Topic: Why do we always have to pay fee? - page 3. (Read 952 times)
So you expect where you funds are kept to be free so your funds can be stolen by those hacker, I see the the fee as necessary thing that need to be collected because the service render will be optimized and security need to be in place for your funds to be save and you are here saying if they are scamming you , they are not running charity organization.
The payment is more or less like the bank charges which you pay when using banking services or the fees you pay for forex trading. The charges you pay when trading on exchange is jot hidden. It is stated in the exchanges terms and conditions. We're just too lazy to read them.
Normally, there is no transaction without fee attached to it. Although, there are certain exchanges that only charge on withdrawal and exclude trading fee. While some have reduced fee upon trading and withdrawal. No fee should be charged on deposit.
If someone is providing you any service, they have to charge you for that to get some(?) profit out of it.
However I have observed that buying crypto with credit card is too much costly.
However I have observed that buying crypto with credit card is too much costly.
anyone can tell me which exchange don't collect fees for any transaction?
i think there are because there are also wallets that dont have fees when sending on the user that is using a simillar wallet as you . they can earn thru ads and they are using those funds to shoulder their costumers fees .all i know is some exchange have their token and by using it you will pay half of the fee.
your right . thats the popular feature that an exchange have thesedays . some of them are kuckoin and binance , also nexybit . having thier token can give you discounts .the reason why need to pay is because miners are also doing thier job to process our transaction , simillar to employees that are working for money .
anyone can tell me which exchange don't collect fees for any transaction?
all i know is some exchange have their token and by using it you will pay half of the fee.
Does any exchange exist now for free fees? thanks in advance!
all i know is some exchange have their token and by using it you will pay half of the fee.
Does any exchange exist now for free fees? thanks in advance!
When transferring coins, you pay a fee to miners. Every time while a miner trying to find a block he wants to take the reward. The reward includes your fee and a few from other people. Exchanges take a fee coz it is beneficial for them. I can’t even imagine how much top exchanges earn on commission fees per day.
Just like the local commodities we are buying in our daily life, there is always a tax on a product.
In cryptocurrency transactions fees are required to maintain the speed and transactions good.
How can an exchange continue the transactions if they will make it free?
This is just a minimal cost only for the better community.
In cryptocurrency transactions fees are required to maintain the speed and transactions good.
How can an exchange continue the transactions if they will make it free?
This is just a minimal cost only for the better community.
I've noticed that everytime I make any transaction I have to pay fees. why users have to pay their money? for example, I use changelly and it's found out that I pay them 0,25% fee. Is that normal or they steal from me?
This is normal. If this is a problem for you, then you need to first study the theory of how blockchain and transactions work in cryptocurrency networks.
I've noticed that everytime I make any transaction I have to pay fees. why users have to pay their money? for example, I use changelly and it's found out that I pay them 0,25% fee. Is that normal or they steal from me?
There is always network fee on every transaction that you make and the amount being deducted depends on the coin network you are on. I guess you are talking off Bitcoin network fee here, and this is what it has been like from the beginning, but you probably noticed this one because you paid high during network surge and that is when bitcoin fee is usually high, but on a normal day when the network fee is not high, you may have not probably feel it that much. So, it is not called stealing, it is called service charge, if you are not comfortable with it, we have so many altcoins that you can use for your transactions also tat charges low fee, I also learnt that we have some altcoins that have zero fee, I have not used any of them though and I don’t know how true and how reliable that those coins are.
You actually pay fees because it's needed by miners to confirm transactions and also for running of platforms, exchanges for instance get their revenue from fees too. Well I've done a couple of transactions on NEO tracker site without fees, but when using exchanges (like you mentioned changelly), fees are required, I already explained why.
Yeah, all centralized exchange have fees in every single transaction. And that uses for payment to their employees, profit for CEO, paying security for site, domain or etc. So, don't worry if exchange ask you for fee, that not mean they stealing your coin.
Transactions fees applies to a wide variety of services including crypto.
Is the fees too high? Yes
The very reason for this high fees, is because they can get away with it. Due to the nature of Bitcoin, everyone is used to see high fees, whenever they send and recieve BTC. Hopefully Lightning transactions will change the way people look at this fee model being forced down on us.
As soon as Stakenet (who's leading the development and innovation on Lightning) releases their multi currency wallet with inbuilt 1-click lightning swaps, you'll be able to trade and exchange your coins for a FRACTION of that. The coin you transact with needs to be lightning compatible though, however more and more coins is implementing it, USDT for instance has announced they'll integrate it, making it possible to tether up inside your own wallet in seconds.
Is the fees too high? Yes
The very reason for this high fees, is because they can get away with it. Due to the nature of Bitcoin, everyone is used to see high fees, whenever they send and recieve BTC. Hopefully Lightning transactions will change the way people look at this fee model being forced down on us.
As soon as Stakenet (who's leading the development and innovation on Lightning) releases their multi currency wallet with inbuilt 1-click lightning swaps, you'll be able to trade and exchange your coins for a FRACTION of that. The coin you transact with needs to be lightning compatible though, however more and more coins is implementing it, USDT for instance has announced they'll integrate it, making it possible to tether up inside your own wallet in seconds.
it is natural when a platform provides good facilities. I don't think it's heavy if it's 0.25%. they also provide a platform using fees so they take advantage of their platform.
Nothing is free. You need to pay because the exchange and application need money to maintain operation and security. I have not seen any exchanges currently that do not apply exchange fees
It is normal, fees are always available on all exchange platforms. If you use one of the exchange platforms to trade, that means you agree to the fees that apply from the exchange.
It can also be based on the platform you're in, some wallets and websites offer bigger or lower fees based on the cost of their services, they need it to sustain the needs of the company to keep on operating and to earn the profit. Price also varies per coin.
I don't think we have to complain much since most of the fees are reasonable enough for the benefits and convenience we can get from it.
I don't think we have to complain much since most of the fees are reasonable enough for the benefits and convenience we can get from it.
Without fees, a system can't sustain itself. It will go into oblivion. The fee of changelly should be their standard exchange rate, a friend use to tell our group members that ever exchange is very cheap, never try it before I am careful of what I am not use to, don't want my money to hang.
how then do those projects for which have no commissions in their network, or the commissions very low, support themselves? if the system could not exist without commissions then such projects would also not exist, but they existthey can make money from ads on their websites
Without fees, a system can't sustain itself. It will go into oblivion. The fee of changelly should be their standard exchange rate, a friend use to tell our group members that ever exchange is very cheap, never try it before I am careful of what I am not use to, don't want my money to hang.
how then do those projects for which have no commissions in their network, or the commissions very low, support themselves? if the system could not exist without commissions then such projects would also not exist, but they exist
Well that is because fees go a long way in ensuring that services are maintained and continuously up to standard whenever you want to make transactions. These platforms may be automated but there are still programmers working at the backend to ensure everything goes smoothly ☺️
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