News for hackers. Stuff that matters.

A comment on Stripe Crypto. Parent comment

Re:Stripe Crypto by hemantv on Thursday March 10, 2022 @02:53PM (#30631604)
It's high spread market. Any financial firms are salivating at how to take advantage and profit from it.

Coinbase whole business is spreads.

[ Parent | on HN ]
Re:Stripe Crypto by TacticalCoder on Thursday March 10, 2022 @04:11PM (#30632499)
> Coinbase whole business is spreads.

Coinbase collects fees. Even if the spread is minimal (I think Bitcoin goes to something silly like 8 decimals but even for a book in USD, the bid/ask spread may be 39 842.54 vs 39 482.55, so a spread of one cent), Coinbase still takes a fee on every trade. And they take a fee from both the buyer and the seller.

I'm not sure their business is related to spreads.

[ Parent | on HN ]