Orders to sell NVST for bitcoin taking far too long even though is well under market price, it seems like this site is a scam.
Any other site when a coin is well under market value it fly like the wind but in here it does not matter what orders never get bought.
is like there is not liquidity at all in here, like a scam site or a really badly run wallet.
A Decentralized EXchange (DEX) operates a bit differently than your traditional exchange.
The DEX behaves like a traditional exchange for all of its assets EXCEPT for Bitcoin. Since Bitcoin can not be escrowed by the protocol, any time a DEX order for BTC matches, the customer has to take an additional step and make a BTCpay transaction to send the BTC to the DEX in order to pay for the order. This is the main reason why there is not much BTC traffic on the DEX, because using BTC on the DEX is a bit more complicated.
I am currently working on adding a simplified DEX interface into my desktop wallet freewallet.io so that the DEX behaves more like a traditional exchange when trading BTC, and when your order matches, any BTC is automatically sent to the DEX instead of being a manual process for the user.
TL;DR… Counterparty and the Decentralized EXchange (DEX) are not scams, however using BTC on the DEX requires a bit of extra work which is why there is very low BTC volume on the DEX. There should be more BTC volume on the DEX in the coming months.
that means that it will take ages to sell a bit of nvst for bitcoin ?
Im afraid that a wallet that have problem moving bitcoins is doom to fail,
specially if we are talking of a wallet base on block chain tech…
Maybe the exchange of BTC to any counterparty asset should be disabled on the online counterwallets as long as there is no auto pay for BTC. Then you must buy XCP for BTC at a market like BitTrex, send XCP to counterwallet and then exchange XCP to any counterparty asset.