I am learning/testing out Coinexx and learning Cryptos at the same time.
Using Gemini, I made a $500 transfer of Gemini USD to Coinexx. By time it arrived in my account, the value was $496.44.
I believe this currency is supposed to be pegged to a 1:1 USD ratio and the Gemini website is listed as having no fees Gemini USD when withdrawn and sent. Could anyone enlighten me to what would cause the 0.8% loss from point A to point B?
I’ve also opened a coinexx support ticket, but just wanted to see if anyone else could provide insight?
EDIT* I just noticed in an email from them after the deposit was confirmed saying
“Your Conversion rate for this transaction is 0.9929”
No where on their website is any sort of fees listed for depositing such as this. I still feel like Coinexx is one of the least sophisticated broker websites I’ve tested so far. Very lacking in actual necessary written information available. Also the security seems subpar.
Not thrilled so far.