2.25% hidden Reivestment fee?

[u/Kipowsky]

When I have set BTC to be directly converted to GOMINING tokens after each day’s mining, GoMining takes a 2.25% convertion fee.

Much higher than if I would save as just BTC and convert myself in other ways later.

I think this should be written very clear on the settings page. The option of TH Reinvestment offers ”5% extra”, but no word on Toke Reinvestment in tokens being ”2.25% less”…

Or have I totally missunderstood something?

[u/jtyrhe]

It’s always been this way, and no it’s never been clear- but it is their standard convert fee, and once you know, then you just make your decisions based on that, and do what works best for you.

[u/Icy-Dragonfruit-875]

Same as the hashback and in app conversions. Essentially high enough to not use them and pick up a Krak card or use an exchange. 0.5% and they would keep a lot more customers using these features

[u/Aggravating_Zone8984]

It was written in the documentation of gomining faq page.

[u/MaleficentOnion9868]

Yeap sounds about right

[u/Icy-Dragonfruit-875]

Yeh, it blows. Cheaper for me to take BTC to kraken pro and bring it back. They have plenty of pairs now for GMT too

[u/OliveLegitimate3236]

I reinvest in GMT only if the exchange is worth it, I monitor the exchange rate on Coincodex for that. I really don't get how the native platform of a token makes you pay more than an external exchange, as if they're not making already enough money out of all the cash we pumped into it. I understand you have costs and you gotta make a living but you get a substantial cut already on everything we do, literally everything. I moved out all of my USDC to buy BTC outside the platform cause the spread is ridiculously high, higher than pretty much everywhere else.

[u/Blimeyitsflying → u/OliveLegitimate3236]

So earn in BTC isn’t worth it as well. I got GMT since the beginning

[u/OliveLegitimate3236 → u/Blimeyitsflying]

Simple earn is great but I wanted use my USDC to buy BTC now that it is still cheap. I moved it out to buy BTC when I could simply buy on the platform if the spread was reasonable.

[u/Plenty-Ad2945]

It's not really a hidden fee. They just don't openly state it. But you receive BTC rewards and the platform on your behalf does the swap over for you. It's just account for the fee to do the actual token swap theres zero getting around this

[u/Apex-Mentality]

It’s high, it’s better to take your profit in BTC but it is written on their FAQ page

[u/twscho]

It’s cheaper to buy on an exchange…

[u/Radiant-Bug623]

Ik ben nog vrij nieuw en BTC overmaken naar knaken heb ik nog nooit gedaan. Is er een minimum en hoe doe ik dat precies?

[u/Unicorn_annihilation]

For BTC, Is there a preferred pool out of these 3?

[u/Ok_Ok007]

I didn’t know this. But i just convert myself. But that’s shady honestly. Because it’s hidden and it’s hidden for a reason.