As you probably know, Deex is a decentralized exchange. This means that all the orders and trades within the exchange exist as blockchain transactions. Simply say they are the records in a decentralized ledger. Therefore they are charged as Bitshares transactions fee.
In case of Deex exchange you pay transaction fees in Deex token in the following way:
Place an order – 0.1263 Deex
Cancel order – 0.1263 Deex
Let’s take a look at how this price is different from what other exchanges offer.
- Bittrex is one of the oldest (founded in 2013) and the most reputable exchanges operating in the US. They have a flat fee structure, charging 0.25% for any trade.
- In case you trade $100 you pay $0.25
- In case you trade $10 000 you pay $25
- In case you trade $1 000 0000 you pay $2 500
This does not look like a good option for those who trade with large volumes.
- Bitfinex is also an old exchange with a good name and high volumes being traded there. The exchange is registered in Hong Kong and has a lot of Asian traders. Bitfinex has a more flexible approach than Bittrex. Although the basic maker fee is $0.1 and taker fee is $0.2, they have some discounts for those who trade with large volumes.
- In case you trade $100 you pay $0.1 and the order taker pays $0.2
- In case you trade $10 000 you pay $10 and the order taker pays $20
- In case you trade $1 000 0000 you pay $600 and the order taker pays $2 000
For those who trade often or with large volumes this either does not seem as a good deal for large or frequent transactions.
Binance is probably one of the fastest growing exchanges during the last 2 years. The exchange got the Malta license and tries to expand globally as much as possible. The basic trade commission on Binance is $0.1. However due to the proactive marketing strategy, Binance tries to acquire loyal traders and also to promote their native BNB token.
- So imagine that you are trading let’s say more than 500 BTC (!!!) per month (which is a huge amount indeed) and you have reached a VIP-2 status according to the Binance hierarchy. So than
- In case you trade $100 you pay $0.08 and the order taker pays $0.1
- In case you trade $10 000 you pay $8 and the order taker pays $10
- In case you trade $1 000 0000 you pay $800 and the order taker pays $1 000
This structure seems to be flexible and loyal for the high-volume traders, however the fees are still pretty high.
So let’s see how does this work compared with Deex exchange
Let’s assume 1 Deex = 1 Cent. The price may vary, but this is the case at the moment. So the comparison table would look like the following:
We see that a fee charged for any sufficient trade is much lower than on centralized exchanges. Moreover for the high-volume trades, let’s say $1 000 000, the trading fees on Deex are thousands, or even a million times lower than on some centralized exchanges.
This is what the true decentralization brings to the trading industry !