BitFlyer Will Launch Discounted Crypto Trading Fees Structure

BitFlyer will launch a discounted crypto trading fee structure by the end of 2020 as the market prepares for a bullish end of the year. The crypto exchange will adopt a new discounted crypto trading fee regime which we learn more about in the latest crypto news.

BitFlyer will launch the discounted crypto trading fees structure for the users that place the company as having the cheapest trading costs charges in the United States. With the retail and institutional interest in crypto on a high, this move could see the exchange claiming an even bigger percentage of the market. During the increasing interest in crypto trading, there’s a need for the search for regulated exchange platforms. The Government regulators in different countries are paying close attention to the best practices compliance on the part of spot and derivatives trading services.

According to a press release, bitFlyer made wholesale changes to the crypto trading fee structure on the Lightning platform. Based on the details of the announcement, the maker/taker fees for volume below $50,000 will attract a fee of $0.1 percent while the volume above the $500 million that will see fees pegged at 0.03%. The exchange is also introducing eight crypto trading ties that are based on volume as users will be assigned to one of the fee categories which are based on the previous 30-day trading volume.

The new regime places the exchange as the regulated crypto exchange with the lowest fees in the US commenting on the move to a more discounted crypto trading structure as the BitFlyer COO and the head of the platform and the US division Joel Edgerton explained:

“At bitFlyer USA, we always look to add more value to our customers, and the simplest way to do that is to lower fees. We do not have any complicated requirements, allowing customers to simply focus on their trading strategies. It has long been our goal to increase crypto adoption through making bitFlyer the cost-effective, safe alternative for US retail and institutional traders.”

According to a press release, the new trading fee regime will come into effect on November 4 as users will have a few days to come to terms with the new changes. The traders could refer to the platform’s FAQ page and look for more information about the fees. The Trading fee reduction could drive more retail and institutional patronage for the exchange as back in 2019, the crypto community reacted negatively to Coinbase increasing the crypto trading fees for the retail users. according to BitFlyer, the fee plan will help to improve liquidity and order more depth for a seamless trading experience for the users.