A Review of Crypto Vouchers for Buying Steem
View this post on Hive: A Review of Crypto Vouchers for Buying Steem
I've moved to Hive, along with most other people, following Justin Sun's takeover of Steem in the Spring of 2020. I believe hive is a lot more decentralised than Steem!
I can't imagine what would justify that kind of a fee. I use coinbase and binance to acquire Steem. The fee isn't anywhere near that much.
I'm really hoping it's less if you buy more. it is a crazy amount to lose isn't it!
NB - it is less to buy more, edited above following a response to my query!
We don't charge that much of fees, our service fee is only 4% the rest of crypto withdrawal fees are explained above. As for Binance , it is impossible to buy steem with 10 euros , the minimum buy amount would be 21 euro as of today. We know that there is a room for improving the fees but unfortunately it not only up to us. Your friends at Crypto Voucher
Thank you for your review and feedback, and especially for clarifying the fees after the initial misunderstanding. We really appreciate it.
The fee makes it quite unattractive but the fact that the infrastructure is being put in place is encouraging as we consider the improvements that could happen as it matures. I think that things will become easier as adoption increases and things like regulation become clearer in the future. I do like the idea for new adopters to crypto and could gift them to family and friends for special events!
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As per the explanation of the fee, above our service fee is only 4%, the rest of the crypto fees is not up to us but we try to control it. As you said we're creating the technology platform that will allow users to easily buy cryptocurrencies, unfortunately not everything is up to us. We take the initiative on steem and enable Steem even for 10 euro vouchers knowing that this will create the confusion about our fees which is way more less than the assumption initially made then clarified by our friend @revisesociology. If you will buy higher amounts of voucher the fees will be very competitive. Your friends at Crypto Voucher
Thanks for the update! I had seen this for this and another post! It may work out as I normally buy $500+ at a time! I will take a look for my next purchase!
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You've picked up on some nice advantages there, well summarised! That should have been my conclusion!
NB - edited, the fess are less if you buy more!
Well I don't need to do a review now as I said I would for @exyle.
Fees on the way out are 30%? I calculated about 2.5% on the way in.
I could have done a more thorough job of calculating what you lose coming in, it says 4% on the web site, so I went with that rather than calculating it for myself.
The 30% is overall - I got from that 4% + the 26% withdrawal fee as calculated above (worked out at 4 decimal places) and triangulated with the example below too, which was a different voucher i bought.
NB then on top of that you've got the £0.50 fee from Eneba, or the £9.50 SEPA transfer fee - the later was the stupidest money I've spent this year, but I justified it as being worth a gamble - you get a lottery entry, you never know, I might win 70% of the 50 Euro voucher. I didn't outline that above, as it's supposed to be a partly promotional task, and that's my choice. I've also lost the plot with money ATM as I've been piling up steem to bid on one of those legendary planets, but they're now getting out of my range and so I'd rather power it up!
I'm waiting to hear from them as to whether it's a flat initial fee up to a certain level, then a percentage after that, it has to be the later?
The exact fees aren't mentioned on the web site - I should have put that in the review come to think of it.
I could test it out using a larger voucher, but I've lost enough already on this.
NB - the withdrawal fee is capped at 2.5 Euros, so if you're buying a larger value voucher it's not too bad.
In the way in the fees are 0% if you're buying directly from us, if you choose to buy from distributors they will charge their reselling fee. We're working on adding more payment methods. As for the way out the fees are only 4% plus the crypto withdrawal fees that are explained above by our friend @revisesociology. You friends at Crypto Voucher
Vouchers in the crypto world? They were voted the worlds worst gift once.. and I have to agree.
Remember when HMV nearly went bust years ago? I had a voucher and desperately tried to spend it..
Oh no, said he bouncer on the door,.. we're going bust and your fucked!
OK,... so its not the same thing but I now have a inherent hated of vouchers. Unless you spend £10 and get a £20 one that is.
That charge is ludicrous... I'll stick to my existing ways and put £10 notes in birthday cards..
£10 in a card I like yer style!
More flexible too.
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Vouchers will be the ''bank notes'' of the crypto-space, if you believe in crypto as much as we do you will eventually one day give a voucher note instead of a bank note :). Your friends at Crypto Voucher
Nice review :)
Apart from the issue of the extraordinary fees, I have a system in place already and it ain't broke ...
If I was introducing a new person to steem, I'd be embarrassed about the fees and it wouldn't take long to sit with them and help them learn other ways to buy steem.
I guess, as @newageinv says, the encouraging thing is that new infrastructure is being put in place.
Yup - be interesting to chat about it at steem camp.
I guess it's not that tough to sign up with an exchange!
Posted using Partiko Android
If you will redeem a bigger voucher you will be charged 4% plus the crypto fees (capped at 2.5 euro) as our friend @revisesociology clarified above. So fees are still very competitive even comparing to exchanges.Your friends at Crypto Voucher
Thank you for letting me know. I've also read the edit on the post.
Good luck with your venture!
Damn I didn't notice that fee at the end actually, also it's interesting to see you got the card payment option in the end, it's still not there for me. Anyways great review and thanks for the mention!
This could be due to country laws or limitations.
I don't know why it hasn't shown up, it is odd.
NB - the fees are less if you buy larger amounts, capped at 2.5 Euros I've just discovered from CV.
Thanks for your review once again, please check the clarification of fees of a 10 euro voucher above. Your friends at Crypto Voucher
At that high of a fee, it's not going to be wroth it to buy STEEM for others through vouchers. They need to drop it. A tiered system is good, but 25% is too much.
NB - the withdrawal fee is capped at 2.5 Euros, so if you buy more the overall fee could be much less!
our fees are only 4% and the crypto withdrawal fees which is not up to us and explained above by our friend @revisesociology. Your friends at Crypto Voucher
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