Bitcoin exchange with no fee? | Bitcointalksearch.org

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Quote from: erikalui on September 20, 2019, 06:02:00 AM

I recently joined Exmarkets exchange and couldn't trade much as the volume was low but when I chose to withdraw, the fee was set to 0 and I could withdraw my ETH without paying any fee. I checked that this was the same for BTC withdrawal also. Not sure about other coins but I was shocked that there was no withdrawal fee charged and no KYC required as well. They added their own fee which was enough for the transaction. Has anyone tried it?

there is no one exchange in the internet without fees
if you find any of this thing , you should not trust it
because all blockchain of coins charge fees and the owner of site does not open site exchange without profit ( most site exchange crypto earn profit in transaction fees)

I have seen various exchanges without fees, infact they will take fees for the trades but when it comes for withdraw they will take fees only the amount that must be used to make the transaction.

Unlike yobit which charges 0.0012 btc for bitcoin withdraws.

milewilda

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Quote from: royalfestus on September 22, 2019, 12:52:59 PM

Quote from: erikalui on September 22, 2019, 12:42:24 PM

Quote from: adaseb on September 21, 2019, 10:52:09 PM

Poloniex sure brings back memories. I remember that during the crazy 2017 rally and where we were forced to pay $50 a transaction to get a transaction to confirm on the bitcoin network, Poloniex charged only 0.00010000 BTC for withdraws. So only about $1 and they were pretty much losing money on every withdraw because their withdraw engine used a fee as calculated by the network stats. So you were only charged $1 for the withdraw but they actually had to pay like $30-40 to process it.

Basically they were busy approving new accounts that they didn't have time to raise the fee until sometime at the end of the year. But I remember it was my favorate exchange because the withdraw fees were so low that you could do many withdraws and not have to worry about fees.

For Exmarkets, its most likely some promo that they are doing. Some exchanges and some casinos also do free withdraws. I think Gemini is also another exchange which doesn't charge for withdraws.

The thing here is Exmarkets doesn't require KYC while I guess Gemini does require it. Also, I agree the promotion is for a short time but till now I haven't traded on any exchange and paid zero fee and hence thought it was a glitch. I agree their trading fee is a bit high but it's OK for users trading lesser volume.

How do they make their money with freebies? I think the rich bitcoin holders wont consider the transaction fee as factor to go to there exchange, they will choose security over free transaction, Imagine no KYC also, I dont think this could attract traders to the exchange as they expect. Have heard alot about their failing IEO than the free transaction fee

Example on this one https://exmarkets.com/launchpad/pdata-eth
and the price https://exmarkets.com/trade/pdata-btc

Thats one of the IEO they've been offered and all can be seen on their launchpad as you say their are almost all failures.
I wouldnt consider to lay a finger on this one.

LTU_btc

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Slava Ukraini!

I've never heard about this exchange before. But free withdrawals sound nice, even if it's only temporary promotion. And probsbly such marketing gives some positive exposure for exchange, as we see from this thread. Most exchsnges have pretty high withdraw fees, especially when it comes to Bitcoin. So, on ExMarkets it's possible to save significant amount of money. Yes, they have trading fees same as all other exchanges, but I can't say that these fees are big. But as said above, trading volume on this exchange is low so far.

1Referee

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Quote from: erikalui on September 22, 2019, 12:42:24 PM

The thing here is Exmarkets doesn't require KYC while I guess Gemini does require it.

Gemini is just as brutal when it comes to subjecting users to KYC as Coinbase is, unfortunately. Undecided

Quote from: royalfestus on September 22, 2019, 12:52:59 PM

How do they make their money with freebies? I think the rich bitcoin holders wont consider the transaction fee as factor to go to there exchange, they will choose security over free transaction, Imagine no KYC also, I dont think this could attract traders to the exchange as they expect. Have heard alot about their failing IEO than the free transaction fee

Offering zero fee trading as promotion is a convenient way to increase your user count as exchange, because for most smaller fishes the fees are a big thing. It's not for nothing that we quite frequently see threads pop up here where people ask what the cheapest exchange is to trade on and whatnot.

