Dansamiv
Newbie
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Activity: 224
Merit: 0
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August 31, 2018, 05:21:39 AM |
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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.
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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Valeri4
Member
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Activity: 131
Merit: 10
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August 31, 2018, 09:13:14 AM |
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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 ?
It would not scare the contrary.Without a commission, this is certainly good, but there are many decisive factors. |
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slaman29
Legendary
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Activity: 2646
Merit: 1212
Livecasino, 20% cashback, no fuss payouts.
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August 31, 2018, 09:14:22 AM |
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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.
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livingfree
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August 31, 2018, 09:24:08 AM |
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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.
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vladdracula06660
Newbie
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Activity: 40
Merit: 0
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August 31, 2018, 02:12:46 PM |
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For traders it is very convenient but I do not think it is beneficial for the developers of the exchange.
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smartsan
Member
Offline
Activity: 196
Merit: 10
Spokkz ICO
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August 31, 2018, 02:47:01 PM |
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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 ?
There only few exchanges that cost no fees and they are cobinhood, decentralized exchange and few other exchanges. |
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slaman29
Legendary
Offline
Activity: 2646
Merit: 1212
Livecasino, 20% cashback, no fuss payouts.
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September 01, 2018, 08:31:38 AM |
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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.
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 |
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Gulaa1885
Newbie
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Activity: 60
Merit: 0
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September 01, 2018, 09:42:54 AM |
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Fee is not that big of a deal, this alone will not work as main attraction
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livingfree
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September 01, 2018, 09:55:08 PM |
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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.
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 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. |
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Heart18
Jr. Member
Offline
Activity: 210
Merit: 2
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September 01, 2018, 10:14:12 PM |
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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 ?
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. |
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