Fees are necessary, but there are basic requirements in trading, such as trading volumes. I cannot use a platform with zero fees and have no trading volumes, the execution of the order will settle for a long time and thus miss the opportunity to make gains.
Also, when your trading volume is low, you need to execute the orders using "market order[1]," which is always expensive and you lose part of the profits if it does not achieve a loss.
Do not forget about security, support team response, KYC limitations, trading/login speed, all factored with fees that make the user use a particular platform.
Also, fees can be reduced if you have sufficient experience.
[1] Types of Orders | Investor.gov
Topic: Why there are no price war on exchanges! (Read 117 times)
Unfortunately crypto is a top heavy place. Which means that exchanges at the very top (think of top 10 cex) gets almost all of the users. Doesn't mean that other places have none, but most of those people are users from those top 10 exchanges that are there for a few things. This is why I believe that we should not be expecting too much from anything outside of top 10.
This results with those places basically not having any competition, they are each others' competition and this results with none of them taking the first step. If one place makes it too cheap, that place will get attacked by the others and lose their top 10 spot which is what they are afraid of.
This results with those places basically not having any competition, they are each others' competition and this results with none of them taking the first step. If one place makes it too cheap, that place will get attacked by the others and lose their top 10 spot which is what they are afraid of.
You can use FTX if you want cheap fees, the maker fees is only 0.02% and taker fees is 0.07% [1], if you're active trader and trade high amount money... the fees will reduced based on each tiers. Don't be greedy to choose random exchange and offer you 0% trading fees, you need to check the reputations first.
[1] https://help.ftx.com/hc/en-us/articles/360024479432-Fees
[1] https://help.ftx.com/hc/en-us/articles/360024479432-Fees
There are always price difference among exchanges but does it enough to help people get profit from difference by arbitrage trading or not, it is a different thing.
Transaction fees are different on exchanges as well as withdrawal fees. You can check it with https://withdrawalfees.com/
Type a coin or token you want to check, enter and get a list of withdrawal fees among available exchanges. Given fees are just standard fees because on exchanges, there are always VIP programs to give higher tier users less fees.
Transaction fees are different on exchanges as well as withdrawal fees. You can check it with https://withdrawalfees.com/
Type a coin or token you want to check, enter and get a list of withdrawal fees among available exchanges. Given fees are just standard fees because on exchanges, there are always VIP programs to give higher tier users less fees.
The TraFi world has been competing head to head for decades, dragging the fee rate for brokers down to even FREE.
But the fee rate of CoinBase is still high above 1% for retail users, even for Binance, the fee rate is above 0.1%, while the additional cost for one transaction is almost zero.
I am wondering why no star-up is messing up the market with price war, or those giants not wanting to beat Binance by lowering their rates.
Much sure that most platforms do really eyeing on beating up binance or any platform which is on the peak spot but most of them doesnt really care that much when it comes to those fees.But the fee rate of CoinBase is still high above 1% for retail users, even for Binance, the fee rate is above 0.1%, while the additional cost for one transaction is almost zero.
I am wondering why no star-up is messing up the market with price war, or those giants not wanting to beat Binance by lowering their rates.
Whether they are much bigger compared to it and Coinbase is one of example and just like what others been saying that these things are businesses and its true that they would impose
fee percentage whatever they do like whether they do make out some adjustments or not, it will really be just depending on them.
exchanges are a commercial activity and their goal is to make a profit.
Fees are part of this system, as the management of trading servers is expensive, so it will not be free.
Everything must also work properly, otherwise all the campaign money will be lost due to either slow response or hacking of the platform.
To avoid high fees, do the following:
Fees are part of this system, as the management of trading servers is expensive, so it will not be free.
Everything must also work properly, otherwise all the campaign money will be lost due to either slow response or hacking of the platform.
To avoid high fees, do the following:
- Withdraw using exchange with low bitcoin fees: https://withdrawalfees.com/coins/bitcoin
- Withdraw using cryptocurrencies with low fees: https://withdrawalfees.com/
- Withdrawing using a cheap blockchain, Layer2 chains and exchange tokens
- Buy VIP account/services which gives you free Withdraw
Simply put, if they further lower the fee rate regardless of the user's trading capacity, then they will go bankrupt. Their competition is no longer about lowering brokerage fees, but more about trading features (or the platform as a whole) so that users will feel at home and not withdraw their funds much from the exchange.
The TraFi world has been competing head to head for decades, dragging the fee rate for brokers down to even FREE.
But the fee rate of CoinBase is still high above 1% for retail users, even for Binance, the fee rate is above 0.1%, while the additional cost for one transaction is almost zero.
I am wondering why no star-up is messing up the market with price war, or those giants not wanting to beat Binance by lowering their rates.
No business can survive without profits since its cryptocurrency market everything is transparent so there is no hidden charges. And there are exchange being started and got success as well like Binance, FTX in very short time compared to coinbase and remaining just stole funds and ran away. But the fee rate of CoinBase is still high above 1% for retail users, even for Binance, the fee rate is above 0.1%, while the additional cost for one transaction is almost zero.
I am wondering why no star-up is messing up the market with price war, or those giants not wanting to beat Binance by lowering their rates.
There will always be fees. Brokers can have "free" transactions, but with far less spread/liquidity that in the end you're pretty much just paying potentially even a higher fee due to liquidity problems.
As for Coinbase — yea, no one is forced to use it, and they have Coinbase Pro.
As for Coinbase — yea, no one is forced to use it, and they have Coinbase Pro.
The TraFi world has been competing head to head for decades, dragging the fee rate for brokers down to even FREE.
But the fee rate of CoinBase is still high above 1% for retail users, even for Binance, the fee rate is above 0.1%, while the additional cost for one transaction is almost zero.
I am wondering why no star-up is messing up the market with price war, or those giants not wanting to beat Binance by lowering their rates.
But the fee rate of CoinBase is still high above 1% for retail users, even for Binance, the fee rate is above 0.1%, while the additional cost for one transaction is almost zero.
I am wondering why no star-up is messing up the market with price war, or those giants not wanting to beat Binance by lowering their rates.
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