LVL Launches Feeless Bitcoin Exchange – Bitcoin Magazine

This is a promoted article provided by LVL.

Today, Bitcoin financial services provider LVL announced the launch of a feeless bitcoin exchange for users in North America.

“LVL wants to be the biggest disruption to the Bitcoin exchange space in years,” per a LVL release on the announcement. “Every Bitcoin exchange uses the same model — transaction fees. Like stocks and banking, we believe the future of Bitcoin is free. If we’re right, it will be the biggest disruption in the exchange space.”

Rather than charge trading fees to users, LVL just charges $3 for withdrawals and $9 per month for premium subscriptions. LVL is also partnering with MasterCard to release two debit cards in early 2021 and it will also generate revenue from merchants when consumers leverage the LVL debit card.

“LVL is neck and neck with Coinbase in the race to deliver the first debit card in North America that lets you spend cash from Bitcoin,” according to the release. “Unlike Coinbase, which charges a 2.49 percent liquidation fee and a 0.5 percent spread to spend cash from Bitcoin on a debit card, LVL charges no transaction fees for our debit card.”

Chris Slaughter, LVL’s founder, is also optimistic about the service’s offerings in comparison to another favorite within the Bitcoin investment space: decentralized exchanges (DEXs).

“Typically, DEXs have high transaction fees ($10 to $15) with the main advantages being liquidity farming and access to shitcoins,” Slaughter said. “Trades on LVL are free, the user experience is dramatically easier (link your bank account) and our trades are confidential on the platform.”

Also, unlike unregulated DEXs, LVL is a federally-registered financial institution, holding client cash in an FDIC-insured personal checking account and holding client cryptocurrency in multisignature wallets. Its co-signor is digital asset trust company BitGo.

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