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crypto payment

V

Vacation

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Hi,

each time I try to use crypto as payment, new obstacles seem to grow before me. This time, the problem is that the site I'm purchasing BTC from is super slow and may take days to transfer the amount. How will this work if the exchange rate is changing in the meantime?

Let's say Redfox asks me to transfer 0.001 BTC to complete a purchase of 10 Euro (fictional conversion rate). I do so, but the sum arrives at Redfox not today, but next Tuesday. Until then, the exchange rate has gone down, so Redfox would need 0.002 BTC from me to get their 10 Euro value.

As a solution, I could just transfer 0.003 BTC to Redfox, so my balance would surely be covered, and Redfox could transfer the "change" back to me. Is this practical?

For the future I plan to keep the crypto currency in my own wallet, which I have full control over and I can transfer whenever I ef'ing well please. But future is future, while today is about learning. ;-)

Regards
 
I am not sure which exchange you are using but when I used BTC for RF stuff all my transactions were pretty much immediate. So whatever you are using seems odd to me based on that prior experience.
 
Well, there are probably regional differences. Here in Europe "anything finance" (namely, banks or exchanges) tend to be "old style slow". Even though I could purchase crypto in the blink of an eye, transferring the sum out of the bank requires "processing". Go figure... :-(

Funny side note: I wrote a complaint to the bank a few hours ago. The auto-reply just arrived: "Due to an internal event our customer service is not available today..." That's the kind of business one has to work with here! :)
 
Last edited:
Sorry for your troubles. I am in the US and that's the point from which I was speaking.
 
Do NOT send more than the payment screen requests or your transaction will NOT be automatically recognised by the system and your license will NOT be automatically sent. If the system asks for 0.001 you need to send 0.001. No more, no less. The moment you send a crypto payment, a notification is sent to the blockchain, depending on RF's settings an incoming transaction with the required amount could be enough to send the license automatically. If the exchange rate then drops, that's not your problem.
 
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