Fee

The cost of a transaction.

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Stablecoin Wars: Poloniex Extends Fee-Free USDC Trading

As we previously reported, Circle’s Poloniex participation in the stablecoin wars is evident in their decision to not charge fees on use of USDC on their platform. For the month of November, trades in USDC were not charged any fees at all. According to an e-mail blast from Poloniex, this amounted to more than $500,000 The post Stablecoin Wars: Poloniex Extends Fee-Free USDC Trading appeared first on CCN
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BTC/USDC Trading Pair in Poloniex To Have No Fee December

The BTC/USDC trading pair in Poloniex will have no fees during December 2018. USD Coin (USDC) is the stablecoin created by Circle in order to provide stability to […] The post BTC/USDC Trading Pair in Poloniex To Have No Fee December appeared first on UseTheBitcoin.
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Why Crypo Matters: $15M Raised for Bus Crash Victims — $480k Fee Charged

On November 28, a judge in Canada approved the distribution of $15.1 million to the families affected by the tragic bus crash occurred in Tisdale, Canada. But, around 2.9 percent of the payment was used to cover transaction fees, demonstrating the merit of transactions using crypto. PayPal and other widely utilized payment processors require 2.9 The post Why Crypo Matters: $15M Raised for Bus Crash Victims — $480k Fee Charged appeared first on CCN
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Robinhood to Provide Zero-Fee Crypto Trading to Illinois Residents

Robinhood is one of the most talked about digital asset and stock trading applications in the market. They allowed individuals from different states in the US to purchase cryptocurrencies without having to pay for fees at the time of trading. Now, they have announced that they will be opening their services to the State Of Illinois, which makes it the 29th state to receive round the clock trading services. Trade winds are blowing in Illinois. You can now use Robinhood Crypto to trade Bitcoin, Ethereum, and other crypto in the Prairie State! pic.twitter.com/uKUgrxxu1e — Robinhood (@RobinhoodApp) December 5, 2018 Although there is a catch, many traders had expected that XRP would be available for trading but evidently, it's not. I was so exited about this, until I realized it didn’t include #XRP — Coin Carter (@CoinCarter) December 5, 2018 Nonetheless, many in the states where Robinhood’s services are not available said that are eagerly waiting for it to be opened there. The following Tweets are from users who are requesting their services in the state of Washington. We like it. Many of us are pulling money out of robinhood we have been waiting for a while now in Seattle to trade on robinhood….are the rules in WA state difficult? — Litecoin Master [LTC 8k] [BTC 250k] (@xtdisnkfe) December 5, 2018 When to Washington state? — keshav (@keshavnarra) December 5, 2018 Robinhood has been noticeably expanding very fast adding 5 states in November and another 2 states, North and South Dakota in November. October had included the states of Rhode Island, Tennessee, Arkansas, Wyoming, and Ohio. The expansion of the crypto trading app has increased many folds sincee Gretchen Howard, an alumna of Google, joined Robinhood as the vice president of operations. A blog post was earleir released about the hiring saying: “Gretchen will oversee various operational functions that are critical to growing our business, including customer support. Her expertise in scaling operations will help us accelerate our product and business growth even faster.” The no-fee model presented by the company seemed to have democratized the investing space for every single trader. Furthermore, several experts claimed that Robinhood and no-fee trading platforms could pose a serious threat to traditional exchanges. However, there have been several individuals questioning how Robinhood was able to charge no-fees in a sustainable way. This is why there were some SEC disclosures in which it was possible to understand how Robinhood was generating income.
Bitcoin Exchange Guide

A closer look at the Griffex Exchange platform that promises zero-fee trading

The world is talking about cryptocurrencies and the exchanges done. There are various platforms which allow people to do transactions such as purchase and selling of the cryptocurrencies. One of such platform is Griffex. It is a marketplace for smart sale and purchase of cryptocurrencies. It is a good platform for seasoned investors, retail traders, and cryptocurrency enthusiasts and assists them to manage multi currency investment portfolio. There are various challenges which Griffex tries to overcome. Some of them are listed below Complex Structure of Exchanges There are different KYC policies, ways of funding and interfaces which results in a complex Structure. There are huge number of challenges faced by traders due to various policies that are like hurdles such as best pricing ,liquidity, withdrawals, and transactions. The lack of Trading Choices There is very less amount of freedom given to the traders for utilizing best trading tools and smart strategies and investors due to lack of offerings for trading. High Fees One most important factor or challenge is high fees for execution cost. Various platforms charge around 0.1% to 0.25% per transaction. Asset Security One of the major concern for the investors and trader is whether the asset is secure. All the digital assets are prone to the attack of the hackers since all the exchanges platforms hold large cryptocurrencies deposit. Customer Support Crypto Exchanges are infamous for poor customer support. Customers often face problems and doesn't receive timely support and seeks for resolution. FAQs and other resources often make customers dilemma position Listing Requirements Many exchanges supports very less number of the digital assets available for investments. Large numbers of alternative coins and newly issued tokens are not available for more click here : https://bitcointalk.org/index.php?topic=5080440.msg48463542#msg48463542
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Crypto Portfolio Rebalancing: A Trading Fee Analysis

