alani123
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Leading Crypto Sports Betting & Casino Platform
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December 14, 2019, 01:27:02 AM |
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I think that the profit margin might already be quite low for a new exchange. The need for employees grows while profits might never do. Many new small exchanges rely on listing bitcoins to earn profits but this is only a task with diminishing returns as the volumes dry up very soon. Many crypto exchanges in fact close down within their first year of operation... It's easier to open an exchange now with the white label solutions, but to make it innovative and capture insterest is still hard.
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Reatim
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Eloncoin.org - Mars, here we come!
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December 14, 2019, 01:41:34 AM |
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I think that the profit margin might already be quite low for a new exchange. The need for employees grows while profits might never do. Many new small exchanges rely on listing bitcoins to earn profits but this is only a task with diminishing returns as the volumes dry up very soon. Many crypto exchanges in fact close down within their first year of operation... It's easier to open an exchange now with the white label solutions, but to make it innovative and capture insterest is still hard.
there are some exchange that closes earlier because they entered scamming jobs ,or they are just created for a certain projects to mislead people and victimized investors. we have seen many of this in the past ,you can find an exchange exclusively operated for a certain ico token and after short time they will vanish together with the developer.so how can they be trusted? we need lower fees from exchange to attract users but in the end?its their reputation that will let them stay longer.
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Wintersoldier
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December 14, 2019, 05:37:35 AM |
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I think that the profit margin might already be quite low for a new exchange. The need for employees grows while profits might never do. Many new small exchanges rely on listing bitcoins to earn profits but this is only a task with diminishing returns as the volumes dry up very soon. Many crypto exchanges in fact close down within their first year of operation... It's easier to open an exchange now with the white label solutions, but to make it innovative and capture insterest is still hard.
What they can do to suffice this is to actually avoid hiring many support and limit their team based on the salary that they have available to offer. As well as choosing the best employees to do the job because a new emerging exchange should possess the characteristic of being efficient in their services and operation. Or else, if they miscalculated, then they will end up closing and stopping their operation without any profits. Because for us traders, what we want are exchanges that offer less transaction fees.
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TRONTON
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December 14, 2019, 11:18:06 AM |
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towards the end of the year many exchanges do that, also happens to exchanges in my country that offer zero fees for USDT transactions (5% reduced to 0%), everyone also understands if it's just a temporary marketing strategy.
There are no significant changes that apply permanently, the business side is still emphasized by increasing the attractiveness of services and periodic events, there is no significant difference and remains the same as digital banks.
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Beparanf
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December 14, 2019, 11:23:05 AM |
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I hate to say this but I have to; it is not about all about splashing the fees. Though I am a big advocate for lower transactions fee in exchange trading and all that but it's a pity that most exchange with lower fee has the worst service; they most likely use lower TX fee to attract customers. So as a user, you will come to realise that you need a good service after all more than lower fee.
Yes good support is way better if they can assist us in everything that we are doing in their exchanges. If there are issues that happened and if there are problems need to resolve fast and easily. This will make us realise that those fees are worth paying as they do their job rightfully.
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Joseph Knight
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December 14, 2019, 01:00:27 PM |
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I dont know. Fees trading are not that large, unless you trade alot all the time.
Withdrawal fees can be alot, to withdraw small amounts ... This should change.
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daarul50
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December 14, 2019, 01:50:56 PM |
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The article criticises Coinbase and praises Poloniex for having zero fees. The only problem with this: Coinbase is a solid exchange and Poloniex is crap. The move from Poloniex to have zero fees is similar to what Cryptsy did before they did a runner. Zero trading fees (to encourage volume) and high withdrawal fees (to discourage withdrawals and make a profit from those who do take their money out). It's not a good sign. You should always ask yourself how these exchanges make profits. Some are upfront by charging fees. Others are dodgier and are using your coins to trade while trying to discourage you from withdrawing. that is pretty much makes sense. could not agree more with you. there is a lot of problem with poloniex such as freezing user's account without valid reasons , a sudden maintenance, extremely poor support and manymore! that is why they have zero fee as they lack of professionalsm . better to have some fee in an exchange but gives you a security rather than zero fee but you will feel insecure the whole time. there is money , there is quality. don't blame if you get charged as it is for providing a better service , that's all.
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South Park
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December 16, 2019, 05:53:55 PM |
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The article is telling about the zero fees which was done by Poloniex. But thinking of the consequences if exchanges will allow this to happen, I only see a very small chance that it can.
I see an even smaller chance, as in *zero*. How do you think exchanges make their money? Plus I don't understand how anyone could possibly complain about trading fees on crypto exchanges, because they're all very low to begin with. If you had to complain about anything, it should be withdrawal fees. Those are usually much higher than what it costs an exchange to actually send your withdrawal out. Yes, in a perfect world it would be lovely if exchanges didn't charge anything to trade, but we don't live in a fantasy land like that. In my life I find many people that seem to have lost connection with the way the world works, the owners of those exchanges do not offer their platforms just because they want to help the spread of cryptocurrencies around the world, it is a business and like any other business they need to make money and in the case of exchanges the main way they have to earn money is by charging fees, and if you compare the fees that you're charged for each trade and you compare those fees to the stock market you'll find that the fees that we are paying are very low.
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milewilda
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December 16, 2019, 07:26:11 PM |
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The article criticises Coinbase and praises Poloniex for having zero fees. The only problem with this: Coinbase is a solid exchange and Poloniex is crap. The move from Poloniex to have zero fees is similar to what Cryptsy did before they did a runner. Zero trading fees (to encourage volume) and high withdrawal fees (to discourage withdrawals and make a profit from those who do take their money out). It's not a good sign. You should always ask yourself how these exchanges make profits. Some are upfront by charging fees. Others are dodgier and are using your coins to trade while trying to discourage you from withdrawing. that is pretty much makes sense. could not agree more with you. there is a lot of problem with poloniex such as freezing user's account without valid reasons , a sudden maintenance, extremely poor support and manymore! that is why they have zero fee as they lack of professionalsm . better to have some fee in an exchange but gives you a security rather than zero fee but you will feel insecure the whole time. there is money , there is quality. don't blame if you get charged as it is for providing a better service , that's all. Would prefer on this way and definitely choose it up rather than risking on using a service which you've known that have already some issues in the past upto present. Going back to the days where Poloniex is one of the top exchangers but suddenly they ranked down when Circle decide to buy it and get involved into account blocking and other service related which in result to that outcome.Now they're offering 0% fees? I highly doubt that this one wont buy out.
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alyssa85
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CryptoTalk.Org - Get Paid for every Post!
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December 17, 2019, 12:05:09 PM |
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I hate to say this but I have to; it is not about all about splashing the fees. Though I am a big advocate for lower transactions fee in exchange trading and all that but it's a pity that most exchange with lower fee has the worst service; they most likely use lower TX fee to attract customers. So as a user, you will come to realise that you need a good service after all more than lower fee.
Spot on. Also, good security on the exchanges costs money. It's no good demanding low fees, and then wailing when the exchange gets hacked and coins are lost, because they weren't making enough money to invest in hacker-proof security.
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