bitcoinea

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Sweatcoin has always had offers, even before they tokenised Sweat and made it tradable.

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I keep an eye on it, from time to time. You get the occasional half useful offer, such as a free month of Amazon Music or three free months of NordVPN. That sort of thing.

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Then one day I found an offer for a $20 sign-up bonus for a crypto exchange I’d never heard of, SwissMoney.

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I tried looking for the catch but it seemed pretty straightforward.

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Deposit at least $20 worth of crypto, get a $20 bonus.

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And it was as advertised. I signed up, deposited $20 worth of USDT, received an additional $20 in USDT.

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I then traded everything for BTC and forgot about it.

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This was back when the price of BTC was less than $40,000.

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Then BTC went up, and stayed up, and so the other day I remembered about it and decided to withdraw my funds.

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And guess what? SwissMoney is one of those CEXs (ie, nearly all of them) with hidden fees.

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In theory, there are no fees. In practice, when I place my withdrawal request, it was calculated at roughly the equivalent of, you’ve guessed it, $20 in BTC.

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How coincidental.

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I tried simulating the same operation in USDT or ETH, same fee.

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Well, you live and you learn.