Safex Buy and Sell Halted

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  • Avatar
    Owais Pervaiz

    Hi Claude,

    Can you please let me know how long this halt will be for ? I know for a fact that safex has been in the spot light since the delisting from bitrex, and dispute with cryptopia. But in relation to trading at coinspot why has the trading halted ? If you can please let me know when trading will commence that would be awesome.

    Regards

  • Avatar
    Kevods14a

    Would like to be kept up-to-date if at all possible thank you

  • Avatar
    Wmahmed83

    It’s been 5 days for this halt. I have my investment stuck. When is this issue going to be resolved

  • Avatar
    chrislilburn

    This has to be resolved ASAP.
    Our investment is trapped.
    How much longer must we wait?

  • Avatar
    Admin

    SAFEX can’t be traded if it’s not listed not even coinspot will be able to exchange it or no other exchange in the world... they are trying to get a deal through for allowing dividends which will be a big thing for all cryptos as dividends will bring in more investments... so hopefully one exchange will be allowed to list them again and I think many cryptos will follow.

    Coinspot can we please be updated “before” major things like this happen that cause the coin not be traded anymore? The news has been out for a week or more? Maybe a newsletter?

  • Avatar
    Aaron Carter

    HI, i am also trying to figure out what is happening. Absolutely not wanting to sell, if anything i want to buy more. If nobody can trade it thats fine, but still wanting to be updated.

     

    Thanks

  • Avatar
    Welldr2010

    Hi Claude

    I'm also disappointed at the lack of communication about this delisting. It would be great if you can email all investors that have this coin with where your at with negotiations...etc..in fact anything would be greatly appreciated instead of just not saying anything!
    An update update with what our options are would be nice.

  • Avatar
    Admin

    I guess no one can trade... at the moment it seems like the coin is gone completely... no exchange wants to list it...

    Anyone from Coinspot has any news? Maybe put in place a process to protect coinspot investors in the future? A newsletter? A synced calendar with latest updates? Anything?

    The team at coinspot has been amazing always but in instances like this maybe it’s time to implement new processes to avoid this happening in the future and having people leave coinspot to other exchanges who are already doing it?

    Thanks

  • Avatar
    Info

    So,simply can someone,anyone explain what Will happen with the thousands of dollars I invested in safex.

    Is my money gone forever? what do they mean by dividends?

    Has my horse come in last and have I lost my money?

  • Avatar
    Aaron Carter

    @admin, this is not true - Dan is in discussions as we speak re getting onto exchanges. The question simply comes back to coinspot if you have coins sitting on their platform. Can we send SAFEX to our wallets if it's still on the coinspot wallet?

  • Avatar
    Admin

    @Aaron agree of course if its sending from Coinspot to your hard wallet... Did you try to do it?

    What do you mean by not true? I was commenting on actually trading the coin itself (ie buying/selling) which is what most people are asking about now... cant do it before it gets listed isnt it?

  • Avatar
    Aaron Carter

    @Admin, sorry I should have clarified. I was referring to no exchange wanting it. Cryptopia removal was questionable indeed, and bittrex won't allow because it's going to pay dividends (watch that space as more and more will be paying dividends so expect that exchange to change their tune in the future rather then deny the potential income). But Dan said in a developer update that he is talking with multiple exchanges and that while he cannot give more info at this time as it's still in negotiations, that it's looking very positive. Safex is beaten down for sure, but more exchanges will come.

    Sorry, sounded harsher then I meant.

  • Avatar
    Md M Chowdhury

    Coinspot has to come with a resolution soon for SAFEX investors.Money cant stay trapped!

  • Avatar
    Admin

    @Aaron no worries :) glad to see engagement and getting more info... by the way what did you mean by “Safex is beaten down for sure”?

  • Avatar
    Jamie

    Will our tokens remain in the site wallet until a new exchange is found, or is it recommended that users transfer their Safex tokens to the official wallet until it is listed on a new exchange and trading resumes? 

    Thanks in advance Admin :) 

  • Avatar
    Jspdimmick

    Y is this coin showing on dashboard as having an in cresses as no one can buy and sell

  • Avatar
    Admin

    Hi Coinspot,
    Trade Satoshi has listed SAFEX for trading. Does that mean you will be able to re activate it’s trading?
    Thanks

  • Avatar
    U139bs

    Admin, I would think there are a number of 'Exchanges' out there. And of those number of Exchanges a high proportion will be dodgy non self regulated, let alone regulated in general... back yard operations.

    Although I sympathise with all those holding SAFEX, and I am one of them... I would rather leave it in the hands of the Coinspot staff to investigate as well implement a new strategy.

