Crypto.com slashes trading fees by up to 80% to democratize crypto trading and help users weather the current crypto storm
With almost all the cryptocurrencies in the bear market territory after falling from their record highs, Crypto.com has just announced a reduction in its trading fees to help Crypto.com Exchange users weather the ongoing crypto storm and get more out of their trades.
In a post on its website, Crypto.com announced the reduction of its trading fees by as much as 80%. That’s not all. The crypto exchange platform also announced additional incentives for staking CRO, adjustments to staking CRO rates, and more. The new trading fee structure also lowers the barrier to cryptocurrency trading and features enhanced benefits for CRO stakers.
“To democratise cryptocurrency trading and enable Crypto.com Exchange users to get more out of their trades, we’re pleased to announce that trading fees have been reduced by up to 80%,” Crypto.com wrote.
To further enhance the trading experience for its exchange users, Crypto.com also implemented several upgrades to its Spot and Derivatives markets. Below is a look at some of the major highlights and upgrades from the Crypto.com blog post:
Spot and Derivatives markets:
• Trading fees now start from 0.075% and 0.034% for the Spot and Derivatives markets, respectively. No minimum trading amount is required.
• The trading fee structures for VIPs and the Spot, Margin, and Derivatives markets are now simplified. They are easier to understand and advancing through the tiers is more straightforward.
• All traders can now attain 0% maker fees
• The gap between maker and taker fees has been reduced, letting users trade on their own terms
New incentives and additional trading fee benefits for staking CRO:
• CRO stakers receive an immediate fee reduction
• Additional trading fee benefits are granted for staking as little as 1,000 CRO
• Guaranteed 0% maker fees – users who stake at least 50,000 CRO will enjoy 0% maker fees across all tiers
• Get paid to trade – users who stake at least 100,000 CRO will benefit from negative maker fees across all tiers
*Applicable for Retail Tiers 1-5
Last but not least, Crypto.com also introduced VIP trading tiers that start at >0.1% of the Total Exchange Volume for the Spot and Derivatives markets (vs. >1% previously). Now, every VIP tier can achieve 0% maker fees.
Founded in 2016, Singapore-based Crypto.com is a pioneer of payments and cryptocurrency with a mission to accelerate the world’s transition to cryptocurrency. The startup is working towards this goal with its portfolio of consumer products, including the Crypto.com Wallet & Card App, the MCO Visa Card, Crypto Invest, Crypto.com Chain, as well as Crypto Credit.
To date, Crypto.com now serves over 5 million customers today, providing them with a powerful alternative to traditional financial services through the Crypto.com App, the Crypto.com Card, and the Crypto.com Exchange. The Crypto.com Wallet allows users to buy, sell, and pay with cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Binance Coin (BNB), and Crypto.com’s MCO and CRO Tokens.