I want to start by saying that I am not an expert in trading and I rarely use these platforms. Therefore, what I will explain below is the result of a more detailed analysis that I have done while using this platform.
Based on my limited experience using these platforms, I can say that b1exch is a simple, intuitive platform that inspires the necessary confidence for its use.
With that in mind, I would like to analyze the network fees applied, which I believe are either unclear or excessive for the operation. As mentioned in the
previous post, it performs BTC > USDT (TRC20) transactions, and I got the impression that the fee charged was excessive.
So, I decided to do another test, this time in reverse: USDT (TRC20) > BTC. Even though I paid a lower network fee than the previous transaction (perhaps because the amount was also different), this amount seemed a bit high to me. I will now try to explain the analysis I did (which I admit may be wrong).
After initiating the exchange process on the platform, I sent the USDT limit (TRC20) to the indicated address. In this transaction, I paid 6.4285TRX, which at the current rate is equivalent to about $1.84.
In turn, the network fee paid for registering a BTC block totaled $0.68.
In the end, according to b1exch, I paid $4.72 in processing fees (slippage + network).
So, if the first $1.84 is paid directly into my wallet to make the transfer (here the child isn't paying for the parent), and I pay b1exch a network fee of $0.68 to make the BTC transaction, where is the extra $4?
Even assuming that b1exch wants me to pay for a future transaction to reorganize my USDT balance (TRC20), assuming the same rate (since it doesn't make sense to imagine a future rate), I would pay the $1.84. That added up to about $2.50 in network fees, almost half of what I actually paid.
Another point that caught my attention is that the BTC transaction was made with a fee of 4.56 sat/vB, almost double the average block fee.
I can understand that the rates are variable and that b1exch won't use the minimums. But using values that are almost double what's necessary is also a waste of resources, both for them and for the clients.
In this regard, I suggest that the platform strive to be more balanced in the network fees applied, as well as clarify in more detail the reason for the fees used.
Note to the reader: I have not included transaction links here to maintain a certain level of privacy, but if necessary for a more thorough analysis, I am available to provide them.