myCryptoWallet, one of Australia’s leading cryptocurrency exchanges, today has announced that it will become the first Australian cryptocurrency exchange to offer zero fee trading.
The removal of fees will take effect on Wednesday, February 6th and will apply to all cryptocurrencies available including: Bitcoin, Ethereum, Ripple, Litecoin and Power Ledger.
“We want to give cryptocurrency traders and enthusiasts the best trading experience,” myCryptoWallet CEO Jaryd Koenigsmann said. “Some of the fees exchanges charge are through the roof, and are a big hit to trading profits. We’re introducing zero fee trades to make the myCryptoWallet trading experience even better and more profitable for our customers.”
In a further update, CryptoWallet says they intend to add more than 50 new coins to the platform in 2019.
“Our customers have been telling us they want more trading options and flexibility on our platform, and we’re excited to be adding dozens of new coins in the coming months. These will be handpicked by our team and carefully vetted prior to listing.”
Today’s announcement follows a recent battle between myCryptoWallet and its previous banking partner, which led to thousands of customers having their funds locked on the platform and temporarily prevented withdrawals.
The situation has since been rectified and myCryptoWallet customers will have their funds returned this week. However, the company is still seeking answers about the account closure.
“We’re still yet to receive an explanation from the National Australia Bank as to why the account was closed,” Koenigsmann said.