Circle.com says "no fees" but it looks like they mix 1% on top of their spot

[BayAreaCoins]

Circle spot price is currently $457... which is way higher than any other exchange or OKcoins average price indicator.

Sure seems like they mix their "fee" in their spot price and then hit real fees on top of debt/credit cards.

Has anyone seen Circles spot price near actual spot price?

[alyssa85]

Well if they're buying their BTC from other exchanges, they'll be incurring fees plus withdrawal charges - so they're probably giving their customers exactly what it cost them. So in a sense they're correct in that they arn't adding additional fees on top.

[OROBTC]

...

Circle has to make its money somehow.  About 1% or a hair more is what I have paid vs. "spot".

Currently Circle is the cheapest way for me to buy BTC, albeit in limited quantities.  My only other alternatives are a 9% or 14% BTC ATM, the hassle of trying to set up a meeting via localbitcoins, or risky CA$H for BTC by mail order.

They do limit you to $300 per week, but It looks like later on they might raise the weekly limit.

But, what I would really like is a way to buy BTC without all the bother of verification (etc.).

[Phildo]

I thought everyone knew that's what "no fees" meant in bitcoin land?

[European Central Bank]

Does anyone know where they get their coins from? Having to depend on an exchange seems a little risky for a wannabe major player.