Topic: Are trading fees too high? Coinbase Generated Nearly $2 Billion in Trading Fees - page 2. (Read 279 times)
October 30, 2019, 05:23:05 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.
October 30, 2019, 05:07:19 PM
No, they just hit the goldmine early. Very high percentage of crypto users has been using coinbase for buying with fiat for example. They are trusted, old and reliable newb friendly exchange. If there were more competition the fees would divide with other exchanges, but it takes time until they will get the same reputation. For example i am not suggesting any other new exchanges for my parents, because i have seen so many exit scams and i want those gullible people to be in safe hands even if that pays them more.
October 30, 2019, 05:05:30 PM
i think nope,
if coinbase generated about $2 billion thats normal,
because coinbase are a big exchange with wallet services too my friend
of course the trading fees will be huge
regards
if coinbase generated about $2 billion thats normal,
because coinbase are a big exchange with wallet services too my friend
of course the trading fees will be huge
regards
October 30, 2019, 04:59:56 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.
October 30, 2019, 04:58:22 PM
Of course they offer very good services.
The same can be said of Binance, which continually conducts studies on the industry, which helps its evolution.
They must earn, be profitable. That's the idea of doing business.
The same can be said of Binance, which continually conducts studies on the industry, which helps its evolution.
They must earn, be profitable. That's the idea of doing business.
coinbase is a big exchange and wallet service and there are lots of things they are doing..they are a buisness instituion so definitely they are a profitable company..they have source of income 
October 30, 2019, 04:51:27 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.
October 30, 2019, 04:45:12 PM
coinbase is a big exchange and wallet service and there are lots of things they are doing..they are a buisness instituion so definitely they are a profitable company..they have source of income
October 30, 2019, 04:44:27 PM
Meh. Most decentralized exchanges don't support many pairs and/or don't have much trading volume and low liquidity, and I'd much rather just pay the fees that are present on centralized exchanges while trading as a result. I support them nevertheless, but I just don't find them to be good enough at the moment to justify moving over to them, though if more people start using them in the future it's certainly possible decentralized exchanges become more viable in the future. Fees do suck and they can be pretty significant especially when trading on leverage, but I don't find them to be too outrageous and some places even offer a fee rebate if you enter your trades through limit orders.
October 30, 2019, 04:30:13 PM
Coinbase CEO Brian Armstrong recently said Coinbase has generated close to $2 billion in trading fees.
https://www.vanityfair.com/news/2019/10/brian-armstrong-confirms-coinbase-is-profitable
At this point it is worth asking: Are trading fees too high?
In the market for traditional products, intermediaries get a big slice of the business. According to this CEO's statements and the results of the crypto industry it seems that the same case is being repeated here.
Unlike traditional markets crypto have a solution already available. Decentralized exchanges.
These allow transactions with very low or even zero fees.
If the DEXs are a solution to the high fees maybe it will be demonstrated in the next years.
RELATED INFORMATION
More than 42% of all people in the blockchain industry work for cryptocurrency exchanges:
https://www.theblockcrypto.com/genesis/44300/research-42-of-blockchain-industry-employees-work-for-exchanges
https://www.vanityfair.com/news/2019/10/brian-armstrong-confirms-coinbase-is-profitable
At this point it is worth asking: Are trading fees too high?
In the market for traditional products, intermediaries get a big slice of the business. According to this CEO's statements and the results of the crypto industry it seems that the same case is being repeated here.
Unlike traditional markets crypto have a solution already available. Decentralized exchanges.
These allow transactions with very low or even zero fees.
If the DEXs are a solution to the high fees maybe it will be demonstrated in the next years.
RELATED INFORMATION
More than 42% of all people in the blockchain industry work for cryptocurrency exchanges:
https://www.theblockcrypto.com/genesis/44300/research-42-of-blockchain-industry-employees-work-for-exchanges
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