    Thinking logically it is in there interest to build and maintain a good reputation. And that includes the quality of the exchanges used.
    I also doubt the SAFEX management would want to endorse a backward step as well. I am sure they are also doing what they can to get it moving on a quality exchange while working with or waiting on the SAFEX management.
    Again, logically it is in SAFEX managements interest as well as CoinSpots interest... and so therefore our interest, to get the next move right and done patiently... it is a virtue after all (:

    I am not against you or any others who want a swift resolution! I am against an ill-though-out rushed dodgy outcome that could end up being the last nail in the coffin of the SAFEX brand.
    I am still positive SAFEX has a lot to offer... if patiently implemented.

    So, as you can tell I am against the idea of using the best of the bad bunch of exchanges i.e. Trade Satoshi. They wouldn't be able to cope with the influx and would crash anyway. And in the process loosing coins and causing more damage in the process.

    I am also wondering about the trade percentages showing on my SAFEX in CoinSpot... it cannot be coming from a reputable exchange. I could be wrong, but have a feeling I am not.

    Ultimately all that can be done is being done I am sure.

    Cheers.

  • Avatar
    Aaron Carter

    @U139bs, totally agree. I thought coinspot was a middleman for bittrex or bitfinex, whatever exchange stopped safex. So hands would be handcuffed as they needed that exchange to be active with safex. Not sure if they can opportate safex without them.

    I did post another comment but looks.like.its been pending for a few days (coinspot not allowing it).

  • Avatar
    Sebastian Damm

    Dear Coinspot,

    As stated above Trade Satoshi has started trading SafeX again (Granted they are only trading SafeX to BTC) does this suggest we will have a resolution soon?

    As we all know Bittrex and other leading exchanges have removed Safe X based on the fact they will pay dividends. If Coinspot users are holding their coins in the Coinspot Safe X wallet will they be paid the future dividends or will these be lost?

    I have also noticed that your website indicates that the value of Safe X is constantly changing eg down 43% over the last 24 hours, and yet the indicated coin price is not actually changing. What is happening here?

    Any update on this issue would be greatly appreciated.

    Regards,

     

    Sebastian

     

     

  • Avatar
    Kevods14a

    Please update the safex price it is wrong as of 1.51am on the 24dec the price is 0.0590

  • Avatar
    Jackson Doherty

    I agree that Coinspot is caught in the middle of this current situation. However, i also believe that their response and ability to provide traders with any detailed information or confidence in their investments has been lack-lustre to say the least.

    For those interested in finding more information or keeping updated on this whole situation I would suggest joining the Safe Exchange forum on the Telegram app. You definitely won't find it here, as has been evident over the past week.

    Current market prices (USD) can also still be found on CoinMarketCap, where it is currently trading at .0423 USD. This also poses another question: is the reluctance of Coinspot to reinitiate trading of SAFEX also likely to increase with market price?

    Regardless, it might be time to familiarise with the Coinspot Terms of Service to understand the likely direction and legal grounding of any future decisions they may make.

    I still firmly believe that SAFEX has great potential and hope other fellow investors have not found this situation too stressful, especially given this time of year. I have also been a happy user of Coinspot as a whole; given it is a free service, and hope they continue to improve this platform in the future

    Festive regards and happy trading for the new year.

  • Avatar
    Aaron Carter

    I just want a bloody answer - am I able to transfer my coins off the coinspot wallet and into my SAFEX wallet.

    Coinspots inability to give me this answer has now made me so angry that i probably won't be using them in the future. I will also be informing everyone else of their reluctantancy to support their customers.

    It's a pretty simple question can.we.transfer.out.of.coinspot?

  • Avatar
    rrcrofts

    I know right it's a pretty simple question with a very simple answer, I'm surprised it has been asked

  • Avatar
    Jackson Doherty

    From what I understand we are supposed to be able to transfer coins from Coinspot into a SAFEX wallet, if you happen to have one. I am yet to attempt this though, as the fee to do so is 1500 SAFEX apparantly. Seems a bit exploitative of the whole situation to me.

    My growing concern is the lack of any in-depth information from Coinspot regarding this process, or possible alternatives. Whilst this forum was a great start for concerned investors to at least gather some info on the current situation, the fact that any information of substance has come from sources aside from Coinspot sh

  • Avatar
    Jackson Doherty

    *may not bode well for our confidence in Coinspot to do so if more info was to arise in the future. An updated market price or further updates from Coinspot developers could help to rectify this. I'm hoping such a lethargic response can be attributed to the time of year, and we may see further updates in the new year.

  • Avatar
    Jackson Doherty

    Should also add that minimum withdrawal from a Safex wallet is 3000. That's is after the 1500 withdrawal fee lol

  • Avatar
    rrcrofts

    How did you get to numbers? States minimum withdrawal is $3aud value and a 100 safex trans fee

  • Avatar
    Jackson Doherty

    Sorry, those values are relating to withdrawing SAFEX on Cryptopia. Received wrong information. Apologies

  • Avatar
    Aaron Carter

    Yeah 100 safex from coinspot. Being able to transfer when all I see is a hault, is different. No clarity what so ever despite asking. I'd try to transfer but I don't want to have the transactions fail and my coins be 'lost' only later to be blamed for transferring without being given the approval.

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