What do you mean with not answer? You can see our current assumptions in the token model quite clearly. That has a tx fee of 7.5% (including spread) for a transfer to crypto, which is a common market price compared to Coinbase and Kraken (if you add their hidden fees).
Btw we never answered a "when moon" question. Wink
Best regards,
Tobias.
No it is not clear, it is buiried under all kinds of figures, numbers infographics and feel good pumpy pumpy marketing, clouded by sockpuppet shill accounts on bitcoin talk and telegram.
I mean not answer as in, other questions answered and this one was not, as if it was not read. You know when you are asking for money how you typicaly answer questions, even if they have been answered before and if you want to quote the whitepepe documentation then you quote the exact page and paragraph since you are the one asking for money here. Only after asking the question again was it even approched, otherwise it would have been swept under the rug, ignored and the bounty, pumpy pumpy questions asked by the outsourced sockpuppet service would continue.
Now lets have a look at those "common market practice" numbers. Can you please breakdown how coinbase and kraken charge 7.5% , and that is not a tx fee, a tx fee is a fee on a blockchain transaction. You mean a trade fee I think. So you mean to tell me fees which are 0.2 - 0.5% plus spread is 7.5% ? Ok, lets have a look.
All prices taken from bitcoinwisdom.com orderbook display
Bitfinex BUY 11190 sell 11192 to sometimes a 10$ spread if you just watch the orderbook
7.5 % of 11190$ = 839,25 $ We dont know if there is a fee or spread when buying the tokens in order
to pay this 7.5% or a tx fee to transfer to the app. Lets just say that it is "free".
Bitfinex with a 10$ and the trade fees (hidden?) We will just use taker, which is the higher fee of 0.2%
0.2% of 11190$ = 22,38$ + 10$ spread =
32,38$ for 1 bitcoin vs. 7.5% = 839,25$ok great, bitfinex is offshore and made for trading, not for your average noob to buy crypto and
wait for moon in a savings app. Alright lets check out coinbase. 1.5% or 3.99% with credit card
The spread is large 11318$ Sell 10984$ Buy 334$ spread
Plus the trade fee 1.5% or 3.99% with Credit Card 169,77$ or 451,58$ ! with credit card
7.5% = 848,85$ Even if you add the spread 334$ and use a credit card 451,58$ (
785,58$) 7.5% is still more than
a small ammount higher.
Ok ok, maybe those are just the worst examples possible, lets try bitstamp, you can send a typical SEPA transaction to bitstamp and
they got there start in the EU.
Sell 11231$ buy 11225$ maybe sometimes a 10$ spread
They have a 0.25% trade fee , they also have a 0.5% deposit fee and a 0.09% withdraw fee
Lets just add all those up to 0,84% per trade, even though we wont withdraw or deposit each time
we can still use it just for this example. Again we are going to buy one bitcoin.
94,34$ fees plus the 10$ spread
104,34$ sounds like a lot right?
7.5% fees which is
" common market price compared to Coinbase and Kraken (if you add their hidden fees)"842,32$Im just trying to find the
" common market price compared to Coinbase and Kraken (if you add their hidden fees)"that is anywhere near 7.5% , maybe you can break down the hidden fees or whatever it is you see that gets to 7.5%.
Let us also keep in mind this is a "savings app" that charges 7.5% off the top................ per trade
