If your service is completely based on enthusiasm and the trading fees is only 0,01%, where will you get funds for marketing and development? It's obvious that it won't be a problem if you have a million of users but what about now, at the start?
It will be almost impossible to overcome competitors if they have in times more fees and thus get more profits. They already have significant amount of users and have budgets for further development and advertising. Seems that low trading fee is not enough to become the first on the market and some kind of specific advantages like decentralization is needed. What will be your strategy if competitors lower their trading fees to 0,01%?
lol all the money the "other" they make with fees is just to go in their pocket. so your comment is useless, lot's off people will lots off money will be enthusiast to have smaller fees because when you trade big volume the fees on other exchange are significant.
Have a good day
Really useful answer and clarification. I even couldn't imagine what do the others do with their profits they get by charging huge fees. I thought they were donating all their earnings to charity. I also thought that every user was usually willing to pay high fees, that the more fees we pay for trading, the better for us. I thought fees were the things which made us really happy and that was the reason no one wanted to use any services for free. But thanks to your answer, now I see and understand, how greedy the others are and how things are really going.
One thing - unfortunately, seems you didn't get what was the question originally about but thank you a lot for your really useful answer and my reply's 'grade' in any way.
Have a nice day.
Hello dear traders
You are totally right, at Yade we do not have the same advertising budget as major exchanges have... But we have some strongs skills and are very decided to use them. We are pretty sure it will bring a lot of drastic changes (we hope so)
We are just out of dev, not even totally dry, but improving service each day. We have a strong roadmap and we will do our best to stick with it, (plus: roadmap should constantly be extended and improved)
A small team, higly-skilled, and will prove it. Every Yade's team member is giving 200% of itself to deliver you a good service. We are not (really) worry about our growing because we really believe in our project.
We are not saying we are very innovative (or not), but every feature idea or improvement will be take in consideration, we are just here to kick some butts in crypto exchange world...
If traders are happy with a service 25x times higher than ours, that's fine, but if people want to help us grow , we will make a donation address very soon.
Regards
Well ... if it's not just words and you will keep all your promises, that will be great and you'll find your users and followers for sure. It's nice to see that there are at least some people who're eager to offer good service rather than fulfill their pockets charging trading or any other fees. Wish you good luck with your roadmap implementation.