Oh dreamy freedom! Commissions are probably one of the most annoying things about life. How many times do you have to pay taxes? It’s like that neverending nightmare in Hellraiser when you wake up and it turns out you’re still having a nightmare — about 60 times in a row. Aren’t there enough problems? Acne, early ejaculation, shaving… and now commissions every time you’re trying to have fun! Wouldn’t you like some commission-free crypto trading?
Every time you try to get something done, someone’s trying to jump on the bandwagon and have a little bit of your hard-earned cryptos, like a mosquito. Except in case of commissions, it’s a mosquito you can’t swat, and you pretty much know it’ll be there waiting for you every time you leave the house.
That makes trading Bitcoin — or anything else — like visiting a sting, it’s quick, you’ll hardly even feel it), but if you’re paying hidden commissions or even just high commissions, you have it up to here with them.
Payment systems will charge you through the nose (try 13%), and the average cost of cashing virtual money in another country is 10-12%. Banks may bill you $25 a transaction regardless of the size (it sucks if you’re sending 30, let me tell you), and Western Union for a while was famous for charging nearly a quarter of whatever you were sending. Add to that 50-60 bucks a month for credit card maintenance — and no wonder most people hate fat cats that run banks and stick commissions in user’s every orifice.
Everyone is looking for somewhere with low commissions — and even low as they are people get some indescribable satisfaction in reducing them even more. Here’s what a perfect cashback offer looks like: some of the lowest commissions in the business, but there’s also a box that says “Use the NMX token to reduce commissions by 50%” and try not ticking it — you’ll tick it even if you don’t know what the NMX token is, but darn it, you’re gonna get it to get those commissions down even if you have to sell your dog and star in adult movies like Stallone did when things got tough.
Quickly: makers, takers, fakers, and “Oh for God’s sake”-ers
Makers put out orders that stay in the list (and make the market by adding liquidity). Takers put out an order that will be executed by an order in the list (taking liquidity out of the market). Makers and takers have their fees, and makers’ fees are typically lower because they’re doing the exchange a favor.
Commission-free crypto trading: how it works and where to find it
Fees may not be a big deal for you, but they’re a lot more interesting than you think. If you know about money management, you know you can put away a small amount every month starting at 18 and manage it well and when you’re up for a pension you’ll have millions. And that small amount really wouldn’t even feel like anything when you put it away. Same with trading fees.
Over time they will form a formidable mass that you will wish you didn’t give away — especially if you’re trading a lot and especially if there were other alternatives.
That’s why people seek out exchanges that offer minimal commissions — or even zero commission crypto trading. Exchanges like BLADE (some folks call it a sling blade, kek) offer unseen combinations of sassiness and productivity. Backed by the best people in the business with genuinely deep pockets and exceptionally flexible morals, they pretty much let everyone in with no eligibility requirements or limitations, and as long you hold the exchange’s native token you’re good to go.
When you’re choosing a commission free crypto exchange, however, remember that there are other things to take into consideration about a commission-free crypto exchange like good reviews, time in the business, instruments, other bonuses, and so on. As a rule, if someone’s offering you something for free, they’ve already made plans about how to compensate by making you pay some other way.
How exchanges survive when it comes to cryptocurrency commissions
You may think of an exchange as your friendly neighborhood Spiderman — it’s easy to use, it was always there, it helps you get your money out of the ether (see what I did there?) and into the bank.
But on the side of the owner, while other people trade and have fun, running the business is nothing but a huge list of debts that went into creating it. If an exchange wants to compete with others (who were in the business for a while, too) it has to not only offer better functionality but also provide superior qualities. Like a lightning-fast engine. And teams of coders that write it charge a lot. There are also ongoing fees like renting servers, having audits, maintenance and keeping safety at bay, paying the staff, and handling thousands of users at the same time.
Not only do exchanges have to be paid for, sometimes in tens of thousands, there are also regular monthly running costs. And somehow the owners who invested have to get that money back.
Commission fees are a good way of not only paying the bills in the least painful (for the user) way but also incentivizing the exchange admins to keep it real and deliver the best service they can so users keep coming back. No-commission crypto trading often means owners having to save money on quality.
Although exchanges are financial institutions, they are somewhat less cynical than usual businesses across the industry. Here, unlike with banks, which people just have to use (and normally hate), the owner of the exchange makes money by actually getting clients to like the exchange and genuinely wanting to stay. No one owes anyone anything, and whoever runs this business tries to treat people like human beings — and in return, they like the product and stick around. In a sense, exchanges are a rare occurrence in the financial world where people are genuinely caring for others.
If you’re looking for an exchange with 0 commissions, you’re right to be looking for someone who’s officially fee-free, but beware of hidden reefs: what are the costs of other services you’re not told about? Nothing is what it seems. If you just go for what’s advertised, make sure you calculate how much you’re paying for everything else (like risks, hidden costs, your time, and so on).
Nominex provides so many additional bonuses you’ll have annihilated fees costs in no time! With the referral program that makes you money as you sleep and expands exponentially, 4 types of bonuses, and a hybrid token distribution model (among everything else), if you leverage your time and opportunities here, you can repeat the stories of success you’ve only read about — and get other people to read about you ten years from now.
A registration that takes less than 20 seconds is this way — and if you want to learn how to leverage the genius functionality of this system to the full, don’t forget to keep coming back to the blog — new articles are coming out all the time.
Liked my article? Found it useful? Please share it on social networks. Have a good year!