Ethereum is already fast and low cost
Actually it is not true..
Investing in crypto-assets and traditional money transfers are always charged with additional fees.
Some brief examples:
The current
Forex market exchange rate where the leading banks and major players of the market exchanging their financial assets. This
«real» rate takes into account the demand and supply of money market participants, inflation, the level of interest rates in the countries of the world, and the monetary policy of their central banks.
For example, if the current direct market cross rate of the dollar to the euro is
1.165 usd = 1 euro, then by transferring usd through the largest US banks for the exchange rate offered to the client, the bank offered to the client will be about
1,19–1,195 usd for 1 euro. That is, the need to convert the currency leads to an additional loss of the client about
2–2.5% of the final amount in euros compared to the exchange rate.
According to a
World Bank study (Remittance Prices Worldwide / PRW for
June 2017), the weighted average costs for global money transactions (means fiat currency) are
5.57% of the transaction amount.
A similar situation has developed in the area of buying sales of crypto-currencies: most small and novice investors interested in investing in crypto-currency assets that do not have the status of a professional participant in this market and the necessary tools for exchange when buying or selling crypto currency and getting a currency are forced to pay for it a whole list of commissions in the aggregate reaches
5% -7% of the transaction amount.
To put it more simply, if the rate of the currently popular crypto currency
Ethereum on the
Bitfinex exchange is
220 usd = 1 eth, then in actual fact the investor will spend u
sd 231–235 for 1 eth.
#Transmission system service fee are incredibly low: no more than
1% of the transaction amount.
How we can decrease costs for our service users?
For more details You can read our research article on
Medium
