I’m shocked at how persistent percentage based fees are in crypto I would have guessed many prices ago at least a couple of exchanges would have swapped or made a switch to fixed fee models but maybe don’t ask questions when you’re just taking it in
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I've always been confused; why would fees be $ based instead of % based? It means that stock splits change effective fees.
It’s a fair argument that the rest of the world is probably wrong and percentage based fees is better my issue has always just been the cost to execute 5 btc has gone up consistently over time on crypto exchanges but not cme but most people are always thinking in usd terms anyway
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(another angle on this -- if you charged fees in BTC instead of in USD, it would seem more clear what should happen)
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because if something goes up from 100$ to 500$ you pay % of the notional value for "nothing"(like the same operation) instead of a flat fee. doesnt make sense
Like I think this benefits exchanges bigly specifically exchanges like Coinbase with very high retail percentage transaction fees by default
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