Why have I received less than expected from my exchange?

Contents

Mind the estimate
How is the exchange rate calculated?
Why was the initial estimate higher than the final one?

Mind the estimate

Before you place your order, the app will prompt you with an estimate on your exchange's outcome. Please make sure you're fine with this amount before hitting the Exchange button! We won't be able to issue a refund or compensation for you if that estimate ends up being accurate. Note, that all the fees, including the network fee, are included in this estimated amount.

How is the exchange rate calculated?

Please note that crypto exchange 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 exchange, this won't have any impact on the amount you are to receive. In other words, the fiat values of your crypto holdings you see in your wallet aren't directly related to the exchange rate.

Here's an example: Bob traded 7 ETH for 0.25 BTC. When he was clicking the Exchange 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. The exchange won't be offering a compensation to Bob, though, as he still received the 0.25 BTC he agreed to purchase. 

Here's an example: Alice traded 7 ETH for 0.25 BTC. When she was clicking the Exchange 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!

All trades made via the Exchange tab in Atomic Wallet get processed by our partners over at the ChangeNow exchange service. Please keep in mind that no currency exchange can afford a 1:1 rate; this stands true for fiat and crypto exchanges 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 an exchange already accounts for the fee our partners will need to pay. 

Why have I received less than the initial estimate?

To sum up, what can lead to getting less than expected in the exchange:

- Market fluctuations of one or both coins you are exchanging

- The network fee changed significantly during the exchange

The exchange will process the vast majority of orders in just a few minutes, making the initial estimate into the final output. Delays do arise at times, though. 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 exchange estimate, please do the following:

  1. Go to the Exchange tab.
  2. 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.

  3. Click on the exchange you have any questions about.
  4. Hit the Contact support button.

This will open your default e-mail client with a pre-written letter containing your exchange's unique Order ID. In your letter, please give more details on what happened. The support team will look into your case, check in with our exchange partners, and issue a compensation for you if there was indeed an issue on our side. Thanks for your patience!


Need some help? Contact us at support@atomicwallet.io. We provide quick and friendly support 24/7.

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