I personally will always choose the quality exchanges over some hillbilly exchange just because it offers zero fee trading or "free" $xx signup bonus. Just stick to Binance or whatever other exchange you're using. They have listed enough shitcoins for people to trade so why chase after that one coin they haven't listed? Cheesy

royalfestus

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Quote from: erikalui on September 22, 2019, 12:42:24 PM

Quote from: adaseb on September 21, 2019, 10:52:09 PM

Poloniex sure brings back memories. I remember that during the crazy 2017 rally and where we were forced to pay $50 a transaction to get a transaction to confirm on the bitcoin network, Poloniex charged only 0.00010000 BTC for withdraws. So only about $1 and they were pretty much losing money on every withdraw because their withdraw engine used a fee as calculated by the network stats. So you were only charged $1 for the withdraw but they actually had to pay like $30-40 to process it.

Basically they were busy approving new accounts that they didn't have time to raise the fee until sometime at the end of the year. But I remember it was my favorate exchange because the withdraw fees were so low that you could do many withdraws and not have to worry about fees.

For Exmarkets, its most likely some promo that they are doing. Some exchanges and some casinos also do free withdraws. I think Gemini is also another exchange which doesn't charge for withdraws.

The thing here is Exmarkets doesn't require KYC while I guess Gemini does require it. Also, I agree the promotion is for a short time but till now I haven't traded on any exchange and paid zero fee and hence thought it was a glitch. I agree their trading fee is a bit high but it's OK for users trading lesser volume.

How do they make their money with freebies? I think the rich bitcoin holders wont consider the transaction fee as factor to go to there exchange, they will choose security over free transaction, Imagine no KYC also, I dont think this could attract traders to the exchange as they expect. Have heard alot about their failing IEO than the free transaction fee

erikalui

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Quote from: adaseb on September 21, 2019, 10:52:09 PM

Poloniex sure brings back memories. I remember that during the crazy 2017 rally and where we were forced to pay $50 a transaction to get a transaction to confirm on the bitcoin network, Poloniex charged only 0.00010000 BTC for withdraws. So only about $1 and they were pretty much losing money on every withdraw because their withdraw engine used a fee as calculated by the network stats. So you were only charged $1 for the withdraw but they actually had to pay like $30-40 to process it.

Basically they were busy approving new accounts that they didn't have time to raise the fee until sometime at the end of the year. But I remember it was my favorate exchange because the withdraw fees were so low that you could do many withdraws and not have to worry about fees.

For Exmarkets, its most likely some promo that they are doing. Some exchanges and some casinos also do free withdraws. I think Gemini is also another exchange which doesn't charge for withdraws.

The thing here is Exmarkets doesn't require KYC while I guess Gemini does require it. Also, I agree the promotion is for a short time but till now I haven't traded on any exchange and paid zero fee and hence thought it was a glitch. I agree their trading fee is a bit high but it's OK for users trading lesser volume.

adaseb

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Quote from: erikalui on September 20, 2019, 12:36:01 PM

They all do charge a fee and the lowest was charged by Poloneix which now is useless as they keep delisting coins. No exchange can be trusted, even not Binance but this is a good start to see no withdrawal fee.

Poloniex sure brings back memories. I remember that during the crazy 2017 rally and where we were forced to pay $50 a transaction to get a transaction to confirm on the bitcoin network, Poloniex charged only 0.00010000 BTC for withdraws. So only about $1 and they were pretty much losing money on every withdraw because their withdraw engine used a fee as calculated by the network stats. So you were only charged $1 for the withdraw but they actually had to pay like $30-40 to process it.

Basically they were busy approving new accounts that they didn't have time to raise the fee until sometime at the end of the year. But I remember it was my favorate exchange because the withdraw fees were so low that you could do many withdraws and not have to worry about fees.

For Exmarkets, its most likely some promo that they are doing. Some exchanges and some casinos also do free withdraws. I think Gemini is also another exchange which doesn't charge for withdraws.

goinmerry

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Great feature indeed but one thing for sure, we have to expect that it will not last long. The best way to attract users better than nothing.

