Bitcoin Forum

Hi, there! We are working on our platform on a crypto-exchange and want to ask about your opinion if there is any reason  in starting crypto-exchange without any fee for the first time to get the traffic of traders ?

Imho no-fee exchange may attract small traders while, for liquidity, you may need the big ones.
If you work without fees you may encourage fake trading, which is not recommended.
I would keep trading fees and would make small (or no) withdraw fees (for crypto).

I think people pay more attention to liquidity than fee. Even without fee, if there is no one do trade with you, it will be useless.

Some exchange did this before and I guess it's pretty effective just to get some traffic. It's like no fee for one month and that's enough to make some noise and get people to trade on your exchange.

You can also add some feature of referrals.

But after you get traffic and traders, learn to focus on some issues that has been found to the usual exchange.

I believe that the exchange without a minimum Commission simply can not exist. It's not logical, a priori. Exchanges must compete and improve the crypto market. We must introduce new and unique innovations that will significantly exceed the old analogues.

it may only take several months as a promotion.
I'm not sure, every transaction requires a fee and it can not be eliminated.
the greater the fee then the better trade traffic.
just my understanding, and I really appreciate my limitations.

there are many ways to promote a new exchange, if you make a free transaction fee, it has been done by many other exchange. need something different, like the Coinsuper exchange, he handed out free btc to the newly registered member, and it successfully made hight trading traffic  ;D ;D

I think that many people ready to pay a small commission for quality service, and fast technical support. If there is no commission, then what you have to save ?

Just let you know, if you are think your exchange will be the first one which don't have fees, you are wrong. There were many non-fee exchange sites before https://coinmarketcap.com/exchanges/volume/24-hour/no-fees/

The subsequent increase in the commission will scare users away.  Either leave it always zero and earn on investment in other projects, or make it not zero and give gifts. My opinion.

Service without commission is a great idea, I think. It is important that the quality of service is at the proper level. Personally, for me the highest priority is the speed of service. But I'm even willing to pay a commission, if only there were no delays.

Of course, if you are certain of the coin, you should buy more of these tokens. Now it's the most pleasant time for that. But you must understand that there can be no growth. YOU must decide.

Honestly I think fees have always been cryptocurrency's stronger side, so getting rid of it won't really do much. Just pick out an exchange that has a very low fee. I use Ethen  and they only charge 0.25% taker fee and only taker fee.

I always have doubts about the stock exchanges without a commission. Now there are a lot of them and everyone practices fake volumes passing past the order book

exchange without fee? I think there are rarely people who want to use it because they think this kind of exchange will not last long. especially if the free fee for withdrawal thats is impossible, as we all know, each coin has a fee for each transaction (blockchain fee), then where can you cover the costs? not to mention website maintenance costs. so exchange without fee thats is imposible

It is a good idea to have an exchange that has no fees require to make a transaction however I think it takes a short period of time or months to sustain this kind of exchange ecosystem. It is hard to maintain a good liquidity of any transactions without any other fees because it this kind of exchange become popular for all crypto traders maybe the liquidation of the transaction will becoming slow like a turtle movement because of the massive transaction waiting.

I will not support the fee free crypto-exchange because anything free is dangerious you will even pay more than what you are suppose to pay, i would rather advise you to introduce  attractive bonuses that will encourage referral, referral method will be better than free fee. How would you survive if the fee is not introduced.?

Instead of no fees I think below ideas you can use . (Free things can be abused so should be avoided)

1. Low fees on withdrawal or no fees on withdrawal.
2. Trading fees you can take competitive.
3. Fixed trading fees let say $5 for a day.

First 2 points will allow traffic from normal investor but third point will attract whales. They will be happy to trade, re trade their coins and token multiple times a day just paying a fixed fees it will be almost free for them.

in my opinion, this is a very interesting idea, and many should support it, because I did not find such an exchange for today, I would work with such exchanges ;D

Well, I don't think that people will not interested in the exchange without any fee, as people have mentioned above liquidity is very important here rather than a low fee. For this reason, I think you have to find a better strategy to make your service on top, you have to find something unique that other exchange doesn't have. Don't forget to run a campaign or referral competition, it will attract more people to join your site.

Many people complain about transaction fees. However, if there is such exchange site, it will break the principle from the very foundation that is born. I think not many people will care about this. Because the risk can be high or it is a trap.

It would not scare the contrary.Without a commission, this is certainly good, but there are many decisive factors.

Honestly I don't really know what is so attractive with 0 fee. Most traders are probably like me, we trade Maximum 10 or 20 times a month, and then there are months when we don't trade at all.

Fees are already low 0.1%. If we do 100 trades in a year, ok that's 10% already. But seriously how many of us make 100 trades a year and and what total volume?

Of course it makes sense to save as much as you can. But if you have to buy some digital token to get 0 fees. Or you have to suffer low liquidity, bad customer service. Trust me, it's so not worth it.

To those that don't understand the 0% trading fee, he's talking about it as part of their marketing and promotion. It would take a week or up to a month to have this type of promo and IIRC there's also an exchange that did this and its just a matter of days, that exchange gained a lot of traders.

It was launched early this first quarter of the year but I barely remember what's that exchange was.

For traders it is very convenient but I do not think it is beneficial for the developers of the exchange.

There only few exchanges that cost no fees and they are cobinhood, decentralized exchange and few other exchanges.

This is what I meant also in that it's not enough to attract people. 0 fee that lasts for a short while, even a few months, is not worth the time to move over funds into a new exchange, where the liquidity is not so high and coins are few. By the time coins are listed and liquidity is high, the 0 fee is over and then you end up with just the same costs as on another exchange.

So in the end, it's marketing, but can't be sustainable

Fee is not that big of a deal, this alone will not work as main attraction

It's hard to maintain this type of promo if the exchange gathered tons of traders and their volume is increasing. They are looking to their profits and they can't prevent the motion of their traders, it may not be worth to move most of your funds but if its a chance of doing so, trying is okay with.

But if ever there will be an exchange that will be charging no fees and they are sustaining their cost of operation through ads and donation. That exchange won't survive.

   Well it could be possible to do on the beginning of your exchange as your marketing strategy but this may also cause negative issue to others. Without trading fee is good but it sounds fake because you know people in cryptocurrency are already in used to fee trading fees in different exchanges.