PSA: BTC refunds will no longer be free

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Hello!

Just an FYI to all our members, due to BitCoin transfer prices going crazy lately, we will now enforce the same procedures for refunds as bank wires. For example, a failed ticket that was paid via a bank wire which was refunded to the buyer carries a fee (usually around 25-35 USD). This fee was tacked on to the person (buyer or seller) who was the cause of the refund (missed deadlines/non-delivery). With BTC refunds, SWAPD always covered the fee. Unfortunatelty we have to end this practice because in some instances, BTC transfers are more expensive than PayPal fees. In the past we didn’t have a problem with this, but since BTC jumped to record value we’ve endure significant losses.

Examples from the past few days.

  1. A buyer over paid 24 USD while sending us a BTC payment, asked for a refund. The network fee was 35 USD (priority) to send 24 USD and 32 USD non-priority. (We weren’t even able to send this yet)
  2. A victim was paid out 60 USD today (via BTC) from our victim fund. This action amounted to a 20 USD transfer fee.

We’ve originally thought it was our online wallet fleecing us, but we’re noticing most BTC portals suffer from the same problem. This is why from now on, don’t be surprised if you see a negative balance in your SWAPD Rewards from failed tickets.

Thank you for understanding.

21 Likes
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I love you guys but why you dont take payments in stablecoin (USDT, USDC, etc) is honestly beyond me. I dont think there’s a single swapd’er that would be against this. Just get yourself a Binance wallet (it’s free) and we can all send you through BSC network or TRC20 and it’s free basically.

Not only will payments be basically immediate but the money the buyer pays will actually be worth the same when the seller collects.

Can we do a poll on this?

27 Likes
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Should definetely look into USDT to make things like these easier.

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definitely agree with @dorham , USDT is much better to deal with , the price will stay the same + no transfer fees + it’s almost immediate .

@SWAPD do you guys have a problem with USDT ?

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If a poll is made. I will be for @dorham suggestion.

Really would be a viable payment solution

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Would you be FOR adding stablecoin (USDT, USDC) payments?
  • No, only BTC
  • USDT on a Binance wallet
  • USDT
  • USDC

0 voters

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No problem, just no time to look into this.

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USDT & USDC are really good but why Binance ? It’s up to us dude. For example , I am not able to withdraw funds from Binance to my Card. That’s why i’m talking about dis…

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SWAPD , This is very good news and i would say that nothing should be free even it’s a deal cancellation

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You can withdraw on Binance to your bank account.

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13

Please bring USDT as payment method.

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14

Hm not sure

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You dont need binance as a buyer. You can send from any wallet you want, it will just be a USDT wallet for you. But for Binance users it will be dashing fast and easy, and cheap (basically free).

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That’s correct! I vote USDT!

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1000000% agreed

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USDC because I use coinbase xD <3

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Whatever is easy and inexpensive to you. @SWAPD

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It doesnt matter, if Swapd get a binance wallet, they can take it regardless.

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Have wallet on Binance and use Binance Smart Chain (BSC) Network the fees are so much less ( both sender and receiver must use same network ( Binance Wallet BSC Network )

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