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You say you don't collect transaction fees, but that you make a small amount of money off the spread. I'm confused, whats the difference between these two?
by kart23 6y ago
You say you don't collect transaction fees, but that you make a small amount of money off the spread. I'm confused, whats the difference between these two?
- jonpaul 6y agoBy "transactions fees", that's meant as a fee to the network. We don't make money off of that. We make money in the spread when you exchange.
- mandelbrotwurst 6y agoSo you are collecting transaction fees, just none of one particular type of transaction fee.
- arcticbull 6y agoSo by that logic, the airport Travelex that charges "no commission" but a 20% spread between the bid and the ask is also not charging transaction fees? I suspect cribbing from Travelex and calling it "no commission" is likely both more accurate, and probably more legal, but IANAL.