Topic: Why exchanges do not pay interest? - page 2. (Read 306 times)
You can only get interest when the bank sector works with the money you have deposited and they get profits. that is where they give you some percentage of it.I do not think exchanges do work with the deposited funds hence no interest to be given out.
THEY USE OUR MONEY TO TRADE FOR FREE!
they do do that but not because of what you saw in your address. that part is an automatic system of taking all the funds they receive and pool it together and make payments to everyone who makes a withdrawal. these transactions are either directly to other users who withdraw or they are going back to their cold storages.
and exchanges aren't banks to give you profit. they don't ask you to keep your money there, they are services that give you the opportunity to trade. it is like going to the grocery store and keeping a lot of money there so that you don't have to pay when you buy groceries then ask the manager to give you profit!
The exchange is not a bank, it will not give people interest!
Some exchanges will give money to the holders and give away free cryptocurrency!
The main purpose of them so much is to attract people!
Some exchanges will give money to the holders and give away free cryptocurrency!
The main purpose of them so much is to attract people!
You probably should have read the terms and conditions of the exchange you are talking about, if it's clearly stated in there that holding your funds in their exchange will make you eligible for interests then you can legally complain about this else there's no point expecting any form of interest. Exchanges do not operate as banks anyway, do not expect much!
There are no exchanges that pay interest for your cryptocurrency in today's market conditions and i don't think they need to pay as they are not similar to the banking services where people get interest on the annual or monthly basis. I think if there is anything serious about interest rates then you can expect the interest charge to be levied in upcoming months.
Well the money i have in a bank are on a termless deposit.
They are there for unlimited amount of time.
Yes, the interest is the smallest one compared to 6 months or 1 year term deposit.
But there is still an interest.
I'm not a financial guru, but I know that banks use
it's customer's money to do all type of investments,
loans and trading from which the bank is making a profit.
To pay you for giving them this opportunity,
they pay you an interest.
If we accept that crypto stored in an exchange for unlimited term,
then it is very logical that you should receive some % of
the exchange's profit. You are basicly funding the exchange.
Yes, banks charge you for keeping you account alive, which exchanges don't.
However banks have physical offices, a website, ATMs, they issue cards, they pay taxes
they have 24/7 support and they insure your money.
And still they pay you interest.
Exchanges have just a single website with a support and no interest.
Hey, maybe it's an idea for a new era crypto exchange
If someone likes my idea, I'll be happy to share the rest
of my toughts on this.
There are no exchanges that pay interest for your cryptocurrency in today's market conditions and i don't think they need to pay as they are not similar to the banking services where people get interest on the annual or monthly basis. I think if there is anything serious about interest rates then you can expect the interest charge to be levied in upcoming months.
if i have only an account, how come i can check the deposits and withdrawals
without even logging in it?
Why the coins are withdrawed several seconds after that?
without even logging in it?
Why the coins are withdrawed several seconds after that?
The exchange generates a unique address for you to deposit to. Once you have deposited, your account is creditted with that many coins, and then the coins are transferred from that unique address to the exchange's main storage wallets. Similarly if you pay fiat in to a bank, your account is creditted with that much money, and then the actual paper money is moved to the bank's main storage safe/vaults.
Most exchanges don't pay you any interest on the assets you transfer to your account and not all assets pay interest or a dividend to holders
If you're wanting to earn interest from investing in cryptocurrency it's best to manage your own portfolio
You're better off not keeping your assets on an exchange anyhow unless you're trading with them
If you're wanting to earn interest from investing in cryptocurrency it's best to manage your own portfolio
You're better off not keeping your assets on an exchange anyhow unless you're trading with them
Today I wanted to check my ETH amount in an exchange.
However, due to laziness to enter all the passwords and 2FA etc,
I decided to just check my exchange ETH address via ETH explorer.
I copied it and pasted in in an explorer and what I saw amazed me:
Balance: 0.00013284416 Ether
There should be atleast 2 ETH!
I checked the transactions below and saw that RIGHT after an incomming transaction happens,
another outgoing transaction empties my exchange wallet!
