Crypto exchange platform bitFlyer BitFlyer is poised to launch a revamped trading fee model, aiming to offer the most competitive trading costs in the United States. With both private investors and institutional entities displaying heightened interest in cryptocurrencies, this could potentially boost BitFlyer's market share significantly.
With the rise in crypto trading enthusiasm comes a demand for regulated exchange platforms. Regulators worldwide are increasingly scrutinizing the compliance of spot and derivatives crypto trading services with best practices.
BitFlyer Offers Incentives to High Volume Traders with Reduced Fees
In a press statement shared with Blockonomi, bitFlyer BitFlyer is making substantial adjustments to its cryptocurrency trading fee structure. Lightning platform According to the announcement, trading volumes under $50,000 will incur a 0.1% fee, while those exceeding $500 million will enjoy a lower fee of 0.03%.
The exchange is unveiling eight different trading tiers, dependent on transaction volume. Users will be placed in a fee category according to their trading volume over the past 30 days.
This revamped fee structure puts bitFlyer as the top choice for low-fee regulated crypto exchanges in the U.S. Addressing the decision, bitFlyer COO and head of the U.S. operations, Joel Edgerton, commented:
At bitFlyer USA, our priority is enhancing customer value. We simplify this by lowering fees, enabling our users to concentrate on their trading strategies without any complex prerequisites. Our mission has always been to facilitate greater crypto adoption by establishing bitFlyer as the budget-friendly and secure choice for both retail and institutional traders in the U.S.
The press release notes the new trading fees will be effective from Nov. 4. Traders have until then to familiarize themselves with these changes, and can visit the platform’s FAQ page for further details on cryptocurrency trading fees.
The fee reduction is likely to attract more interest from retail and institutional investors. In October 2019, the crypto community reacted negatively raised concerns about Coinbase's increase in trading fees for retail customers. BitFlyer believes this fee strategy will help enhance liquidity and order depth, resulting in a smoother trading experience.
With predictions that Bitcoin (BTC) will end the year on a strong note, exchanges are gearing up to cater to both new and experienced crypto traders. Although BTC has struggled to surpass a long-term resistance level above $13,800, there's optimism for a new 2020 high exceeding $14,000.
