How do Cryptocurrency Fees work for Trader
A seasoned crypto investor will know most of the charges that eat the payout from their online trading pursuits, there exists a host of fees that get charged starting from the sign-up process into the account until the profit percentage is calculated. All this comes in different names, without compromising on the similar factor of having a transaction fee attached to every trade done. Be it the token system of adding the cryptocurrency or directly taking the base coins from your account. The trader has to always be cautious of hidden charges that are not disclosed by most of the trading platforms, as you read more about Qprofit System there will be more clarity on how the costs to the broker and the trader works.
The spate of ICO that have invaded the crypto space to raise funds for new startup’s or existing crypto-based companies have placed the value extremely low so that there are many takers, one thing that is constant is the transaction fees that are extremely high for certain coin currency, that works to be nearly $ 4 per transaction. Traders have to understand that the moment they want to execute a trade there are more than three intermediaries, who will charge a minimum percentage or flat amount for the trade to go through their channel, making money.
If you are a new investor in the ICO, then be clear of notions and ask yourself:
- is there a clear advantage in investing in the tokens
- do I use technology often
- is there growth for the cryptocurrency and the underlying technology in the next 1-3 years
- and do I really need to understand the technology behind the ICO
Once we analyze all the probabilities and the answer to the above questions is in affirmative, then it is worth going for ICO, and paying up all the intermittent fees that are imperative with the coin offerings. Choosing the exchanges to trade is another important factor that ties to the charges; some of the trading platforms like, Qprofit System double up as exchanges. The purchase will depend on, the exchanges charge fees that are relatively unregulated, and hence one exchange could charge more fees than the other depending upon the cryptocurrency they trade in. Choose the exchange that does not charge for their service, use the exchange that charges a minimal amount to maintain the digital wallet, and trade through the exchange where there are no charges for the services for trading in particular coin currency.