Pros and cons of commission-free withdrawal

Oilacris

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Quote from: Zemomtum on July 13, 2019, 08:56:36 AM

Digitex with all their promises even failed to launch successfully. Most of the times, freebie are costly as all these promises of commission free are not sustainable. However, if any project is able to achieve this, it will be reckoned with in crypto exchange circle.

No one would achieve this stuff yet we know that exchanges are businesses being built by its owners and its impossible for a business to sustain ifthere were no fees to be deducted or collected.

They might able to offer it but this is only good for temporal basis but talking about forever?It wont really fit out because if they do push this thing they would soon realize that they are operating just for paying up the expense or maintenance/staff on the said exchange.

Zemomtum

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Digitex with all their promises even failed to launch successfully. Most of the times, freebie are costly as all these promises of commission free are not sustainable. However, if any project is able to achieve this, it will be reckoned with in crypto exchange circle.

nightways

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Quote from: iTradeBit on November 05, 2018, 09:28:16 AM

Hi everyone! I've heard of building a commission-free crypto exchange Digitex. The question is: how attractive it is for you? Are there any pitfalls in commission-free withdrawal, in your opinion?

The thing is you’re going to be able to run this commission free exchange, cause it wouldn’t be easy for you doing this for free. There will be lots of things you will have to do and without money you wouldn’t be able to do it, unless you’re very rich and you want to be doing this for free and be spending the money from your pocket and using another source of income to make up for it, that will be up to you. I have seen one exchange that is similar to what you want to do, and that’s Cobinhood, but I think there is a particular they charge, can’t remember what it is though, maybe you check it out.

shield132

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Quote from: iTradeBit on November 05, 2018, 09:28:16 AM

Hi everyone! I've heard of building a commission-free crypto exchange Digitex. The question is: how attractive it is for you? Are there any pitfalls in commission-free withdrawal, in your opinion?

I think it will be better to move this thread in project development section.
Of course it's attractive, as much bucks will be saved from my pocket, better for my wealth but it's another task how will exchanges be able to handle it. For example xapo had zero commision on sending bitcoins to other wallets but they changed it and set fees because couldn't handle it. Pros is that you'll attract peoplr who usually wants to save money but cons are that you can't handle it on long term and will have to set fees, which will cause lose of significant amount of customers of your service.

batang_bitcoin

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Quote from: ?? on ??

and on the long run they might be stucked without any funds to keep the exchange running

And they will be forced to implement with fees as soon as they've understand that they are bound to stop their operation. Theses so called 'commission free' exchanges are very attractive but if you are thinking outside the box, you will understand on how they will keep on running if they don't have fees. Most of the good exchanges does even have fees, low fees to sustain their exchange, employees, hosting, maintenance, security, etc.

iTradeBit

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Hi everyone! I've heard of building a commission-free crypto exchange Digitex. The question is: how attractive it is for you? Are there any pitfalls in commission-free withdrawal, in your opinion?

Topic: Pros and cons of commission-free withdrawal (Read 198 times)