Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: emma.lee1890 on October 29, 2018, 03:28:54 PM
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Come to think of it, we said blockchain is bringing decentralized to the world by cryptocurrency and save us from banks , but have we really gotten the decentralized we talking about because I can't imagine exchange taking so much from us through buying the tokens and still not save by keeping our funds in their cares , this makes me think that are we really in decentralized world we talking about or just a mere thinking,
These exchange makes money even more than banks from us, which mean we are enriching someone by doing so,
Do we really need to pay that much for exchanging of token for btc or any other cryptocurrency if some exchange are charging 0.25% and one is charging 0.15% and even offer 50% discount if their token is use to pay for the fees and still record millions as a profit every month and also take more than what miner takes as charge fees when sending out from their wallet like 0.0005 which is equal to 3$ compare with normal fee which is less to 1$ , and if anything happen to your fund they are less concern ,
dont you think we are in centralized crypto market even if we can gain from those token we bought and what do you guys think is the best way to really curb this centralized thing from the world ?
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No one opens a business and want to run into losses, but banks and exchange platform are profit seekers,but the fact is that the banks pay huge amount of taxes and charges to the government but ad for this exchanges they pay nothing they home with there huge profits, but what's else can we do to stop them from this huge changes from us at the exchanges nothing ,not until we have many competitors may it will reduce it's charges.
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You should edit your title to "Is there difference between bank and CENTRALIZED cryptocurrency exchange" - There's not much difference here when it comes to their operation except maybe some few things like banks have infrastructures and CEX only needs some hardwares and internet. Also, banks would always require their own "KYC" while CEX only requires when a user exceeds a certain limit.