I'm accumulating projects like Blocknet like a mad man, for this very reason
Topic: Are trading fees too high? Coinbase Generated Nearly $2 Billion in Trading Fees (Read 308 times)
November 06, 2019, 12:14:58 PM
$2 Billion is an incredible amount. It's safe to say that 1% of that on any DEX could make those running them pretty wealthy long term. There's a few DEX projects out there that rewards people to run the DEX, which MIGHT be the one of the best opportunites in crypto right now.
I'm accumulating projects like Blocknet like a mad man, for this very reason
I'm accumulating projects like Blocknet like a mad man, for this very reason
November 06, 2019, 05:36:34 AM
DEXex are gradually coming up to fill the gap for high fee, but at the moment, traders and investors alike will still continue to patronize centralized exchanges for some reasons, which decentralized exchanges cannot for now fulfill. Coinbase has high traffic caused by traders and investors on their exchange, so it is likely that they would have generated such huge amount of money.
There are too many Dex's and all of them have very low liquidity - you can place an order and wait a week for it to be filled.
Rationally some Dex's ought to close and the remaining ought to consolidate, but that doesn't seem to be happening.
Those dexs are operating under their own company and we know that so many dapps protocol has already made to provide a better system for dex to build its dapps in the various protocol.
That's impossible for them to be consolidated from one to each other.
So many dexs make the volume in the market have divided even more to the various new dexs. I remember some dexs are getting less and less size of volume every day.
It looks like the dex is getting overloaded.
November 05, 2019, 07:42:13 AM
current trading fees are quite cheap and I think that's standard. the reason why they can get such huge profits is because they have many users and each user gives them an profit. if you really want to be cheaper, use DEX, but I don't think this will be the same as when you use CEX.
Coinbase is one of the most know trading site in the world of crypto currency. In fact as the time passed by many users caught their attention about this trading site due to their great features which can make them comfortable. Nowadays, about their fees is just normal as before base on the previous years situation. On the previous years coinbase is not availabe on some countries due to some jurisdiction that need a clarification.
That is exactly the point,,, sometimes it is not about the fees but the trust and reputation. Everybody in the US for sure knows that to get a exchange running there you need to pass all the hoops and laws, and if Coinbase can do it, that means you can trust it.
Would I pay 1% fee at an exchange not regulated or 4% fee at regulated exchange? For sure the 4%.
But would I pay less at a DEX with non custody wallet? For sure this!
November 04, 2019, 06:25:07 PM
DEXex are gradually coming up to fill the gap for high fee, but at the moment, traders and investors alike will still continue to patronize centralized exchanges for some reasons, which decentralized exchanges cannot for now fulfill. Coinbase has high traffic caused by traders and investors on their exchange, so it is likely that they would have generated such huge amount of money.
There are too many Dex's and all of them have very low liquidity - you can place an order and wait a week for it to be filled.
Rationally some Dex's ought to close and the remaining ought to consolidate, but that doesn't seem to be happening.
November 02, 2019, 10:48:26 AM
For now, most of the exchanges rely on the trading fees they generated from spot trading but I can see that changing with time as more products enters the space, exchanges business is getting very competitive and most new exchanges are struggling to attract users and because they don't have that huge competitive advantage over others they will close shop soon
November 01, 2019, 05:21:57 AM
i dont think that dex'es are the solution for the high fees .ive been an avid user of dex'es but i observed that they still have a minimum fee ( trading fee and withdrawal fee ) they dont really differ on the cex'es but dex'es only have an advantage when it comes to privacy because dex'es were known to be anon . coinbase accumulated fees are too big but that is true that fees were really expensive and will become more expensive when the price of cryptos pumped up .
November 01, 2019, 04:26:45 AM
Yeah, if there's a service that kind of a little bit high but isn't really that expensive. It's good to consider that you're also helping the business to continue and as well as giving the convenience to each of their customers including you.