I logged in right away to the exchange and the coins were there!
Does anyone know, how come exchanges use our money for their own things
but they don't pay us interest? Or is there an exchange, which pays interest?
However, due to laziness to enter all the passwords and 2FA etc,
I decided to just check my exchange ETH address via ETH explorer.
I copied it and pasted in in an explorer and what I saw amazed me:
Balance: 0.00013284416 Ether
There should be atleast 2 ETH!
I checked the transactions below and saw that RIGHT after an incomming transaction happens,
another outgoing transaction empties my exchange wallet!
I logged in right away to the exchange and the coins were there!
Does anyone know, how come exchanges use our money for their own things
but they don't pay us interest? Or is there an exchange, which pays interest?
I have never experience anything like this. Maybe you did something wrong with it? Probably we should try to see anything we did before assuming anything that could ruin the name of crypto.
I think this is done in order to be able to quickly exchange without creating a queue. You exchange on the stock exchange just numbers. But when you want to withdraw your coins completely, then most likely they will give you from the address where your coins were written off. Moreover, I think this is done in order to store all the coins in a cold purse for safe (perhaps this is an erroneous opinion)
I think exchange is a platform for transacting crypto currency not for storing your crypto currency, where you can buy or sell coins anytime. You can keep your coins in your wallet but you cant buy or sell as quick as you can do it on exchange, there are few coins or platforms that offer some benefits of storing your coins on their wallet like NEO stored on certain wallets can accumulate NEO gas, you can also get benefit of forks or airdrops by storing your coins on wallets. On other-hand exchange provide you better options for trading like limit orders, where you can put your orders as per your choice. There are many ways to manage your crypto depending on how often you trade and how confident you are trading by yourself without any support.
Today I wanted to check my ETH amount in an exchange.
However, due to laziness to enter all the passwords and 2FA etc,
I decided to just check my exchange ETH address via ETH explorer.
I copied it and pasted in in an explorer and what I saw amazed me:
Balance: 0.00013284416 Ether
There should be atleast 2 ETH!
I checked the transactions below and saw that RIGHT after an incomming transaction happens,
another outgoing transaction empties my exchange wallet!
I logged in right away to the exchange and the coins were there!
Does anyone know, how come exchanges use our money for their own things
but they don't pay us interest? Or is there an exchange, which pays interest?
In cryptocurrency there is no tax collected for us,so we can transact gaining or losing withour taxation is this not enough for you to be thankful because were free from tax.However, due to laziness to enter all the passwords and 2FA etc,
I decided to just check my exchange ETH address via ETH explorer.
I copied it and pasted in in an explorer and what I saw amazed me:
Balance: 0.00013284416 Ether
There should be atleast 2 ETH!
I checked the transactions below and saw that RIGHT after an incomming transaction happens,
another outgoing transaction empties my exchange wallet!
I logged in right away to the exchange and the coins were there!
Does anyone know, how come exchanges use our money for their own things
but they don't pay us interest? Or is there an exchange, which pays interest?
So dont expect interest for the favor is only on both sides we have no tax,but we have no interests
Because the don't want to and didn't have to. they are not bank. Even in the conventional bank you have to deposit your money for enough time to get interest, otherwise it's gonna cost you because you have to pay administration fee every month.
if i have only an account, how come i can check the deposits and withdrawals
without even logging in it?
Why the coins are withdrawed several seconds after that?
I also have a bank account and i know that my money do not sit ina thick steel box.
They just withdraw it from a big pile they USE to make even more money,
for which they pay you interest.
So far nobody was able to tell me why exchanges use money without interest.
without even logging in it?
Why the coins are withdrawed several seconds after that?
I also have a bank account and i know that my money do not sit ina thick steel box.
They just withdraw it from a big pile they USE to make even more money,
for which they pay you interest.
So far nobody was able to tell me why exchanges use money without interest.
Today I wanted to check my ETH amount in an exchange.
However, due to laziness to enter all the passwords and 2FA etc,
I decided to just check my exchange ETH address via ETH explorer.
