Topic: How do Online Wallets Survive ?? - page 5. (Read 4380 times)
There might also be a hidden agenda behind this, as we have seen with other companies coming into this environment and supporting Bitcoin and once they acquired enough users they shift to a fiat based business model and only supporting Bitcoin as a hidden feature. The free or cheap fees are funded by the secondary features on the exchange or extra services side. You get cross subsidizing from one service to another, and remember the Blockchain transactions are only done, once you go on-chain and then a trasaction fee are charged. ^hmmmmm^
Those who do not charge transaction fees, they mainly earn from the advertising revenue and also from the bitcoin exchange. Good amount of traffic can turn in to a very very good income.
If you want to buy bitcoin using xapo or coinbase, you will have to pay a currency exchange fees. That goes to their income.
If you want to buy bitcoin using xapo or coinbase, you will have to pay a currency exchange fees. That goes to their income.
They survive just the same way companies offering free email services. Their idea is to have a large audience interested in a precise subject. When you have that, you'll see opportunities to monetize your website, by selling services or acting like exchanges. I don't think companies behind online wallets are making big money right now, but they have a future, as less and less people will download the whole blockchain, which is getting too big.
The companies running web wallets charge fees when converting from Bitcoin to local currencies and for premium accounts with more features. Some of them offer Bitcoin debit cards which net them even more profit in fees tied to the cards.
These usually take the fee and subtract it from the transaction value at least blockchain.info does that, If a wallet doesn't then I think it's suspicious even in itself, Since they all pay fees to the network to complete the transaction and are supposedly not using your funds in some investments or projects.
There are many online wallets like Xapo and Coinbase that do not charge any transaction fees or they pay that fees by themselves. I want to know that how would they profit from paying for their user's transaction fees ?
If no fees is charged then the transaction take a much long time or even might get cancelled !
If no fees is charged then the transaction take a much long time or even might get cancelled !
Ones like blockchain.info make money from ads though it wouldn't surprise me if they start charging fees at some point in the future. They've had big investments from companies so they'll probably start wanting to see their money back at some point and its got to come from somewhere.
Xapo and Coinbase are also exchanges, and they provide other services as debit cards.
Free transactions only between their users, if you send to outside their system you will pay a fee.
Wallets like Blockchain.info rely on publicity, and you are the one setting the fee, you have full control.
Free transactions only between their users, if you send to outside their system you will pay a fee.
Wallets like Blockchain.info rely on publicity, and you are the one setting the fee, you have full control.
You have incorrect information .Online Wallets charge users for every transaction they make.You can't even set a custom transaction fees unlike core in most of the cases .Maybe you never noticed because the amount is next to negligible which won't bother you.Online Wallets don't pay your transaction fees,you do.They charge you more than Core by providing an assurity to have your transactions confirmed on High/Medium priority.
because of bitcoin online wallets are able to survive. i predict that when bitcoin dies out that the wallets will go to as they depend on the internet currency
only by advertisement
a wallet like blockchain.info has two big ads on the bottom of the searches. and also a lot of small ads linking to sites like purse.io in the wallet page.
Blockchain.info does charge a fee for each transaction.The income from ads is additional for them and given the cost of running a wallet,I think it is fair they charge a fee a wallet like blockchain.info has two big ads on the bottom of the searches. and also a lot of small ads linking to sites like purse.io in the wallet page.
online wallets are for suckers.
True that. Maybe its just bait to get them suckers in.
And they also pool transactions, since they don't provide you private keys, they pool all the transactions made in a while and send them together.
I think they are survive because they are can accept to buy bitcoin to their website like on coinbase you can buy bitcoin there using your bank account also in xapo they are offering debit card that can deposit money to buy bitcoins.. 10k satoshi is not high to pay for the fee for every transaction..
online wallets are for suckers.
I think some online wallets earn money from open source projects and ads..
Android bitcoin wallet earns money from donations... blockchain.info earns from funds...
Posted From bitcointalk.org Android App
Android bitcoin wallet earns money from donations... blockchain.info earns from funds...
Posted From bitcointalk.org Android App
Besides exchange fees, I think they charge you a fee if you are registered as a company using their services in your business transactions.
There are many online wallets like Xapo and Coinbase that do not charge any transaction fees or they pay that fees by themselves. I want to know that how would they profit from paying for their user's transaction fees ?
If no fees is charged then the transaction take a much long time or even might get cancelled !
If no fees is charged then the transaction take a much long time or even might get cancelled !
Exchanges like coinbase make money from the buy, sell, and exchange fees. They can offer no fee transactions because of this.
There are many online wallets like Xapo and Coinbase that do not charge any transaction fees or they pay that fees by themselves. I want to know that how would they profit from paying for their user's transaction fees ?
If no fees is charged then the transaction take a much long time or even might get cancelled !
If no fees is charged then the transaction take a much long time or even might get cancelled !
The fees on the Xapo pre-paid card are quite hefty. Don't know what it's like on the Coinbase card, but I imagine they charge. Plus Coinbase is linked to the Coinbase exchange, and they make money there through trading fees.
Online wallets are mostly preferred by people doing many transactions in a day... Becuase they are mobile and easy to use....
ANd in Bitcoin world , there are a whole lot of such people so yes easily..
ANd in Bitcoin world , there are a whole lot of such people so yes easily..
I think their income is from ads, I agree with people here. Ads on online wallet must be very expensive imo, because many people will see it when open their wallet.
If you keep your money in Bank account then it is normal that Banks are using your money and conducting all kinds or manipulation with it.
They use it to invest, use it to finance their loans business. With bitcoin wallet you can't really touch money of users, because it will shot on blockchain.
I guess the only way is to have other services beside wallet available and ads on their site.
They use it to invest, use it to finance their loans business. With bitcoin wallet you can't really touch money of users, because it will shot on blockchain.
I guess the only way is to have other services beside wallet available and ads on their site.
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