I want to say it means more like the on ramps to crypto are kind of fucked. Coinbase and other on ramp providers have terrible fees, its almost exclusively the primary reason I don't swap fiat into crypto currency.
Those fees exist to cover risk mitigation - i.e. a certain percentage of on-ramps are fraudulent and the fee disperses the loss spread to everyone who is on-ramping.
Unless this service has invented some new technology in fraud prevention, it's going to eat that risk at a loss to themselves.
Poloniex has zero fee wire transfers (other than the wire fee you pay) into USDC which you can then trade on Polo with (paying fees) or withdraw the USDC anywhere you like that has better fees.
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I want to say it means more like the on ramps to crypto are kind of fucked. Coinbase and other on ramp providers have terrible fees, its almost exclusively the primary reason I don't swap fiat into crypto currency.
Those fees exist to cover risk mitigation - i.e. a certain percentage of on-ramps are fraudulent and the fee disperses the loss spread to everyone who is on-ramping.
Unless this service has invented some new technology in fraud prevention, it's going to eat that risk at a loss to themselves.
Poloniex has zero fee wire transfers (other than the wire fee you pay) into USDC which you can then trade on Polo with (paying fees) or withdraw the USDC anywhere you like that has better fees.
IIRC fees are around 0.25%; what do you want to do with crypto that you see such fees as a problem?