Potentially stupid market structure question of the day: are 100% of Coinbase crypto trades executed on-chain? Is it possible for trades to happen off-chain?
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@francispouliot_ runs one: https://bullbitcoin.com/ sure there's lots of others. key term 'non-custodial crypto exchange' Myriad of P2P exchanges.@bisq_network,@Paxful@hodlhodl Binance p2p increasing volumes: https://cointelegraph.com/news/global-p2p-bitcoin-trading-volume-at-highest-point-since-jan-2018 …https://news.bitcoin.com/nigerias-cryptocurrency-traded-volumes-on-p2p-platform-top-1-5-billion/ …
It's cool that this exists, though the the bid/ask for 1 BTC on bullbitcoin is 44710/46450 i.e. a spread of 3.8% which seems pretty punchy
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It wouldn't be for active trading, but fiat on-ramping. Consider banks / payment processors randomly shut down crypto companies accounts. 2% on fiat-in is somewhat normal, even at the best US exchanges, if you add up deposit fee + trade commission + spread + withdraw fee.
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Most exchanges have no deposit/withdraw fees.
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