The transaction fee that they are asking shouldn't be a big thing unless it's totally expensive to the point that it's no longer acceptable.
The transaction fee that they are asking shouldn't be a big thing unless it's totally expensive to the point that it's no longer acceptable.
At least you are sure that no matter what, they will not screw you with your money. It is like using exchanges with higher transfer fees (i.e. 50k-150k sats) as compared to low tx fee (10k-20k sats), the waiting time with higher transfer fees is very short while with the lower one, it might take days or weeks. So which one would you choose, of course the one with higher transfer fees. At least you have peace of mind that you will get your money on time.
And the fees also depends on the network so this has nothing to do with the exchange and they always give that reminder that delays might happen if you will not choose the priority.
October 31, 2019, 04:47:59 PM
Coinbase is a business and they have to profit to continue their expenditures like the salary of their employees and other cost of their operations. I haven't used coinbase for a long time because I don't see it fit with my favor but if the fee is others concern then they should stop using them and try to get into decentralized exchanges which mostly have low volumes. The convenience that this kind of exchange brings to the users is of one concern why many are coming back to them and keep on using them.
Yes people need to think from an organization's point of view as well and I normally uses Coinbase or Binance and trust me they have really good support team which comes at a cost, Initially even I use to feel the same about the trading fees but eventually understood the fact they cannot do charitable services. Sometimes transaction fees are pinch especially when the value of bitcoin is high and if we have to transfer small amount.
The transaction fee that they are asking shouldn't be a big thing unless it's totally expensive to the point that it's no longer acceptable.
At least you are sure that no matter what, they will not screw you with your money. It is like using exchanges with higher transfer fees (i.e. 50k-150k sats) as compared to low tx fee (10k-20k sats), the waiting time with higher transfer fees is very short while with the lower one, it might take days or weeks. So which one would you choose, of course the one with higher transfer fees. At least you have peace of mind that you will get your money on time.
October 31, 2019, 04:27:04 PM
Coinbase is a business and they have to profit to continue their expenditures like the salary of their employees and other cost of their operations. I haven't used coinbase for a long time because I don't see it fit with my favor but if the fee is others concern then they should stop using them and try to get into decentralized exchanges which mostly have low volumes. The convenience that this kind of exchange brings to the users is of one concern why many are coming back to them and keep on using them.
Yes people need to think from an organization's point of view as well and I normally uses Coinbase or Binance and trust me they have really good support team which comes at a cost, Initially even I use to feel the same about the trading fees but eventually understood the fact they cannot do charitable services. Sometimes transaction fees are pinch especially when the value of bitcoin is high and if we have to transfer small amount.
The transaction fee that they are asking shouldn't be a big thing unless it's totally expensive to the point that it's no longer acceptable.
October 31, 2019, 03:58:51 PM
Go to this site: https://www.bithumb.io/ you must only have metamask on your computer for the desktop version.
There is a no-charge exchange, even pays you in every trade: bgogo Actually, these kinds of exchanges are too much. But, if you are looking for DEX, investigate bithumbDEX that does not charge transaction fee. You can also try 0x, which offers a zero-fee trade. There is an option for everything, but we are "against" DEXs.
I try to search about bithumbdDex but unfortunately, they just have a mobile app i hope they can provide the desktop version so many people will use the dex.
At this point it is worth asking: Are trading fees too high?
i think the trading fees on coinbase is pretty high because they had 0.5% with total trading volume 24hr 200mln, so every day they can earn 1mln from the trading fees itself.
October 30, 2019, 11:18:35 PM
current trading fees are quite cheap and I think that's standard. the reason why they can get such huge profits is because they have many users and each user gives them an profit. if you really want to be cheaper, use DEX, but I don't think this will be the same as when you use CEX.
Coinbase is one of the most know trading site in the world of crypto currency. In fact as the time passed by many users caught their attention about this trading site due to their great features which can make them comfortable. Nowadays, about their fees is just normal as before base on the previous years situation. On the previous years coinbase is not availabe on some countries due to some jurisdiction that need a clarification.
