What is the appeal of this when the rates are so high? The fees on most exchanges are in the .4%-.6% range for low volume. If I tried to run an exchange and had

What is the appeal of this when the rates are so high? The fees on most exchanges are in the .4%-.6% range for low volume. If I tried to run an exchange and had to pay a 3rd party 1% of all transactions, I'd be running at a loss. Furthermore, you can pretty much already do this by buying/selling on localbitcoins.com[1]. They provide an online wallet, escrow service, and also charge a 1%, but they don't charge a monthly fee. [1] https://localbitcoins.com/cash_exchange_howto https://localbitcoins.com/cash_exchange_howto