I copied it and pasted in in an explorer and what I saw amazed me:
Balance: 0.00013284416 Ether
There should be atleast 2 ETH!
I checked the transactions below and saw that RIGHT after an incomming transaction happens,
another outgoing transaction empties my exchange wallet!
I logged in right away to the exchange and the coins were there!
Does anyone know, how come exchanges use our money for their own things
but they don't pay us interest? Or is there an exchange, which pays interest?
However, due to laziness to enter all the passwords and 2FA etc,
I decided to just check my exchange ETH address via ETH explorer.
I copied it and pasted in in an explorer and what I saw amazed me:
Balance: 0.00013284416 Ether
There should be atleast 2 ETH!
I checked the transactions below and saw that RIGHT after an incomming transaction happens,
another outgoing transaction empties my exchange wallet!
I logged in right away to the exchange and the coins were there!
Does anyone know, how come exchanges use our money for their own things
but they don't pay us interest? Or is there an exchange, which pays interest?
You don't have a wallet at an exchange, you have an account. That address is a deposit address in the exchange's wallet. It works just like a bank. Your money is combined with everyone else's money.
I suspect you did not understand my point.
Let me try differently: THEY USE OUR MONEY TO TRADE FOR FREE!
Why normal banks PAY interest when they use your money,
but crypto exchanges don't?
Let me try differently: THEY USE OUR MONEY TO TRADE FOR FREE!
Why normal banks PAY interest when they use your money,
but crypto exchanges don't?
Cryptocurrency of choice drastically appreciates in value after purchase, your taxes won’t be affected until you sell if, even if you trade one coin for another denomination.
Today I wanted to check my ETH amount in an exchange.
However, due to laziness to enter all the passwords and 2FA etc,
I decided to just check my exchange ETH address via ETH explorer.
I copied it and pasted in in an explorer and what I saw amazed me:
Balance: 0.00013284416 Ether
There should be atleast 2 ETH!
I checked the transactions below and saw that RIGHT after an incomming transaction happens,
another outgoing transaction empties my exchange wallet!
I logged in right away to the exchange and the coins were there!
Does anyone know, how come exchanges use our money for their own things
but they don't pay us interest? Or is there an exchange, which pays interest?
However, due to laziness to enter all the passwords and 2FA etc,
I decided to just check my exchange ETH address via ETH explorer.
I copied it and pasted in in an explorer and what I saw amazed me:
Balance: 0.00013284416 Ether
There should be atleast 2 ETH!
I checked the transactions below and saw that RIGHT after an incomming transaction happens,
another outgoing transaction empties my exchange wallet!
I logged in right away to the exchange and the coins were there!
Does anyone know, how come exchanges use our money for their own things
but they don't pay us interest? Or is there an exchange, which pays interest?
Interest charges is for Banking Industry that's why many crypto currency built to people become convenient for processing through the help of new technology which is virtual digital system not to be suffered of so many charges like the said interest charges of bank.
Today I wanted to check my ETH amount in an exchange.
However, due to laziness to enter all the passwords and 2FA etc,
I decided to just check my exchange ETH address via ETH explorer.
I copied it and pasted in in an explorer and what I saw amazed me:
Balance: 0.00013284416 Ether
There should be atleast 2 ETH!
I checked the transactions below and saw that RIGHT after an incomming transaction happens,
another outgoing transaction empties my exchange wallet!
I logged in right away to the exchange and the coins were there!
Does anyone know, how come exchanges use our money for their own things
but they don't pay us interest? Or is there an exchange, which pays interest?
However, due to laziness to enter all the passwords and 2FA etc,
I decided to just check my exchange ETH address via ETH explorer.
I copied it and pasted in in an explorer and what I saw amazed me:
Balance: 0.00013284416 Ether
There should be atleast 2 ETH!
I checked the transactions below and saw that RIGHT after an incomming transaction happens,
another outgoing transaction empties my exchange wallet!
I logged in right away to the exchange and the coins were there!
Does anyone know, how come exchanges use our money for their own things
but they don't pay us interest? Or is there an exchange, which pays interest?
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