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> These are insane fees ripe for disruption. To think that coinbase started with a no-fee model: Coinbase will make money more like an exchange down the road,
by ignoramous 6y ago
> These are insane fees ripe for disruption.
To think that coinbase started with a no-fee model:
Coinbase will make money more like an exchange down the road, 0.5% to convert money into our out of bitcoin, but once you have your money in bitcoin there are no transaction fees (it mentions this on the homepage, but admittedly it's still a bit confusing)...
It would be much easier to just say "no fees" - this is simple and shows a clear benefit of using bitcoin. If you have to explain to people that "sometimes there are fees, but they are a lot lower, etc" it loses some of it's punch. Right now we can do zero fees and transactions still get confirmed. In the future we may be able to do it by eating the cost and have this be a cost of doing business, but that is a decision for later."
https://news.ycombinator.com/item?id=4206265 https://news.ycombinator.com/item?id=4206265
- beaner 6y agoYou're conflating things. When they say "transaction fees" here, they're referring to blockchain network fees (which they previously covered for users, before network congestion), not buy/sell fees, which they have always charged.
- mr_sturd 6y agoThough they used to take no fees from market makers.
- ericpauley 6y agoYep, the market maker fee was added after the beginning of 2018.
- beaner 6y agoTheir primary business has always been the brokerage, not the exchange, which came later. The brokerage has always charged fees for both buys and sells.