• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Richard Sherman
Nexo

Richard Sherman Loves Crypto, But Hates Trading Fees

Adam James by Adam James
4 years ago
in Altcoins, Bitcoin, Bitcoin Exchange, News, News teaser
0
Advertisement

Superbowl champion and four-time Pro Bowler Richard Sherman is a big fan of cryptocurrency, having been in the game for years. He isn’t such a big fan of fees, though.


‘Skimming off the Top’

NFL defensive star Richard Sherman by no means bandwagon-ed into cryptocurrency. He actually got involved in digital currencies in 2014, when we started accepting Bitcoin payments for official merchandise. He’s also invested in Ethereum and Litecoin — which he claims have made him “a decent chunk of money” last year.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Sherman doesn’t like how exchanges and cryptocurrency marketplaces eat into that “decent chunk of money” by skimming exorbitant fees off the top. He explained to Money:

Every time you make a trade, there’s fee. Skimming off the top. A lot of people don’t realize until you make 10 transactions in a day. You’re like ‘Why am I $200, $300, $400 less? They charge you out the yin-yang, and it limits what you thought you’d be able to do. You don’t want to do that many transactions because you’ll get hit over the head.

Sherman’s got a point.

Leading cryptocurrency marketplace Coinbase charges US customers 1.49 percent for both payments from and payouts to their on-site USD wallet. All trades on popular exchange Bittrex have a 0.25% commission, while Binance records a 0.1% trading fee. When making multiple trades per day, these fees can certainly add up.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Bitcoin Transaction Fees Surpass $1 For First Time Ever

Sherman’s distaste for fees has led him to endorse cryptocurrency exchange Cobinhood, a Taiwan-based company with no-fee trading.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

Do Your Own Research

Sherman may be a knowledgable cryptocurrency investor himself, but don’t go looking for him to dole out any investment advice. He explained to Money:

I have a hard enough time dealing with my finances. I don’t want people coming on my social media saying ‘You told me to do this!’

happy trader bitcoin price

Additionally, Sherman knows that — no matter how much research you do — investing in cryptocurrency does not guarantee success. It’s important to do your own research, but also to never invest more than you’re willing to lose. Says Sherman:

Knowing when to sell, knowing when to sit, knowing when to huddle. No matter how much research you do, just like with stocks and bonds, you can never predict [what it will do]. People say they can predict it, but if you could predict everything, there’d be more billionaires in the world.

What do you think about trading fees? Do you agree with Sherman that trading fees are too high? Let us know in the comments below!


Images courtesy of Bitcoinist archives, Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Adam James

Adam James

Adam James lives in Budapest and is the Managing Editor of Bitcoinist.com. He digs Gibson guitars that sound like Tyrannosauruses, Romantic & Victorian poetry, Franco-era Spanish films, LPs, Chelsea FC, Bob Dylan, Pilot G2 10s, black coffee, video games, and cryptocurrency.

Related Posts

Bitcoin Bearish Signal: Leverage Ratio Spikes Up

Bitcoin Bearish Signal: Leverage Ratio Spikes Up

7 hours ago
Bitcoin Gets Praised For Its Technical Features By Brazil Central Bank’s Chief

Bitcoin Gets Praised For Its Technical Features By Brazil Central Bank’s Chief

14 hours ago
Elon Musk

Elon Musk To Twitter: Let’s Do A Public Debate On Bots!

18 hours ago
Reports Show Alexander Vinnik, BTC Exchange Operator Extradited To The U.S.

Reports Show Alexander Vinnik, BTC Exchange Operator Extradited To The U.S.

2 days ago
Bitcoin

Bitcoin Is A ‘Remarkable Cryptographic Achievement,’ Ex-Google CEO Says

2 days ago
Touadéra, a coin with Binance's logo

Binance’s CZ Visits The Central African Republic, Meets President Touadéra

3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.