October 30, 2019, 10:51:41 PM
Coinbase is a leading exchange it has millions of users and according to the CEO of coinbase, the $ 2 billion fee has been calculated since Coinbase launched in 2012. So the fee Coinbase collected, In my opinion is not a very high fee.
October 30, 2019, 10:21:49 PM
current trading fees are quite cheap and I think that's standard. the reason why they can get such huge profits is because they have many users and each user gives them an profit. if you really want to be cheaper, use DEX, but I don't think this will be the same as when you use CEX.
October 30, 2019, 06:48:01 PM
This is the real profits from trading fee or you can earn from exchange. Coinbase didn't earn 2 billions for trading fee, only high volume can help you to rise this funds. Although Coinbase has high developers team and employee. You should check earned money from Binance trading fees.
October 30, 2019, 05:55:38 PM
Not that high but the volume of trades makes more profitable to some exchanges and we all know Coinbase is a good exchange too and thats why they earn a lot of money. They earn not just on trading fees but also in other way, so having a good exchange is a good business that can last Longer.
October 30, 2019, 05:40:16 PM
Coinbase is a wallet, and the crypto exchange is quite large in volume. Coinbase was founded in 2012 [1] 3 years after the launch of bitcoin. in my opinion it's not a big trade cost, but high market liquidity and coinbase have been around for a long time. it's only natural that in my opinion the current coinbase CEO Brian Armstrong has earned nearly $ 2 billion.
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[1] https://en.wikipedia.org/wiki/Coinbase
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[1] https://en.wikipedia.org/wiki/Coinbase
October 30, 2019, 05:30:30 PM
Maybe the trading fee is high, but if you see a lot of traders who trade there proving that they are satisfied and comfortable trading there, so the fee are not a problem for them. Meaning that as long as the Coinbase fee is still comparable to their service it's perfectly normal, and also have to remember that $2 Billion not a profit for a year, but the total profit from the first of their service start from 2012. My opinion Coinbase got profit greater in 2017 due the high BTC prices.
I don't think DEX is solution to reduce trading fee which trader should pay, not for the moment, maybe later after many trader more concern about to reduce trading fee and start using DEX as first choice to trade.
I don't think DEX is solution to reduce trading fee which trader should pay, not for the moment, maybe later after many trader more concern about to reduce trading fee and start using DEX as first choice to trade.
October 30, 2019, 05:11:18 PM
The coinbase is giving the crypto trading service from more than 5 years as per my knowledge so there is no doubt that they can generated $2 billion in trading fees, but they are changing more trading fees compared to other crypto exchanges.
Best way to use dex exchanges for avoiding trading fees and my best dex exchange is binance dex.
Best way to use dex exchanges for avoiding trading fees and my best dex exchange is binance dex.
October 30, 2019, 04:43:32 PM
There is a no-charge exchange, even pays you in every trade: bgogo Actually, these kinds of exchanges are too much. But, if you are looking for DEX, investigate bithumbDEX that does not charge transaction fee. You can also try 0x, which offers a zero-fee trade. There is an option for everything, but we are "against" DEXs.
I try to search about bithumbdDex but unfortunately, they just have a mobile app i hope they can provide the desktop version so many people will use the dex.
At this point it is worth asking: Are trading fees too high?
i think the trading fees on coinbase is pretty high because they had 0.5% with total trading volume 24hr 200mln, so every day they can earn 1mln from the trading fees itself.
October 30, 2019, 04:34:31 PM
Are trading fees too high?
There is a no-charge exchange, even pays you in every trade: bgogo Actually, these kinds of exchanges are too much. But, if you are looking for DEX, investigate bithumbDEX that does not charge transaction fee. You can also try 0x, which offers a zero-fee trade. There is an option for everything, but we are "against" DEXs.
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