💱 Do Exchanges Still Take To Much Off The Top?
South Koreas exchange Upbit just declared they made $648 million dollars in revenues in 2017. This to me sounds just way to freakin high and is why I still believe we need a decentralized exchange that perhaps runs on its own block chain.
These exchanges have no fee costs to them when trading between one crypto to the other its all done internal on their systems and never hits the block chain till you cash out. Guess what when you cash out you pay that fee as well.
So the real question here is why these exchanges are still over charging us for using them and perhaps some new ones will soon launch.
Yes there are operational costs and servers and staff but do you think it added up nearly to the millions this exchange and other exchanges are getting?
Perhaps sheading the light on this will pave a way for even lower fees, more robust security and an overall better trading and exchange platform.
The great part of the exchanges obtain enormous income, all mainly by the transaction commissions. I agree with you, it is time to decentralize these sites to grant greater transparency to transactions with cryptocurrencies.
Because there are many people who can not change their few bitcoins for high commissions. Let's say I have 0.00052 BTC and I want to change it. How am I going to do it if the commission is 0.00100 BTC??
These are things that must be taken into account, and with the call for attention that was made to Bitfinex it is time for others to take note and begin to improve their platforms so that the client has a satisfactory experience.
Well said, I can't agree to less. I salute your reasoning
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Wow @bitcoinflood! That's an insanely huge amount of money. Must be nice to be able to make that much money but I agree they're fees are way too high. Follow me @relsserd. I write about cryptocurrency.
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Upvote resteem and comment done @bitcoinflood
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Upvote & Resteem has done.
Yes, These are things that must be taken into account, and with the call for attention that was made to bit fines it is time for others to take note and begin to improve their platforms so that the client has a satisfactory experience.
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.Nice post keep it up sir