03-25-2021, 12:39 PM
There is no such thing as 0 fees. They're scamming you.
<!-- SC_OFF --><div class="md"><p>Don't fall for exchanges advertising 0 fees. They're fucking you over in the following ways:</p> <ol> <li><p>By quoting you a worse price than the actual market price of a particular coin at the moment.</p></li> <li><p>By siphoning some of your money in the name of spread or price slippage.</p></li> <li><p>By not providing you with a crypto wallet. So you can't send your crypto to a private wallet or another exchange. Your coins are stuck. The only way out of the exchange is to sell, incur the hidden fees and capital gains tax.</p></li> <li><p>High deposit and withdrawal fees, even with a bank transfer.</p></li> <li><p>By selling your data.</p></li> </ol> <p>It's worth it to take some time to look up fee structure of an exchange, read the FAQs and reviews before making a sizeable purchase on an exchange. Those 0 fees end up costing you 1-2% in hidden fees or even more. While an exchange that is transparent about their fees only charges a fraction of that (0.1-0.2%).</p> <p>Avoid any exchange that advertises 0 fees or only gives you option for market order and not limit order. As a consumer you should be looking for more options at your disposal, more transparency and more control, not less.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/damittydam"> /u/damittydam </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mcm4c9/there_is_no_such_thing_as_0_fees_theyre_scamming/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mcm4c9/there_is_no_such_thing_as_0_fees_theyre_scamming/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Don't fall for exchanges advertising 0 fees. They're fucking you over in the following ways:</p> <ol> <li><p>By quoting you a worse price than the actual market price of a particular coin at the moment.</p></li> <li><p>By siphoning some of your money in the name of spread or price slippage.</p></li> <li><p>By not providing you with a crypto wallet. So you can't send your crypto to a private wallet or another exchange. Your coins are stuck. The only way out of the exchange is to sell, incur the hidden fees and capital gains tax.</p></li> <li><p>High deposit and withdrawal fees, even with a bank transfer.</p></li> <li><p>By selling your data.</p></li> </ol> <p>It's worth it to take some time to look up fee structure of an exchange, read the FAQs and reviews before making a sizeable purchase on an exchange. Those 0 fees end up costing you 1-2% in hidden fees or even more. While an exchange that is transparent about their fees only charges a fraction of that (0.1-0.2%).</p> <p>Avoid any exchange that advertises 0 fees or only gives you option for market order and not limit order. As a consumer you should be looking for more options at your disposal, more transparency and more control, not less.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/damittydam"> /u/damittydam </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mcm4c9/there_is_no_such_thing_as_0_fees_theyre_scamming/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mcm4c9/there_is_no_such_thing_as_0_fees_theyre_scamming/">[comments]</a></span>Kind Regards R