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 SINEGY Marketplace, Malaysian Digital Asset Exchange

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raynman
post Apr 9 2020, 08:00 PM

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I received this e-mail for my test deposit. It took less than 3 minutes to appear in my account after I did an instant transfer from my Maybank account. And it is after office hours. thumbup.gif
weichi
post Apr 10 2020, 01:19 PM

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QUOTE(ahbi1982 @ Apr 9 2020, 03:38 PM)
Hi,
it seems like deposit to UOB Malaysia.
So, if i transfer from Maybank Malaysia to UOB Malaysia, it does not charge any fees, right?
Cz i saw UOB swift code, wondering its TT or not..
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Yup, no fees for domestic bank transfers. The Swift code and Intermediary Bank info is for foreign bank accounts when they TT deposits over.
raynman
post Apr 15 2020, 08:57 AM

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After successfully deposited a test amount of RM20 a few days ago, this morning I tried a test withdrawal of RM20.

After entering the 2FA code, it says "insufficient fund".

Tried a lower figure but still the same. Is there a problem with the withdrawal function?
raynman
post Apr 15 2020, 06:31 PM

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Test withdrawal successful. Thanks, Weichi. smile.gif
weichi
post Apr 15 2020, 06:37 PM

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QUOTE(raynman @ Apr 15 2020, 06:31 PM)
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Test withdrawal successful. Thanks, Weichi.  smile.gif
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rclxms.gif
SUSCrimsonKing
post May 3 2020, 11:08 AM

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Sinegy exchange trading volume is rather thin compared to Luno.

The presence of market makers to induce liquidity is also quite apparent.

Hopefully things will work out for the better soon. smile.gif
raynman
post May 5 2020, 09:01 AM

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QUOTE(CrimsonKing @ May 3 2020, 11:08 AM)
Sinegy exchange trading volume is rather thin compared to Luno.

The presence of market makers to induce liquidity is also quite apparent.

Hopefully things will work out for the better soon.  smile.gif
*
It is understandable because Luno has been in existence much longer than Sinegy. Their Malaysian customer base is therefore much larger.

The order books will be more voluminous, with greater liquidity.

I suspect Luno also has its own market makers, but less aggressive and apparent.

For the record, I am also a Luno customer since 2017. smile.gif

weichi
post May 5 2020, 02:14 PM

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QUOTE(CrimsonKing @ May 3 2020, 11:08 AM)
Sinegy exchange trading volume is rather thin compared to Luno.

The presence of market makers to induce liquidity is also quite apparent.

Hopefully things will work out for the better soon.  smile.gif
*
Yes, we're relying more on our market-makers to maintain price stability for now. We're currently working on referral programs and launching our api suite to make it easier for the active traders to market-make.
weichi
post May 11 2020, 10:18 AM

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[TODAY ONLY!!} @ETHKL presents Bitcoin Halving Special: An Exchange with Luno, Sinegy, and Tokenize.

Register now and stay tuned for our LIVE session together with the representatives from the 2 other Malaysian regulated exchanges.

Registration:
https://www.meetup.com/en-AU/ETHMALAYSIA/ev...QhyAi1kg1dqjFRs
weichi
post Jun 15 2020, 04:00 PM

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SINEGY is introducing its new tool - Arb Scanner, a simple interface that displays the price spreads in % and MYR for Bitcoin markets available on Marketplace and Luno.

user posted image

Arb Scanner is designed for traders and investors in Malaysia to trade smarter by being able to:

1) Instantly look for the most profitable trade between MYR exchanges. Pure arbitrage with no fx conversions.

2) Execute your orders based on the best price!

3) Support the growth of regulated Malaysian exchanges!

Use Arb Scanner for FREE here: https://arbscan.sinegy.com/

jack2
post Oct 1 2020, 12:25 PM

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Why Sinegy has no liquidity de
jack2
post Oct 13 2020, 09:44 AM

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I'm withdrawing all assets from Sinegy with the following reasons:

1. Low liquidity
2. BTC withdrawal fee is too high which is 0.2% on your withdrawal amount. Say you deposited 1 btc and you wanna withdraw all. You will loss 0.002 BTC which costs you RM96 at current value of RM48000 per btc
extinct_83
post Oct 26 2020, 09:47 AM

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QUOTE(jack2 @ Oct 13 2020, 10:44 AM)
I'm withdrawing all assets from Sinegy with the following reasons:

1. Low liquidity
2. BTC withdrawal fee is too high which is 0.2% on your withdrawal amount. Say you deposited 1 btc and you wanna withdraw all. You will loss 0.002 BTC which costs you RM96 at current value of RM48000 per btc
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Do we need to look at the spread (~100) when redeeming/withdrawing/selling BTC? If it does, if the spread is too high - the loss would be higher on top of 0.2%?
jack2
post Oct 26 2020, 10:03 AM

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QUOTE(extinct_83 @ Oct 26 2020, 09:47 AM)
Do we need to look at the spread (~100) when redeeming/withdrawing/selling BTC? If it does, if the spread is too high - the loss would be higher on top of 0.2%?
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0.2% is on your withdrawal amount in BTC.
extinct_83
post Oct 28 2020, 12:22 AM

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Is there a way to have auto DCA of a certain amount (MYR) weekly or monthly order for both BTC and other currency? I find it hard with the trade function at the marketplace...
TechForumer
post Oct 30 2020, 12:11 PM

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Looks like this thread already dead and their representative already stopped replying since June, 2020. Is this SINEGY still legit and operating? Can it be trusted? Anyone still using them, can give some comments? I'm looking for a website to sell off my Bitcoin and liquidity them into my local bank account.
jack2
post Oct 30 2020, 12:28 PM

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QUOTE(TechForumer @ Oct 30 2020, 12:11 PM)
Looks like this thread already dead and their representative already stopped replying since June, 2020. Is this SINEGY still legit and operating? Can it be trusted? Anyone still using them, can give some comments? I'm looking for a website to sell off my Bitcoin and liquidity them into my local bank account.
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why dont use luno or me?
TechForumer
post Oct 30 2020, 12:31 PM

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QUOTE(jack2 @ Oct 30 2020, 12:28 PM)
why dont use luno or me?
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Read, Post #15
jack2
post Oct 30 2020, 12:59 PM

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QUOTE(TechForumer @ Oct 30 2020, 12:31 PM)
Read, Post #15
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Sinergy is low vol and u queue there until days or nights cant get the price liquidated.
TechForumer
post Oct 30 2020, 05:14 PM

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QUOTE(jack2 @ Oct 30 2020, 12:59 PM)
Sinergy is low vol and u queue there until days or nights cant get the price liquidated.
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Found your thread here: https://forum.lowyat.net/topic/4285717


This post has been edited by TechForumer: Oct 30 2020, 07:00 PM

 

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