New Cryptocurrency Platform Neverless: Zero Fees and Great User Experience
In 2024, interest in cryptocurrencies continues to soar, with more and more people seeking simple, transparent, and affordable solutions to buy their first cryptocurrencies.
In this context, we present Neverless: a platform that completely eliminates fees while providing a superb user experience.
So, what is Neverless and how does it work? Let’s find out.
Neverless: What is it?
Created by three former directors of Revolut, Neverless is a cryptocurrency exchange platform with a simple yet bold goal: to make cryptocurrency trading more accessible and, above all, cheaper.
On this last point, we will focus because in a world where trading platforms take percentages on each transaction, this promise naturally catches attention. However, we will discuss it in more detail in the next sections.
Neverless: A Truly Fee-Free Model?
Neverless makes a dream promise: zero fees. No deposit fees, no withdrawal fees, and most importantly, no transaction fees.
This almost seems too good to be true, especially in a market where every platform charges commissions at every step.
The Arbitrage-Based Model:
Unlike traditional platforms that make money by charging commissions, Neverless profits by exploiting arbitrage opportunities between cryptocurrency prices on different platforms.
Practically, the platform analyzes prices in real time on multiple exchanges and executes user orders at market prices. The price difference between platforms allows Neverless to generate profits without charging direct fees to users.
For the user, it’s simple: you buy and sell cryptocurrencies without paying any commissions. The idea behind this model is that Neverless remains competitive by taking advantage of these small price differences that exist in the crypto market. It’s a common strategy among professionals, and Neverless makes it accessible to everyone.
Another advantage of Neverless is transparency. In addition to no fees, the platform shares a portion of the gains made through its arbitrage strategies with its users, allowing them to benefit from passive returns even if they are not actively trading.
Neverless vs. Established Platforms
To truly understand where Neverless stands among exchanges, it’s important to compare its performance with well-established platforms like Binance and Coinbase.
For this purpose, a simulated transaction was conducted on all three platforms, purchasing $10,000 worth of Bitcoin at the same time to see the differences in fees and the amount of BTC received.
Here are the results obtained for a $500 BTC purchase:
- Neverless: the user receives 0.00788 BTC with no additional fees
- Binance: the user receives 0.00787 BTC
- Coinbase: the user receives 0.00784 BTC
Note that these fees may vary depending on the user’s monthly trading volume, but for small investors, the commission remains constant.
The verdict is simple: Neverless clearly outperforms its competitors in terms of the quantity of BTC received. Although the difference may seem minimal, it can be significant in the long run, especially for frequent traders. Every fraction of saved BTC can make a noticeable difference at the end of the year, especially if cryptocurrency prices rise.
Growing Your Crypto Portfolio with Passive Income
As mentioned earlier, Neverless has developed its own arbitrage strategies through advanced algorithms, traditionally only available to the best hedge funds.
The advantage is that users can also benefit from these strategies to generate really interesting annualized returns, currently around 13% APR in the form of stablecoins.
If you choose this strategy (via Neverless’ “Strategies™” account), your funds will be invested in automated strategies that generate returns for you, providing a passive way to grow your portfolio without constantly monitoring the markets.
The advantage of this approach is that the return does not depend on the market’s direction. Whether the market is up or down, arbitrage opportunities remain. These price differences exist constantly, regardless of the overall market condition. Therefore, even in a bearish market, Neverless users can still generate stable and regular returns.
How to Buy Cryptocurrencies on Neverless?
Step 1: Create an Account
The first thing to do to start using Neverless is to download the application from the major app stores (iOS and Android).
Once the app is installed on your mobile device, you’re ready for the next step.
After opening the app, you’ll need to create an account, which includes a KYC (Know Your Customer) verification where you provide certain personal information. This step is necessary to ensure compliance with regulations and ensure user security.
Once done, the app will ask you to set up a digit code that you’ll need to enter every time you launch the app.
Step 2: Deposit Funds
Once your account is created and validated, you can deposit funds. Neverless offers convenient methods to fund your account.
To do this, click on the “Deposit” tab and select your preferred method. Neverless even offers Apple Pay as an option to easily add funds to your account.
Regardless of the method chosen, there are no fees for these transactions, which is a considerable advantage.
Step 3: Buy Cryptocurrencies
Once your account is credited, you are ready to buy cryptocurrencies.
To do so, simply click on the “Exchange” tab on the main interface.
Then, select the cryptocurrency you want to buy from the available 480 options.
You’ll see the graphical interface of the cryptocurrency, displaying various information such as price history, a brief project description, and links to official project networks and whitepapers.
Finally, enter the amount you want to acquire and confirm your transaction.
Conclusion
Neverless is an extremely interesting exchange platform for those who want to invest in cryptocurrencies and make use of passive returns. The promise of no fees clearly sets Neverless apart as an option to consider when buying your first cryptos. With over 480 cryptocurrencies, a user-friendly interface, and arbitrage strategies that enable passive income generation, Neverless deserves your attention. However, it may not be suitable for active traders due to the lack of trading tools on the app, but rather for investors not aiming to actively speculate on cryptocurrencies.
Official Neverless channels:
