/biz/ - Business & Finance

Anon, fellow Canadian here, from the GTHA.
When I see your fee's start to drop to 0.5%, I would consider utilizing your platform.
In the meantime, I am comfy with my Interac Debit on Quadriga for instant daily funding up to 4k. Plus, their platform has been around for ages which gives me piece of mind.
Also, you DO have to compete with Kraken.
As much as you may not want to think so, your exchange is competing in a small niche for putting CAD into crypto. Nobody will stick around your platform to trade on it, so who cares which coins you offer. Any Canadian with half a brain will look for the fiat on ramp with the cheapest deposit and withdrawal fees, proceed to buy something that is fast and cheap to transfer. like LTC for example, and send that to an exchange with proper sub 0.1% trading fees, and high liquidity.
Instead of think if you "could" make a Canadian exchange that offers tons of coins, and medium high fees, I think you should decide if you actually "should", before you put any more of your own money into this project.
Don't take this the wrong way, I am not trying to discourage a fellow entrepreneur, but I just don't see this market being profitable for the previously stated reasons.
It should also be noted that Kraken has been around for quite a while and never had security compromised. They do have a poor reputation with customer service, like any exchange scaling slowly, but if you are not able to offer better value to the consumer than them, people have no real reason to try and utilize your platform.

>>7962895
This is terrible advice. Sure, he is not going to turn $500 bucks into 100k, but there will still be 10x opportunities this year.
And obviously don't stop wagecucking, that would be stupid. Keep working, and dollar cost average more money into the crypto projects you like throughout the year.

>>7962897
Why?

>>7962912
This receiver used to be my moms, bought in the early 80's I believe. It is very powerful, and pumps hard. I just use it with a L/R rca to aux into my computer for mainly music. Then I use the small desktop speaker for podcasts etc.

Buy at 3000
Sell at 200

Are you expecting another crash in the near future /biz/? When? What are you going to do with your investments in anticipation of this? Pull them all out?