There seems to be an error on recent transactions. I received less tokens in the Trust Wallet Swap than what I should have received. Almost twice less. I verified on my Binance and it shows the correct amount for swapping AVA/BNB or vice versa, 73 AVA for 1 BNB or 1 BNB for 73 AVA on Binance App.
But I just verified,it seems that there is a glitch (error) in TrustWallet App. It shows that I must pay 1 BNB to receive 41 AVA, but if you do the opposite, it shows that I need to pay 78 AVA to receive 1 BNB. I did this twice on my Trust Wallet, after verifying the price on Binance, but I lost almost $350 CAD (Canadian Dollars) in total, in both transactions.
Basically,I should have received close to 78 AVA for 1 BNB, on my first transaction and around 101 AVA for 1.3 BNB on my second transaction. Instead I received 41 and 52. I’m missing at least 86 AVA in total for both my transactions.
recently Swapped about 2.3 BNB (Binance) coins for 93 AVA (Travala.com) coins. The transactions took place at around 4 a.m. eastern standard time, on February 25th, 2021.
At the time, 1 BNB was worth around $305 CAD (Canadian dollars) and 1 AVA was worth around $4.20 when I made the swap. I only received about 102 AVA in exchange for my 2.3 BNB. I should have received at least 166 AVA in exchange on the DEX Swap!
I’m missing close to $270 CAD less, worth in in AVA coins. I have taken a couple of videos to show you the glitch. I will share it once you’ve approved my post. I tried the same procedure on Binance and it gave me an equal amount for AVA/BNB or BNB using the DEX Swap. So there’s a problem on TrustWallet.
I hope that you can remedy this. I feel like I got robbed of my tokens. How can I Trust TrustWallet?
Please be informed that when you trade using the Trust Wallet app, you are interacting with the Binance DEX. You should be aware of how the orderbooks, spread, and slippage work.
In your case, you were likely affected by the spread/slippage of the transaction. When using the swap feature, you are the market-maker. Meaning, you take the highest buy order and lowest sell order.
Is Trust Wallet not the official wallet of Binance? I verified the exact same DEX SWAP of trading AVA for BNB and vice-versa on Binance, (because I also have the Binance App) and there was 0 (or close to zero) Slippage or difference in buy/sell price . I have taken the liberty to take videos of the incident. Please take a look at these videos to better visualize that this is a fatal error on Trust Wallet which is associated to Binance.
Trust Wallet is indeed an official wallet by Binance. The DEX feature in the app is Binance’s own DEX (Binance.org), not the Binance.com. That’s why the orderbooks and prices are somewhat different.
I understand. It was an expensive lesson to learn which cost me close to $300 CAD in losses. From now on I will do my trades on the Binance App and will gradually move my business out of Trust Wallet.
In the past two weeks I’ve purchased over $7,000 CAD in crypto through your affiliate MoonPay and I must say that the fees are extremely high. For example in my last transaction today, when I saw the price of a BNB coin was $282 before a trade, on Binance and Trust Wallet, MoonPay forced me to pay $297, so they forced me to pay 5% above the price when on Binance and Trust Wallet, a Swap or Trade has less than 0.5% Buy/Sell ratio. Plus to purchase $900 of crypto, I had to pay another $30 in processing fee. So far, I’ve paid close to $70 total in exorbitant price hikes and processing fees for every $1,000 purchase on Trust Wallet. That’s 7% fees and extra charges! And now this $300 “mistake” which would have NEVER happened on Binance.
I’m new in crypto, but I’m a quick learner and I’ve learned that Trust Wallet can NOT be trusted. Slippage of 75% - 90%? That’s called theft! I understand that you’re just doing your job. But this is unacceptable, to be a valued customer and be “tricked” like this, without offering any type of remedy. Do you think anyone in their right mind would purchase 40 AVA coins valued at $175 for 1 BNB valued at $325? Would YOU do that?
I will make sure I don’t refer anyone to Trust Wallet as it can not be Trusted. And I will make sure to gradually take business elsewhere. Thank you for your time.
If you could take your time to research further that would be great.
Then again, the Trust Wallet app has integrated the Binance DEX. Trust Wallet is not the one who is selling or buying your cryptos. All of the Binance Chain (BEP2) tokens that are available on the DEX feature of the app came from Binance’s DEX.
Sorry this is BS. I just lost $1000+ on a swap when Trust themselves say the swap could be up to 17% slippage, not 80%!!! This should not happen period, disable the swap feature. You’re going to get sued and lose on this issue.
You should be aware of the amount that you are going to trade and the available orders in the orderbook. The product is working as intended, you just have to understand how it works.
//Locking this thread since the OP’s issue is already answered. If you need further assistance, please create a new topic.
. I have taken the liberty to take videos of the incident. Please take a look at these videos to better visualize that this is a fatal error on Trust Wallet which is associated to Binance.