Commissions on exchanges – why is it so important?

I have a brokerage account and from time to time I invest in various companies. I have also invested in various cryptocurrencies.

As it should be, the first trials could rather be described as an attempt to speculate on short periods of time – trading) What is in the stock market, what is in the cryptocurrency market.

In this article, I will show with one example why it is very unlikely that such speculative games will make you rich. Also what is the alternative.

Centralized exchanges

Having decided to start investing, you will most likely contact specialized organizations.

In the stock market, these are either directly exchanges (in Russia, these are Moscow and St. Petersburg), or brokers (Tinkoff, Sberbank, BCS and others). Everyone has their own conditions, but one way or another, you will pay commissions for conducting transactions.

In the crypto market, you can trade on DEX (decentralized exchanges) or CEX (centralized exchanges). CEX in the crypto market for the most part does not differ from exchanges in the stock market, everyone has their own conditions, but no one has canceled commissions either.

Googling “crypto exchange” the first result is Binance – one of the biggest exchanges. Using her example, I will consider cryptocurrency trading

Under the right conditions, the commission may be less. For example, it can be seen that you can upgrade to the VIP1 level if the turnover for 30 days exceeds $1 million and the BNB balance is more than 25 units (today it is ~$8500).

Mufasa
Mufasahttps://cryptomufasa.com
We bring you the Latest News and Updates on Bitcoin, Ethereum, Cryptocurrency & NFTs.

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