Cryptocurrency Exchange

Bittrex Slashes Its Trading Fee, Good News for Its US Customers

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Bittrex recently consummated its launch of slashed trading fees, and now they are gearing up to announce the schedule for the fee along with market fees on the basis of volume to Bittrex.com as well as internationally applicable accounts for Bittrex.

According to the new fee schedule, more trading will result in more savings. The fee has been lowered for the customers based out of the United States. It will be expanding to European markets soon, according to a blog post published on June 12, this year.

The exchange revealed that expansion in European markets would foster the euro trading of fiat currency, which has never been done before in history.

Bittrex is starting its promotional phase in dollar markets, with zero makers along with a taker option of 0.15%. The exchange states that the trading fees will be automatically lowered to the rate of promotions for the eligible accounts recorded to have made in trading volume an amount no less than $30,000 from the date of joining Bittrex International or Bittrex.

After Bittrex’s move on June 21, to restrain the US customers from doing exchanges in 32 cryptocurrencies, it is the first decision of Bitrex to make trading available to U.S. customers. Effective from the time that decision is executed, U.S. users won’t be accessible to trade the cryptocurrencies and the current open orders of digital assets will also be halted.

Early this year, Bittrex also announced its plans to release an OTC, over-the-counter desk for trading.

The exchange’s CEO Bill Shihara said,

This offering will be another way for Bittrex to further advance the adoption of blockchain technology worldwide, while also providing our customers with price certainty and a fast and easy way to trade large blocks of digital assets.

Bittrex, one of the prominent cryptocurrency exchanges, was started in the year 2013. Today it comes at 58th when ranked in the major cryptocurrency exchanges in terms of trade volume and market capitalization. The trading volume per day is over $81m for the company at the time of press, available to around 347 cryptocurrency markets.

Some eligible accounts have been generating a trading volume over $200,000 last month through markets of BTC, USDT, USD, and ETH.

The users trading volume will affect the price paid towards each trade by the customer.

The company said in a blog post,

We’re excited to reward our customers who help drive liquidity to Bittrex markets, which helps contribute to a healthy ecosystem. Your trading fees are reduced according to the USD value of your total volume traded by your account over the previous 30 days.”

It is also to be noted that Bittrex evaluates volume on last 30 days every day, changing values in each account’s calculation along with the schedule of the trading fee through 00:30 UTC to 01:30 UTC every day.

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