As Shrimpy continues to grow and expand its product features for the crypto world, one of our most frequently asked question is — What is the optimal rebalancing strategy for me? Given the variety of trading fees imposed by the various exchanges and trading platforms, the portfolio performance of automated rebalancing strategies may differ when deciding which exchange or trading platform to primarily conduct trades on.This study will take a closer look at the effect of trading fees and their effect on portfolio performance.AnalysisSOURCEThe data for this study was provided by CoinAPI. Using their rest APIs, we were able to compile the 20 best bid prices and 20 best ask prices available on Bittrex at each rebalance time interval. Our data begins on March 15th 2017 and continues until October 20th 2018.CoinAPI is a service which collects data from countless exchanges. Applications such as Shrimpy can then use that data to construct accurate backtests, market analysis, and produce comprehensive research.TRADESFee — All trades included the relevant fee (0.0001%, 0.05%, 0.10%, 0.15%, 0.20%, 0.25%)REBALANCE PERIODRebalance periods — 1 hour, 1 day, 1 week, and 1 monthLearn more about rebalancing for cryptocurrency.PORTFOLIO SIZEInitial portfolio value — $5,000Number of assets — 10 assets per portfolioLearn more about how the number of assets in a portfolio affects performance.ASSET SELECTIONPortfolio construction — Randomly selected from assets available between 3–15–17 and 10–20–18 on BittrexLearn more about how to build a strong portfolio.BACKTESTNumber of backtests — 1,000 backtests per trading fee & rebalance period pairRead more about backtests or run your own.RESULTSThe performance for each backtest was determined by taking the final rebalancing value and comparing it to the final buy-and-hold value. This was done by using the equation: (Rf — Hf) / Hf, where Rf is the final rebalancing value and Hf is the final buy-and-hold value.1 Month RebalanceA 1 month rebalance period experienced the least performance drift, among all rebalance periods examined, as the fee increased. Thinking about the comparison between different rebalance periods conceptually, it’s reasonable to reach an expectation that monthly rebalances should be affected less from fees since monthly rebalances perform significantly fewer trades than shorter rebalance periods. As assets drift in price, they frequently oscillate or change direction, so the price of an asset is rarely always increasing or always decreasing. All of the oscillations that take place throughout the month period won’t be captured by a monthly rebalance. However, these direction changes will be observed by more frequent rebalances, resulting in higher trade volume and fees. Additionally as a result, monthly rebalances experienced the least benefit from decreased trading fee of any rebalance period studied.This table illustrates the median performance of 1,000 backtests which were run with each of the trading fees depicted above. The median final value is the value of the median portfolio after the backtest is complete. Each backtest is allocated $5,000 at the start, so a final value of $70,311.19 which was achieved for buy-and-hold suggests a median performance increase of 1,306%. The median percent increase over buy-and-hold is how much better the median final value performed than the median buy-and-hold value.1 Week RebalanceA 1 week rebalance period demonstrated a performance increase of ~ 30% when compared to monthly rebalancing. Similar to how monthly rebalancing didn’t result in a large performance boost when decreasing fee, weekly rebalances only observed a ~ 5–6% increase in performance. While every percent matters, the next backtests which look at daily and hourly rebalances will demonstrate a more profound change in performance.This table illustrates the median performance of 1,000 backtests which were run with each of the trading fees depicted above. The median final value is the value of the median portfolio after the backtest is complete. Each backtest is allocated $5,000 at the start, so a final value of $75,248.87 which was achieved for buy-and-hold suggests a median performance increase of 1,405%. The median percent increase over buy-and-hold is how much better the median final value performed than the median buy-and-hold value.1 Day RebalanceDaily rebalances emerged as the highest performing rebalance period when taking into account all trading fees that were examined. The only fee which demonstrated a clear improvement over daily rebalances was the 0.0001% trading fee. When compared to monthly rebalances, daily rebalances had a difference of over 60% for all trading fees studied. In addition, we can see a 20% performance difference between the 0.25% trading fee and the 0.0001% fee. Such a large range of performance results illustrates the importance of reducing fees for portfolios that utilize a daily rebalancing strategy.This table illustrates the median performance of 1,000 backtests which were run with each of the trading fees depicted above. The median final value is the value of the median portfolio after the backtest is complete. Each backtest is allocated $5,000 at the start, so a final value of $70,894.79 which was achieved for buy-and-hold suggests a median performance increase of 1,318%. The median percent increase over buy-and-hold is how much better the median final value performed than the median buy-and-hold value.1 Hour RebalanceHourly rebalances produced the widest range of performance results. Starting with a 94.28% performance boost when using a 0.25% trading fee, hourly rebalancing achieved lower outcomes than both daily rebalances and weekly rebalances. However, as the trading fee reduced, hourly rebalances increased in performance rapidly. This rise continued until hourly rebalances outperformed all other examined rebalance periods as the trading fee approached 0.The results highlight the attention that should be placed into lowering trading fees if a hourly rebalance period is being executed. With a ~ 100% performance difference between the highest and lowest fee tested, the trading fee has a critical importance to the success of this portfolio strategy.This table illustrates the median performance of 1,000 backtests which were run with each of the trading fees depicted above. The median final value is the value of the median portfolio after the backtest is complete. Each backtest is allocated $5,000 at the start, so a final value of $70,506.36 which was achieved for buy-and-hold suggests a median performance increase of 1,310%. The median percent increase over buy-and-hold is how much better the median final value performed than the median buy-and-hold value.CONCLUSIONSComparing all the results in a single graph, we can get an interesting picture of how trading fees affect the performance of each rebalance frequency. From the graph, we can see that when we approach a scenario with no trading fees, the optimal strategy is hourly rebalancing.From these results, we can conclude that trading fees can have a large impact on portfolio bottom line performance. In the perfect world with no trading fees, hourly rebalancing proves to be the optimal strategy,However, we also observe that in a real-life scenario with trading fees, a daily rebalancing strategy shows the most consistent portfolio returns. Even for hourly rebalancing, the trading fees will have to be as low as .05% to match the return from a daily rebalancing strategy.From this analysis, we can conclude that trading fees may have a large impact on the performance of various rebalancing strategies. The immature and volatile nature of the crypto space presents unique opportunities for managing and executing a rebalancing portfolio strategy.Disclaimer: Backtests examine past performance and do not guarantee future performance.REBALANCING WITH SHRIMPYShrimpy is a free application which automates the rebalancing strategy. Our dedicated tools for asset allocation, backtesting, and indexing the market are the most powerful in the industry. Whether you are an institution or individual, our solutions are designed to solve the most pressing problems facing portfolio management in the crypto space.Sign up today by clicking here.If you still aren’t sure, try out the demo to see everything we have to offer!Shrimpy DemoDon’t forget to check out the Shrimpy website, follow us on Twitter and Facebook for updates, and ask any questions to our amazing, active communities on Telegram & Discord.Leave a comment to let us know your experiences with rebalancing!The Shrimpy TeamOriginally published at blog.shrimpy.io.Crypto Portfolio Rebalancing: A Trading Fee Analysis was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Prosecutors Call for Ten Year Jail Term for Karpeles Over Mt. Gox Embezzlement

