Kataryna Kovtun August 5, 2020
Table of Contents [hide]
- 1 BitXmi Trading Fees. All the Benefits you Need to Know
- 1.1 BitXmi Trading Fees
- 1.2 Exchanges Without Trading Fees
- 1.3 Conclusion
BitXmi Trading Fees. All the Benefits you Need to Know
Many traders today are switching from stock markets and foreign exchange markets to cryptocurrency exchanges. Trading in virtual currencies is somewhat different from classic trading. First of all, this difference is the size of fees for trading operations charged on crypto exchanges.
So, let’s consider the options for trading fees on popular crypto exchanges:
As you can see, on most crypto exchanges, the trading fee depends on the volume of trades, trade with leverage, or the commission is taken from both sides of the transaction.
BitXmi Trading Fees
The BitXmi team is always transparent in their interactions with clients. When trading on our exchange, you do not have to worry about the number of fees when concluding trade transactions. Our commission is always 0.1% from the buyer.
Alternatively, you can pay 100% of trading fees using the platform’s native token — BXMI. The minimum commission will be from 1 BXMI. Read about all the benefits of buying BXMI here.
Exchanges Without Trading Fees
There are cryptocurrency exchanges where most of the commission fees are absent at all. Everyone needs carefully consider the option of moving to such exchange. A quality service on which financial transactions are performed cannot function without interest payments from traders or investors. You need to pay the employees of the exchange — developers, marketers, employees of the financial department, consultants, etc. Commissions are mostly intended for this.
If the advertising of the trading platform indicates that there are no commissions or they are, for example, only on withdrawals, then you can expect the following:
- Hidden interest. Nowhere are additional fees openly indicated, for example, on the daily trading volume. For example, if a trader’s turnover for a trade exceeds 1 BTC, there will be no commission today. And tomorrow the high tariff will be activated again. Such moments are deeply hidden in the explanations to the rules of the exchange;
- Poor quality of the trading platform. The organizers do not develop the project, so there is nothing to charge traders for. Here is a primitive chart, there are no indicators, no Depth of Market — that is, everything is extremely simplified;
- Compensation for other fees. This is a tricky move used on many crypto exchanges. They probably don’t have a deposit fee. Perhaps a symbolic percentage for trade or exchange operations has been set. But the commission paid by the trader for the withdrawal of cryptocurrency or fiat will be so high that it will cover the amount not received by the service.
You need to carefully study everything and not rush to transfer fiat money or crypto coins to the trade balance. It is better to work with sites where all fees are balanced.
Today, crypto traders have a huge selection of exchange platforms where cryptocurrencies are traded. A trader, especially a beginner, needs to browse through the many cryptocurrency brokers to settle on a convenient option. It is impossible to rush to transfer currency. You should not rush to transfer currency. You should study the functionality of the cryptocurrency exchange, commission interest on it, rules, conditions, etc.. Everyone will be able to find the most acceptable platform for comfortable and profitable crypto trading.