain was processing Bob's transaction, BTC's price fell down to $53,800. As a result, Bob ended up giving $13,664 in ETH for $13,450 in BTC. There won't anu compensation to Bob, though, as he still received the 0.25 BTC he agreed to purchase.
Here's another example: Alice traded 7 ETH for 0.25 BTC. When she was clicking the Swap button, BTC's USD value was at $54,656 per BTC, and ETH's was at $1,952 per coin. While the Ethereum blockchain was processing Alice's transaction, BTC's price went up to $59,200. As a result, Alice ended up giving $13,664 in ETH for $14,800 in BTC. Congratulations to Alice!
Keep in mind that no currency swap can afford a 1:1 rate; this stands true for fiat and crypto swaps alike.
What's more, blockchain transactions aren't free. Since every single one has to be processed by miners, the sender has to pay network fees for it. The estimate you're prompted with before making a swap already accounts for the fee our partners will need to pay.
Why have I received less than the initial estimate?
To sum the possible reasons up:
- The price of either or both coins you're trading went up or down;
- The network fee changed while your swap was being processed;
The vast majority of orders are processed in just a few minutes. Delays do arise at times, though, and there can be a number of reasons behind these. Perhaps the blockchain was overloaded and it took quite a while for it to get your deposit confirmed.
If you believe you've received much less than you were supposed to based on the swap estimate, do the following:
- Go to the Swap tab;
- Switch to the Order History tab in the top panel. If you're using our mobile app, tap the icon at the top-right corner;
- Click on the swap you have any questions about;
- Select the Contact support button.
This will open your default e-mail client with a pre-written letter containing your swap Order ID. In your letter, give more details about what happened. The support team will look into your case, check in with our partners, and issue compensation for you if there is indeed an issue on our side. Thanks for your patience!