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Exchanges are so damn expensive, I don't know why people don't talk about it.

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by COINS NEWS 79 Views

When we tried to withdraw some Eth, it is costing us $33/transaction, if we do test, that's $33*2= $66. And that's the price when gas fee is 13gwei.

And we are forced to use ERC 20

Imagine how expensive that will be when gas fee goes up.

For those people who do dollar cost average. How are you cool with paying that amount for a transaction

I am in constant look of an exchange with reasonable fees.

Some of these exchanges have up to 2% spread to buy and 2% to sell .

That means if you trade 100k, you pay 2k to buy and 2k to sell. I call that rip-off.

On top of that they charge for withdrawal of fiat to your bank.

So exchange business must be really profitable. They are popping up everywhere.

It's sad Binance is not available anymore.

I am not comfortable paying that much at all. I don't know why nobody talks about this.

Wait, it's not all, aside from all these fees cost of hard wallet and tax software that must be paid annually.

We spend so much money on this, yet nobody mentions it..

I definitely think ETFs are needed Here.as long as they track the coin well. My biggest problem with ETF is, it's not 24/7.

Edit: I always say this , Eth is for rich people who are willing to pay hundreds of dollar as fee . This can't be sustainable.

submitted by /u/6M66
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