We’re super excited to share some updates with the community today. Shakepay is now commission-free!Pricing update
Old trading fee: 0.75% New trading fee: 0%
Over the last few months, we’ve reduced our cost of operations and we’re passing these savings along to our customers. This means more bitcoin for your buck when trading on Shakepay.
All funding and withdrawal details remain the same (tl;dr: fast & no fees)But Shakepay, how do you make money?
In short, Shakepay is now a market maker and captures the difference between the buy and sell rates offered.
Previously, to fulfill all trades, Shakepay would source transactions on other exchanges. When Alice bought 1 bitcoin, Shakepay also bought 1 bitcoin and offered the rate received minus commission back to Alice.
With more trades on Shakepay, we’re able to take the other side of our customer trades reducing our cost of operations and, in effect, reducing the spread for all transactions.