Topic: How do no fee exchanges make money - page 2. (Read 3222 times)

I always assume Run Away with the Coins^TM is the plan when there are no fees.  I was actually glad when coinedup added fees, only to mostly close like a month later.

Businesses have costs and have to meet them somehow.  Though I agree with the posters who talk about other fees, e.g. withdrawal or advertising.  In short, if you are not paying a fee you are not the customer, you are a product.

BTC-China has 0 fees like for a year or so

It's impossible for an exchange to profit without implementing service fees to the users who use their service. Maybe there are fees, though not transaction fees that we are used to. Withdrawal fees must be present in there. I doubt that it will be feasible for them to continue such a service, unless there are some things going on in the background that most of know nothing about. :O

today it's better, about 5-6 seconds to load market + orderbook

do you anything about if they plan to make advanced orders like stops available?

You should contact support to report the case. The site is accessed very fast in China. I think you can use VPN with China server to resolve to your problem.

Providing loans to users for leverage trading as well

If they did this then they would have exchange rate risk because they would lose money in the event that bitcoin would increase in value verses what they sold the coins for.

I think that any exchange that does not charge any kind of trading fee is almost certain to be scamming in some way and customers will almost certainly end up loosing money.

Maybe the exchange converts a certain portion of Bitcoin into Fiat, this way they can use it for investment purposes... heck, Coinapult's LOCKS system is based on a similar concept.

But the only way we can know is to start a run on the exchange, but who'd want to do that?

all trading is in 4 decimal places only. so no i cant trade those other digits. when i withdrew the full amount, i didn't get those rightmost digits too. so it means they take that amount for themselves when they deposit.  also they take  0.0001 "network fee" for withdrawals.

still better than bter where coins used to just disappear.

BitVc page is solw as hell. why??

and when does it get advanced order types like stop-loss?

A new competitor with deep pockets could still undercut them.

They don't have to cut wool after their competitors are dead.

They can raise the fee slightly but keep it low enough to stop new competitor from entering the same business.

This is very true. But it is even more so when you are entrusting your money to someone that is offering a deal that is really too good to be true. What they are in effect doing is providing a service for free while having no way to support the cost of their operations.

They let you nicely put your deposits there, then after a while they run with your deposits.

Maybe thanks to adviertisements.

Did you try trading those? Are you able to trade all 0.000523 or just 0.0005 BTC?

There's obvisouly a problem there something is coming out right or correct. I'd check up on the end results of everything before hand

killing all opponent with free fee, and then cut wool form users

"BitVc is a new trading platform which allows margin trading of Bitcoin and Litecoin. Like Huobi, there will be zero trading or withdrawal fees. BitVc is based on Huobi's API and will support BTC/LTC derivatives and financial instruments. Bitvc will be focused on margin trading, derivatives, and other financial instruments, while Huobi will continue to be mainly a spot trading platform. The API will be opened later for other developers to create applications on it. BitVc was created by the people behind Huobi, which has an impeccable security and performance record.

BitVc will feature a new product/service called Yubibao, which is an interest-bearing BTC/LTC account within BitVc. You can move your BTC/LTC into your Yubibao and withdraw into your normal account instantly and at any time. Yubibao gives risk-averse people a safe, easy way to put their coins to work for profit. Interest will be derived from traders who borrow to trade on margin. BitVc pools all the deposits in Yubibao and offers the same market rate to savers.

BitVc is currently in invitation-only mode, but you can send me a message if you want an invitation code. Your feedback would be much appreciated."

https://www.bitvc.com/

http://newsbtc.com/2014/06/16/chinese-bitcoin-exchange-huobi-launch-virtual-currency-based-derivatives-platform-bitvc/"

Source: http://www.reddit.com/r/BitcoinMarkets/comments/28u7w2/bitvc_a_new_trading_platform_from_huobi/

It was posted by Huobi so i doubt it's an scam, it's just their another exchange and you probably don't have to worry about scamming guys

Well to be honest you should always worry about your bitcoins on someone else's private keys....always. Never store your bitcoins in any wallet but your own, otherwise you run the risk of getting "goxed" whether they intentionally run with  your bitcoins or they get hacked and they are gone.

Put coins/money on the exchange -> execute the desired exchange -> send coins back to your personal wallet. Even if you're a day trader, at the end of every day I'd still move all the coins off the exchange....as far as fiat goes, well that would be stuck until you execute another buy order.