Mark Karpeles, the CEO of Mt Gox, is currently being accused of embezzlement by Japanese authorities. The prosecutors of the court case are seeking a 10-year sentence for the ex-CEO, which commanded the now-defunct Mt Gox exchange. This comes in the midst of the extension announced for civil rehabilitation claims. Japanese prosecutors say as much by alleging that Mark Karpeles's actions "played a great role in totally destroying the confidence of Bitcoin users. The actions in question are that he allegedly embezzled a total of 341 million yen (US$3 million) of customer funds from the Mt Gox account, moving it to his personal account between September and December 2013, while padding the numbers on his company's trading system to cover up the loss. Karpeles has sworn his innocence and says the money, moved in the last four months of 2013, was meant to serve as only a temporary loan. He also argued, earlier in the trial, that the funds in question did not belong to clients but were his now-defunct company’s revenue. In response to the former CEO’s statement, the prosecutors at the court said: There was no documentation of loans, and there was no intention of paying back the money. The prosecutors went further to demand a harsh sentence for Karpelès. According to the Japanese prosecutors, the Mt. Gox Chief betrayed his clients’ confidence and misused most of their funds. The ex-CEO is currently confined to Japan as a condition of his bail and has been answering in freedom. He has often protested his innocence and publicly appealed to the industry. It remains unknown when the trail will conclude, the publication added.
BitZamp

Tezos [XTZ] Story – XTZ and Waves Highest Gainers

As many crypto enthusiasts have started to notice, there is a slight attempt by the bulls to get Bitcoin – BTC against the US Dollar up back on its feet. Read: Bitcoin (BTC) Price Analysis: Are Bulls Back on Their Feet? Bitcoin bull Mike Novogratz insists that bitcoin won’t fall to the $80 level despite signs that the bear market could persist. In an interview with Bloomberg, he reiterated that bitcoin will become digital gold and that revolutions don’t happen overnight. If the supportive trend line starts to gain momentum and hold-off any waves of bears that tend to tank the value downward, a ripple-effect could present itself impacting all following altcoins as the pioneer cryptocoin always does. Among the top 20, the highest gainer in the last 24-hours without a doubt is Tezos [XTS]. Per time of writing, the pair XTS/USD is changing hands at $0.4197 – marking an increase of 13.23%. Source: coinmarketcap Tezos for starters – During one of the most successful and largest ICOs ever held – Tezos Foundation raised over $232 mil bringing a new cryptocurrency in the market. During a contact made by Reuters to the president of the foundation it was confirmed that its MainNet was set to launch on the 14th of Sep, 2018. #Breaking @millervalue #ValueInvesting #Crypto #Bitcoin #Cryptocurrency project #Tezos to launch main #network next week:… https://t.co/nqOY185XCh — John M. Spallanzani (@JohnSpall247) September 14, 2018 What is Tezos (XTZ)? Tezos is a decentralized computing platform for Turing-complete smart contracts. Tezos has three key features. (1) “Liquid Proof-of-Stake” consensus – there is a relatively low barrier to consensus participation and delegation is not required. (2) Smart contract verification – Tezos invented the Michelson programming language that allows formal proofs of contract properties for better contract security. (3) On-chain governance – all aspects of governance are contained in the platform: voting on proposed protocol upgrades, paying developers and implementing the upgrades. – Via Kraken’s blog post – Kraken Listing XTZ Blog Post Right on its tail is Waves which is welcoming a daily price hoist of 10.01% against the US Dollar reaching the mark of $1.85. Its beginning of December price surge as it seems is still continuing. The reason for this trend was the recent announcement of the release of a significant update to the mobile wallet. We are excited to announce a long-awaited update of the #Waves Mobile app! Deposit, store and withdraw your #crypto securely, trade your assets on DEX, lease your $WAVES — everything is now available right on your smartphone! Read more about it here: https://t.co/5Qp7YKTa8r pic.twitter.com/y5hsCXj2GV — Waves Platform (@wavesplatform) December 3, 2018 The post Tezos [XTZ] Story – XTZ and Waves Highest Gainers appeared first on Ethereum World News.
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