This is a promoted article provided by LVL.
Bitcoin financial services provider LVL today announced the launch of a fee-free bitcoin exchange for consumers in North America.
“LVL wants to be the biggest disruption to Bitcoin’s exchange space in years,” according to an LVL statement on the announcement. “All Bitcoin exchanges use the same model – transaction fees. Like stocks and banking, we believe the future of Bitcoin is free. If we’re right, this will be the biggest disturbance in the exchange space. ”
Instead of charging trading fees to consumers, LVL charges only $ 3 for withdrawals and $ 9 a month for premium subscriptions. LVL is also partnering with MasterCard to release two debit cards in early 2021 and will also generate revenue from merchants when consumers leverage the LVL debit card.
“LVL is neck and neck with Coinbase in the race to distribute the first debit card in North America that lets you spend cash from Bitcoin,” according to the statement. “Unlike Coinbase, which charges a liquidation fee of 2.49 per cent and a 0.5 per cent spread to spend cash from Bitcoin on a debit card, LVL does not charge any transaction fees for our debit card.”
Chris Slaughter, the founder of LVL, is also optimistic about the service offerings compared to another favorite within Bitcoin’s investment space: decentralized exchanges (DEXs).
“Typically, DEXs have high transaction fees ($ 10 to $ 15) and the main benefits are liquidity farming and access to shitcoins,” says Slaughter. “Crafts on LVL are free, the user experience is dramatically easier (connect your bank account) and our trades are secret on the platform.”
Also, unlike unregulated DEXs, LVL is a federally registered financial institution, which holds a client’s cash in a FDIC-insured personal checking account and holds a client’s cryptocurrency in multi-wallets. signature. Its co-signer is the digital asset trust company BitGo.
All told, LVL is making a significant bid to lead Bitcoin’s free future, a vision that is central to all its offerings.
“Basically, people need to be able to bank on Bitcoin, and that means no predatory fees across direct deposit, debit card spending and exchange fees,” explained Slaughter. “We believe the future of everything, including assets, is free. Capital assets and consumables are already free (through services such as Robinhood and Chime, respectively). It seems inevitable that Bitcoin exchanges will be free as well. We start at the goal line. ”
LVL is currently available to US residents in 28 provinces and territories. Following the announcement of its fee-free exchange services, it is focusing on expanding to all provinces except New York by December 2021. It also anticipates two major new features for next year.