HitBTC, the leading cryptocurrency exchange for the number of trading pairs present on the platform, has just announced a drastic reduction in trading fees, currently the lowest on the market.
The old system guaranteed fifteen tiers, defined according to the trading volumes that each user reached: from a total of less than 100 bitcoins (BTC) in 30 days, up to a volume of more than 6 million bitcoins (BTC). These tiers have been modified and are currently reduced to 10.
Within HitBTC, all fees for each of these tiers have been reduced. When considering the lowest tier, for example, Tier 1 requires a monthly volume of less than 10 bitcoins (BTC) and the fees were the following:
- Maker Fee: 0.1 %
- Taker Fee: 0.2%
While now the new values are much more attractive:
- Maker Fee: 0.07 %
- Taker Fee: 0.07%
This is a much lower value compared to Binance, which currently, considering the same level, has a value of 0.1 % in both cases (0.075 % if BNB is used for fees). This is a part of the official announcement on the blog:
“Moving forward, we hope that this fee slash comes to mark the beginning of a period of growth for our platform, both in terms of community and product. The process of refinement—for anything worth refining—is never-ending, and we are honored that you are coming along with us on this journey. If you have any questions regarding the new fee system, or anything else concerning our platform, our support team will be happy to help”.
Since the launch of HitBTC in 2013, the platform has grown to become one of the most active and established crypto exchanges. Its reputation, considering the cybersecurity factor, certainly precedes it.
Considering the cryptocurrency exchange with the highest number of trading pairs in the world, HitBTC has been able to carve out a position of privilege in the market in which it operates and lowering fees has been a great move. Operating at around $800 million in daily volumes, the platform manages a huge pool of users who will certainly have appreciated the team’s stance in wanting to significantly lower commission rates.