Want to try the exchange but even OP does have an experience using them, I still doubt using any new exchanges.

carlfebz2

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Quote from: erikalui on September 20, 2019, 06:02:00 AM

I recently joined Exmarkets exchange and couldn't trade much as the volume was low but when I chose to withdraw, the fee was set to 0 and I could withdraw my ETH without paying any fee. I checked that this was the same for BTC withdrawal also. Not sure about other coins but I was shocked that there was no withdrawal fee charged and no KYC required as well. They added their own fee which was enough for the transaction. Has anyone tried it?

Never traded up with this exchange.Zero fee is possible but wondering on how long they would able to last on offering such free service
knowing that fees would be taken off into their own wallet.If they do have low liquidity and im pretty sure that they wont make it too long.
These zero fees gimmicks are just part of initial marketing.So now as a user of that exchange then better get advantage while it still last.

jhenfelipe

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Quote from: erikalui on September 20, 2019, 07:42:32 AM

Quote from: jhenfelipe on September 20, 2019, 07:35:47 AM

I haven't tried the site, but they really are not collecting fees on ~~both~~ Withdrawal ~~and Trading~~. NO withdrawal fees ~~at all~~ + NO KYC for Crypto transactions. You should enjoy that now because I heard they will consider adding fees in the future

https://t.me/ExMarkets_Exchange/8465

Thanks for the link. It's really great to finally see an exchange that doesn't charge any fee even if it's for few months. Especially when exchanges are taking 0.0005-0.001 fee for even small transactions. Wish their trading volume increases so that it becomes feasible to trade there.

I've edited my post because I was mistaken, just saw now that they already have 0.1% - 0.12% trading fee. It's 0% before, but yeah it changed already.

Some exchanges that I used before have a fixed high fee, makes it unworthy to trade there. So still, their 0 withdrawal fee is good. There's a high competition, if they have a withdraw fee in the future, I wonder what would be their edge compared to other existing exchanges.

Pipdips

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Quote from: erikalui on September 20, 2019, 12:36:01 PM

Withdrawal fee is all that matters as these exchanges take a hefty fee and then use 10% of that amount which is why my transactions used to take 5+ hours for 1 confirmation.

This is particularly irksome for me. Exchanges typically do not really let you know how much it will cost to send coin out of their exchange until the client presses Send.

Also the exchanges should keep an actual tally of how much they have paid in fees throughout their trading at their exchanges. A few examples of this is could be: Fees Paid To Date, Fees Paid Past 1 Month, Fees Paid Past 1 Year. Instead, the exchange tends to just leave clients in the dark.

figmentofmyass

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Quote from: erikalui on September 20, 2019, 12:36:01 PM

Quote from: figmentofmyass on September 20, 2019, 12:12:06 PM

you're paying for it through higher trading commissions. they charge a flat 0.12% on each side of the trade. compare that to 0.1% at binance---0.075% with BNB. they might be running a temporary promo because i've seen reviews of them that list withdrawal fees.

Trading fee is charged by most and it's not that big even when compared to Binance. Withdrawal fee is all that matters as these exchanges take a hefty fee and then use 10% of that amount which is why my transactions used to take 5+ hours for 1 confirmation.

well let's do the math.

the difference of 0.02% on a 1 BTC volume trade = 0.0002 BTC lower on binance. if you paid fees in BNB, the commission is 0.00045 BTC lower. so you can nearly pay for binance's flat withdrawal fee with 1 BTC of trading volume.

so anyone who trades regularly or in significant amounts will end up paying more on exmarkets. especially because i bet this is just a temporary promo.

erikalui

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Quote from: Pipdips on September 20, 2019, 11:50:22 AM

I thought that they all charge a fee? Or the fee probably comes when the exchange decides to steal all your money. Cheesy

They all do charge a fee and the lowest was charged by Poloneix which now is useless as they keep delisting coins. No exchange can be trusted, even not Binance but this is a good start to see no withdrawal fee.

