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From [this page](https://www.bitprime.co.nz/how-it-works/#fees https://www.bitprime.co.nz/how-it-works/#fees ): > Our fee structure is different to that of a b
by _Nat_ 4y ago
From [this page](https://www.bitprime.co.nz/how-it-works/#fees https://www.bitprime.co.nz/how-it-works/#fees ):
> Our fee structure is different to that of a brokerage or exchange. As a retailer, our expenses are generally higher than a sole crypto trader’s.
So apparently not an "exchange platform", but rather a "retailer".
Presumably they're trying to cater to less-technical folks who'd pay extra for the convenience/ease.
> What you see is what you get! Our advertised rates include ALL fees, and the price agreed upon at the time of purchase is fixed regardless of what happens in the market. Our fees appear slightly higher than exchanges because we have done all the hard work for you – with education and support to help get you started, and no need for you to deal with multiple exchanges or currency conversions.
- Nursie 4y agoYeah, as a retailer their business is far more at risk from market fluctuations I guess. They can ride high in the bull market but a drop in asset price puts everything at risk. OK, well that does explain things more neatly.
- koolba 4y agoSounds like a market maker. In traditional finance the market maker hedges their large liquidity position through options to limit any risk from wild fluctuations in either direction. In defi, I guess they just hodl and then go bankrupt.
- archi42 4y agoI like the analogy/idea, or more precisely find it amusing. But this company doesn't have the necessary liquidity. Plus I am not sure if there can be a real market maker given the transaction volume and volatility of BTC: In the past the daily transaction volume was in the 3 to 8 * 10^9 [billion] US$ range[1], which is massive. And the volatility isn't exactly famously tame either. For comparison, that company self-reports to have moved a mere 92 million in 5 years. That's like someone with a 500k to 700k portfolio doing 1M worth of transactions in 5 years (should be reasonable?) trying to be market maker for Tesla. [1] https://www.blockchain.com/charts/estimated-transaction-volume-usd https://www.blockchain.com/charts/estimated-transaction-volu...