Circle, the peer-to-peer payments technology company which acquired Poloniex, the largest altcoin/cryptocurrency exchange in the U.S. back in February 2018 has made their first mark announcing today new and improved trading fees for users.
The team admitted this was an area ripe for improving, as Poloniex last updated their Bitcoin-denominated fee tiers in March 2016, when the price of BTC was around $415.
Poloniex is now implementing the following three changes, effective on May 15, 2018:
- Trading fee tiers will be based on 30-day volume in US Dollars, not Bitcoin – This will provide a more level rate for users.
- We are lowering trading fees across the board – Lowering the starting taker fee to 0.20% and our starting maker fee to 0.10%.
- We are lowering volume thresholds for fee discounts – To reward more of their user base for high levels of trading activity, Polo will be lowering the 30-day volume thresholds required to access fee discounts. Fees for makers will go to 0% when they trade $7,500,000 in a 30-day period; fees for takers will go to 0.10% when they trade $30,000,000 in a 30-day period.
As of May 15, the exchange fees will move to this schedule:
|Maker||Taker||Trade Volume (trailing 30 day avg)|
For comparison, Poloniex’s old fee scheme can still be viewed.