Quote from: figmentofmyass on September 20, 2019, 12:12:06 PM

you're paying for it through higher trading commissions. they charge a flat 0.12% on each side of the trade. compare that to 0.1% at binance---0.075% with BNB. they might be running a temporary promo because i've seen reviews of them that list withdrawal fees.

Trading fee is charged by most and it's not that big even when compared to Binance. Withdrawal fee is all that matters as these exchanges take a hefty fee and then use 10% of that amount which is why my transactions used to take 5+ hours for 1 confirmation.

figmentofmyass

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Quote from: erikalui on September 20, 2019, 06:02:00 AM

I recently joined Exmarkets exchange and couldn't trade much as the volume was low but when I chose to withdraw, the fee was set to 0 and I could withdraw my ETH without paying any fee. I checked that this was the same for BTC withdrawal also. Not sure about other coins but I was shocked that there was no withdrawal fee charged and no KYC required as well. They added their own fee which was enough for the transaction. Has anyone tried it?

you're paying for it through higher trading commissions. they charge a flat 0.12% on each side of the trade. compare that to 0.1% at binance---0.075% with BNB. they might be running a temporary promo because i've seen reviews of them that list withdrawal fees.

Pipdips

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I thought that they all charge a fee? Or the fee probably comes when the exchange decides to steal all your money. Cheesy

erikalui

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Quote from: LeGaulois on September 20, 2019, 06:33:08 AM

Because there are no fiats options I guess. That's the reason they're currently running fine without KYC. But once the site becomes big, they will implement it, like any others, do not worry... Grin

As for the withdrawals, it's probably because they send the transactions in batch. There are some exchanges doing this to avoid TX fees for users.
I remember Paymium was doing the same (and poloniex maybe too?)

Poloniex had a fee for withdrawals even though it was low, but there was a fee. Even sites like Etherdelta had fee applicable for every transaction while even if they send transactions in batches, they still need to pay network fee.

Quote from: jhenfelipe on September 20, 2019, 07:35:47 AM

I haven't tried the site, but they really are not collecting fees on both Withdrawal and Trading. NO fees at all + NO KYC for Crypto transactions. You should enjoy that now because I heard they will consider adding fees in the future

https://t.me/ExMarkets_Exchange/8465

Thanks for the link. It's really great to finally see an exchange that doesn't charge any fee even if it's for few months. Especially when exchanges are taking 0.0005-0.001 fee for even small transactions. Wish their trading volume increases so that it becomes feasible to trade there.

jhenfelipe

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Quote from: LeGaulois on September 20, 2019, 06:33:08 AM

Because there are no fiats options I guess. That's the reason they're currently running fine without KYC.

Actually there's FIAT and yes they require KYC for that.

Quote from: erikalui on September 20, 2019, 06:02:00 AM

Has anyone tried it?

I haven't tried the site, but they really are not collecting fees on ~~both~~ Withdrawal ~~and Trading.~~ NO withdrawal fees ~~at al~~l + NO KYC for Crypto transactions. You should enjoy that now because I heard they will consider adding fees in the future

https://t.me/ExMarkets_Exchange/8465

Edit: My mistake, just saw now that they already have 0.1% - 0.12% trading fee

LeGaulois

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Top Crypto Casino

Because there are no fiats options I guess. That's the reason they're currently running fine without KYC. But once the site becomes big, they will implement it, like any others, do not worry... Grin

As for the withdrawals, it's probably because they send the transactions in batch. There are some exchanges doing this to avoid TX fees for users.
I remember Paymium was doing the same (and poloniex maybe too?)

erikalui

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I recently joined Exmarkets exchange and couldn't trade much as the volume was low but when I chose to withdraw, the fee was set to 0 and I could withdraw my ETH without paying any fee. I checked that this was the same for BTC withdrawal also. Not sure about other coins but I was shocked that there was no withdrawal fee charged and no KYC required as well. They added their own fee which was enough for the transaction. Has anyone tried it?

Topic: Bitcoin exchange with no fee? (Read 278 times)