I did my first ETH to NEO trades yesterday and I want to give some feedback. Sadly there are still no new feedback threads created by Fabio so I write it down here and hope it will find some attention.
I sent some ETH to my personal wallet to trade it for NEO.
So I started and wanted to trade but everytime I typed an amount into the trade boxes or clicked on the % buttons it filled the form with 0.00 and a info message that I do not have sufficient funds for this market order (small detail for wording: I wanted to do a limit order). I absolutely forgot about sending the funds to my trading account first and wondered why I am not able to trade.
It will help a lot if there would be an error message like âHey you want to trade here but you dont have enough eth in your trading account but I can see you have some in your personal account. Click here to transfer funds to your trading accountâ. -> Recommendation: Show more detailed error message
So next step was to send ETH to my trading account. This worked pretty easy but there was a fee of 0.008 ETH ($1.35) with is huge in my opinion for just transferring the funds! -> Recommendation: Please let us change gas and gwei. If one has to pay a dollar for every transfer he want to do he will quit for sure.
Then I traded and this was awesome. On thing: -> Please show the average price and total in both currencies (maybe in $ as well) if I hover over the buy or sell orders in the orderbook.
I sent the NEO back to my personal account and everything was fine.
Then I wanted to update my âDeltaâ app (portolio tracker) with the transaction I did but the order history did not show the total of my order in one line. For my order 8 trades were done so I had to calculate the total for the fees by my own.
Also I did not understand, why I had to pay fees for 5 of these 8 trades but for 3 there were no fees? -> Please summarize all trades that belong to an order
This problem comes along with depositing funds on the trading account. If they offer the option to choose gwei and gas a lot of people will be confused when they are not familiar with the Ethereum blockchain. What is gwei? What is gas?
Also when you start setting your fees on your own, you maybe will be upset because it takes a long time till the funds were transferred into your trading account. The problem here is not created by nash, it is created by the possible number of transactions on Ethereum. When they can scale up the possible number of transactions prices for the fees will be solved on its own. (also I heard ETH miners scaled up the block size in the last days? not sure about that)
Even though centralized exchanges deal with the same problem. When you deposit/withdraw your funds from the exchange to your external account or vise versa you pay the same fee as when you do this steps on nash.
The only efficiency problem I see is, that we have to pay fees for deposits/withdraws twice. First from the external account to your personal account and then from your personal account to your trading account for deposits and the other way round for withdraws. (if you use your external account as main account, problem does not appear if your personal account is your main account)
Easily solvable by hiding it under an âAdvancedâ link, which will show after clicking. MyEtherWallet does this. You can also put a link in there for more info on what gwei/gas is.
ETH Gas Station provides an API that can show you the current quick/medium/slow slow gwei settings so in that Advanced section Nash can simply show what those values are and what the expected waiting time per gwei is.
Also when you start setting your fees on your own, you maybe will be upset because it takes a long time till the funds were transferred into your trading account. The problem here is not created by nash, it is created by the possible number of transactions on Ethereum.
My concern is, that 0.008 ETH is a lot for sending ETH! Its more than the withdrawal fee on kraken exchange.
@Nick and @Kwicks that is not how fees works on Ethereum, I will see if we can do something on the copy, but what is shown is the maximum fee, on Ethereum you set a gas price for your transaction but the miner select a acceptable gas price for the block. This means that you receive a refund of the gas price on the difference of your bid.
Summary: the ETH fee displayed is the maximum, you actually pay much less than that. You can verify that by doing a simple Personal > Trading transfer. Usually fees are from $0.005 to $0.05.
@canesin In my first trade, even if i wanted to leave 0.2 eth as a fee to personal account from trading account after change neo to eth, amount didnt be transfered. After my trial that i transfered a little amount of eth to my personal account from outside, it done (transfer). Can you please check this. sorry for my bad english
I think, the Problem which i point out could not be understand. I am sorry for my poor English but i will be happy if you work to understand. When my first trade, ı can not transfer eth balance which in trading account to personel account if i change with eth. Is not is a problem? This forces me other exchange changing and causes to send eth balance to my personel account for transfer
In future try to leave 0.0015 ETH in personal account for transferring back out of trading. Its annoying i know but hopefully a solution will be found soon.