Are there limits to selling?

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11 comments

  • Avatar
    blacksheepcoincollector

    The sell limit of $5000 is prohibitively restrictive. Can you please increase the sell limit?

  • Avatar
    Albert Yap

    Hi Russel,

     

    Can you please increase the buying/selling order limit from $5,000 AUD for either my account or make plans to change the limit for all accounts. 

    Another possible option which would be very convenient for users is to add an option which automatically calculates the maximum amount "$5,000" and allows the user to instantly sell without having to calculate the difference themselves which saves time.

    It would be beneficial for both parties as if the account owner is able to sell at a higher rate, coinspot will also receive more revenue in the form of fees.

     

    Thanks,

    Albert

  • Avatar
    Manimallia

    Is there anyway of having the 5k sell limit increased?

  • Avatar
    Tim Retallack

    I would like to have the $5000 buy/sell order limit lifted on my account. This makes buying and selling over this limit very frustrating.

  • Avatar
    Savic S82

    I would like to have my buy/sell limit increased, as it is extremely painful to run specific trading strategies. Is this hard or soft limit? And is there a way to increase it per account basis.

  • Avatar
    Nzacca

    I agree the 5k limit is the bottleneck in making this site great.

  • Avatar
    Savic S82

    Hi Russell - I'd like to apologise and speak behalf of all the people on this thread - and hate "busting balls", but getting back to the original thread - just a few questions:

    1. Is there a way to increase the buy/sell limit imposed by the platform? If no then, why? Is it a regulatory requirement or an existing platform limitation (although, I can't see why this would be the problem as arbitrary values should impose no computational or scaling demand on the platform itself)

    2. If yes, would this be a user by user request basis, and if so, is there a process we can follow?

    3. Finally - will CoinSpot be looking to increase the limit, and if so when would the likely timeline be AND what would be the limit increase (hopefully unlimited).

     

    Thank you for your great support. :)

     

    Sash.

  • Avatar
    Jason Nair

    Hi Team,

    Just requesting more info regarding the 5k selling limit increase just as the above traders.

    Regards,

    J.

  • Avatar
    Robert Kerketta

    Why coinspot experts are keeping mum? Just remove the condition in your code that probits user to sell more than 5k in one go. Obviously do your regression testing before moving the code to production

  • Avatar
    Jeffrey Lawson

    $5000 is a total joke; it's starting to show how amateurish Coinspot is, small minds, small thinking, small amounts.

    Apart from that, Coinspot has not replied openly to anyone.

    So cannot see any answers here at all, maybe there should be more competition out there to keep businesses like Coinspot on their toes.

    As God knows, Coinspot is making good money on the backs of investors, but they are not giving the investors anything in return.

    At least tell the investors what they are to do if they need to get out large amounts of cash, for instance, 1 bitcoins worth or more.

    What if someone hit the jackpot and wanted to withdraw out 100 bitcoins worth? take a year to get it out, and the costs would be incredible, "wake up Coinspot."

     

  • Avatar
    nuvit

    I concur with all comments above, if due to your limits one needs to sell 100 btc =1,369,000 as an example this would take 272 sell transactions. In the meantime the price can fluctuation puts downward pressure on the price causing losses..Is Coinspot australia prepared for a legal stoush that they may NOT win.

    You could not argue that your system could not handle the traffic, as increasing your sell limits would infact reduce the transaction numbers so that would not hold water...

    Message here is take blinkers of and listen to your client base and be transparent your inaction is going piss off your client/s for them to take a stand.

    Pleas pay attention there is going to be fair bit of upward run in the market so clients will want to cash out dont make so hard
    We understand there are backend issues but communication to the customer base is important.

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