You are viewing a single comment's thread from:
RE: Technical Review of a CryptoCurrency Exchange - OpenLedger.info
Im a bit torn on this exchangs i want to buy a coin only available on open ledger but i dont like the fact it says its backed by btc or whatever and used in their own currency it reminds me of paper gold
@ladram - its all still stock exchange and banking just presented in a different way and in the end of the day, its not cheap (comissions and fees) and worst part you still ending up holding cash (usd, eur, gbp, etc), so by my opinion, Paying 7% in converting local value to btc/bts then buying steem and spinning it more paying another 7% when i want it out seems not so profitable. You end up paying 14% just on in and out, plus exchange fees based on stock value of currency being changed...
Hope i havent dissapointed much with my answer :)
Cheers
Luci