https://www.lykke.com/
Seems a bit "pie in the sky". Zero fees? Really?
Anyone using it? Thoughts?
I use it, it is not "zero" fees to purchase bitcoins using fiat. They make their money on a spread. For example, as I'm typing this their US$ per BTC "Bid" price is US$2700.801 while their "Ask" price is US$2749.788.
If I have US$10000.00 to purchase BTCs, I'd only be able to purchase 3.636644 BTCs (US$10000 / US$2749.788).
If I were to purchase US$ using all the 3.636644 BTCs then I'd only be able to purchase US$9821.8517 (US$2700.801 x 3.636644 BTCs).
The difference is US$178.148 (versus US$10000), or R2315.93 (versus R130000), about 1.78%.
So far, I love using Lykke, it's extremely user friendly and quick. But I'm sure one can get better deals elsewhere?
I like that it's coin marketcap didn't have extreme price swings compared to other coins during the past few weeks, to me that signals that it's sort of stable. The founder also mentioned that he's not focusing on profiting now, he wants to invest and have a very stable ecosystem and then in 3 years or so it will hopefully pay off.
Edit: Looking at their website,
https://www.lykke.com/, I'll confirm the following:
- 0% commission - Zero broker commission. (True)
- low spreads - Matching engine with spread priority. (You be the judge.....1.78% there abouts)
- guaranteed execution - Trading at human speed. Best execution guaranteed! (True)
- immediate settlement - Your trade is settled in minutes (True, minutes as in 45 minutes sometimes - fiat to BTC)
- direct ownership - Guaranteed by the blockchain. (True, I think)
