HitBTC, a bitcoin and cryptocurrency exchange company founded in 2013, has announced the overhaul of its maker-taker fee tier system which includes significantly reduced transaction fees.
The old tier system had 15 levels, ranging from 30-day trading volumes of less than 100 BTC to volumes of greater than 6 million BTC. The new tier system being implemented, is designed to better accommodate all users of the exchange, while centering on the activities that are most common.
Now, going forward, the 15 previous tiers have been consolidated into 10, and fees have been slashed across the board, see below for the details:
HitBTC New System
The lowest tier now applies to 30-day trading volumes of less than 10 BTC, with fees reduced from 0.1% for makers and 0.2% for takers to an overall 0.07% for both categories.
For upgraded accounts, HitBTC utilizes a trading fee tier system, rewarding community members for high volume trading. The fees for the rest accounts are fixed at 0.1% maker fee and 0.2% taker fee.
While the maker-taker system is designed to encourage liquidity positive activity on behalf of traders, the exchange intends for the changes to further stimulate liquidity by freeing up members of the first bracket class from restrictive transaction fees.
The incentives continue to increase as the tiers are climbed, but now users are provided with a lower fee threshold at the most basic level of engagement on the exchange.
“Moving forward, we hope that this fee slash comes to mark the beginning of a period of growth for our platform, both in terms of community and product. The process of refinement—for anything worth refining—is never-ending, and we are honored that you are coming along with us on this journey.”
– The HitBTC Team