Gemini Coinbase Kraken - Why Are All Crypto
Exchanges Charging High Fees?
You want to trade your coins, but you don't know how much it
will cost you in exchange fees.
You are not alone! CryptoElate explains a lack of
transparency is an industry-wide problem because of
the complex processes involved with exchanges.
The systems being used lack transparency. Are you
aware competition must increase for transparency
CryptoElate states in its new report
that each crypto exchange is
different, which makes them hard to
In addition, each blockchain uses a
unique process to calculate
transaction fees, which adds to the
The newly launched report aims to help you better understand why it is so
challenging to establish the crypto and blockchain exchange fees you will
incur per transaction.
For instance, you may not be aware
that centralised exchanges use
different structures compared to
While challenging now, CryptoElate
states transparency around crypto
exchange fees will improve.
The crypto market is still in its infancy in relative terms. Although it uses
advanced technology and processes, overtime, they will improve to increase
the speed of exchanges and reduce the costs.
A company spokesperson said: “Crypto
exchanges have an edge over traditional
trading and financial platforms because they
use crypto wallets, while traditional
platforms use banks to back the money.”
Disclaimer: This information does
not constitute investment advice or
any other kind of advice.