BEWARE of Beaxy: 50% FEE... WHAT???

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HIVE Sitting on an Exchange

I transferred 88 HIVE to beaxy just in case HIVE popped, I could quickly trade it for BTC or whatever. Seeing the value of HIVE going up, I wanted to either trade it or withdraw it.

When I discovered HIVE was selling on BEAXY for about two penny's worth of BTC each (I could get $1.60 worth of BTC for my 88 HIVE... no thanks), I decided to withdraw my HIVE.

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That's a lot of zeros - the wrong kind of zeros!

Not So Fast: Minimum Withdrawal Amount is 100 HIVE

What? I can't just transfer it back to my wallet? What a scam! So I pondered in my mind... if I send 12 HIVE, I can get 100 HIVE from my Beaxy account. Alright. No biggie. Worth it. Let's do this.

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I discovered how EASY it is to transfer HIVE into my Beaxy account, just a few clicks, a memo and boom, there it is. 88 + 12 = 100 HIVE.

Let's get TRANSFERRING!

Come Home to Papa, Hard Earned 100 HIVE!

So my 100 HIVE is sitting there, just waiting to jump through the blockchain to it's home. Should be just as easy as transferring in... right?

Um, no.

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You will receive 50 HIVE... WHAT????

What's this? "You will receive: 50 HIVE"????? Worth $0.48 USD? So the fee must be fixed, payed in USD, but counted in their skewed price of HIVE. Seriously?

What.
A.
SCAM.

Be Careful With Exchanges

The site is very buggy, it looks a little like vaporware. I did click "Submit" and my Beaxy account balance shows 0 HIVE. Still waiting for it to appear in my HIVE wallet.

We'll see, maybe the fee was really 100% after all.

Beware of Beaxy


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Benjamin Turner: God fearer. Rooted in Messiah. Husband of @lturner. Father of FIVE wonderful children. The guy behind the camera. Blockchain enthusiast.

Bless the Most High!


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