I got my blockcard Ternio. Just activated it and ignoring my balance deposit of $150 initially now currently show I only have $100 balance and $90 spendable balance, so I loss $50, not including the $10 minimum balance. Also there will be $5 fee if I don’t transact at least $750 a month on this blockcard.
Now I’m testing the deposit of $750 to see if I can get 145,000 Ternio coin tokens to qualify for the 6% interest rewards. Currently I have 18,272 Ternio TERN coin balance and the Total balance in USD is $109, so I’m guessing $109 divided by 18,272 TERN = 0.006 $ per TERN coin, and I would need 126,728 TERN token to get 145,000 TERN (145,000-18272) that calculate to about $760 ($0.006 x 126,728) needed. So I know the fluctuation price of Bitcoin, first Bitcoin price right now is $9500, by depositing 0.08BTC will get me $760 and so I did deposit 0.08BTC and immediately blockchard Ternio got the transaction but saying it could take seconds to 24 hours.
I refreshed the blockchain and my blockcard dashboard very frequent to see when it will hit my DashBoard balance. Indeed 30 minutes later it hit my Dashboard and the total balance is $660 with 116,929 Ternio TERN coin, not even close to 145,000 coins. So I’m missing about 9,799 TERN coin expecting that is. So what happened? Well I already got confirmation from TERN Ternio Blockcard support confirmed to me that the price is within their internal system that’s about it, they did not go further on explaining how the price fluctuated within their internal platform system, so at the moment it’s anyone’s guess, conspiracy theory whatever, they could be manually manipulating it, apparently it’s not transparent.
So I think I’m off about $58 worth of TERN coin (9799 coins) which is about 7.3% off, but that’s not the end of it once again the price fluctuate. When I got the notification that blockcard Ternio had received the 0.08BTC I immediately checked the price of Bitcoin and it is $9450 ($50 lower than initial deposit price) which equivalent to $756 so I should see $756 more into TERN balance USD $? nope that’s not the case at all, so maybe ther TERN price went down or there were some internal fees that I don’t see. So the Blockcard balance now say I have $660 with $650 spendable. Let break it down on the timeline.
Deposit 0.08BTC @ $9500 = $760
Got into Ternio BlockCard 30 minutes later 0.08BTC @ $9450 should = increase of $756. Actual balance increased = $551. Loss of $205?????? where does it go? The total balance is $660 including previous deposit.
1 Hour later checked again on BlockCard Ternio Dashboard total balance now $580 loss another $80 within 1 hour.
2 Hours later checked again on Blockcard Ternio dashboard balance now $500 loss another $80 within another hour, seems like it’s going down every hours. Current Bitcoin price $9500, with TERN coin token price still at $0.008 on external exchange. So there’s a big question mark on internal Ternio token coin price.
2.5hours later dashboard of Ternio blockcard say I have total $423, ouch! from $660 within 2 hours loss of more than $200 to spend. I really need to test external exchange to see if I really can exchange it at higher price.
Edit @ 10pm Eastern time, checked Dashboard again seeing $818 total balance with $808 spendable now that’s more like it, but guess what? I’m not expecting to see this in the next few minutes, would not be a surprise if it go back down to $400 with an hour or so.
So what’s going on? I do not know. But I will be asking support to shed some light here, I’m guessing Ternio internal platform price is not transparent to the users so the price may dropped or something within their private internal exchange platform not transparent to the users.
However still, I’m interested in if I can withdraw the TERN and maybe sell it on external exchange and get the price I was calculating. Internal price might be 10% less, external seems to be higher like 10%. So if the price on external exchange is 0.0079 TERN then my balance would be about $923 ($0.0079 x 116,929) which is pretty close, and the internal Ternio private (not transparent) exchange rate is 0.0049 then my total balance is $584. So we’re off about 0.003 which is about 37%
So I think the internal Ternio TERN Blockcard private exchange is 37% off comparing to actual external exchange. Right now I’m looking at https://www.coingecko.com/en/coins/ternio $0.008 per TERN coin token. That would turn my 116,272 TERN into $930, However if I leave it sitting inside TERN platform then I would only have $586 ($930 minus 37% = $586) So the internal exchange platform is indeed off by 37% or so.
I will test trying to withdraw TERN from blockcard Ternio platform into an external exchange and try to trade it to Bitcoin see if it indeed work, if so, Ternio Blockcard is ok I guess on certain perspective but I’m still seeing a 37% loss immediately when your deposit hit the platform, so you can’t really expect deposit $100 bitcoin and spend $90 right away or even 30 minutes later because your $100 deposit will really be $63 with only $53 spendable. Within hours or maybe days it could go up or down we don’t really know since it’s internal private price fluctuate not transparent to us.