This is a promoted article from LVL.
Today, Bitcoin financial services provider LVL announced the launch of a feeless bitcoin exchange for users in North America.
“LVL aims to be the biggest disruption to the Bitcoin exchange space in years,” an LVL release said on the announcement. “Every Bitcoin exchange uses the same model: transaction costs. 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 charging users a trading fee, LVL only charges $ 3 for withdrawals and $ 9 per month for premium plans. LVL is also partnering with MasterCard to launch two debit cards in early 2021 and it will also generate revenue from merchants when consumers use the LVL debit card.
“LVL is neck and neck with Coinbase in the race to deliver the first debit card in North America that allows you to spend Bitcoin cash,” the release said. “Unlike Coinbase, which charges a 2.49 percent liquidation fee and a 0.5 percent spread to spend Bitcoin cash on a debit card, LVL does not charge a transaction fee for our debit card.”
Chris Slaughter, the founder of LVL, is also optimistic about the service’s offering compared to another favorite within the Bitcoin investment space: decentralized exchanges (DEXs).
“DEXs typically have high transaction fees ($ 10 to $ 15) with the main benefits being liquidity farming and access to shitcoins,” Slaughter said. “Transactions on LVL are free, the user experience is significantly easier (link your bank account) and our transactions are confidential on the platform.”
In addition, unlike unregulated DEXs, LVL is a federally registered financial institution that holds customers’ cash in an FDIC insured personal checking account and customer cryptocurrency in multi-signature wallets. The co-signer is BitGo, a digital asset trust company.
All told, LVL makes a significant bid to lead the free future of Bitcoin, a vision that is central to all of its offerings.
“In fact, people should be able to bank on Bitcoin, and that means there are no robberies for direct deposits, debit card expenses and exchange fees,” explains Slaughter. “We believe the future of everything, including assets, is free. Capital goods and consumables are already free (through services like Robinhood and Chime, respectively). It seems inevitable that Bitcoin exchanges will also be free. We are just starting on the goal line. “
LVL is currently available to US residents in 28 states and territories. After announcing its feeless exchange services, it is targeting expansion to all states except New York in December 2021. It also expects two major new features for next year.