In Brief
The Trust Project is an international consortium of news organizations building standards of transparency.
Trading companies are moving to waive trading fees to attract more customers and to make crypto as accessible and inclusive as possible.
Bybit, one of the biggest derivative exchanges, has introduced a feature that will have zero fees for all spot trading. It is a move seen as too good to be true, and investors are questioning whether they are rebalancing profits elsewhere. The platform which marked a ten million user milestone, says waiving fees is for the good of its customers.
“Celebrate 10 million Users With 0 Fees on Spot and More Amazing Perks,” Bybit announced on its website. ”The past eight months have been rocky for the crypto industry, but amid the doom and gloom, we continue to buckle down and BUIDL. On this note, we’re extremely proud to hit our next milestone a strength of 10 million users and counting” added Ben Zhou CEO of Bybit
Bybit announces more perks
The announcement, which has been viewed as a marketing strategy to attract more customers, will also reward new customers seeking to use the spot trading feature with up to $600 as a thank you for signing up.
Among other perks the company has introduced, include zero-fee promotion and this will not be applicable to pending order fees incurred before the promotional event which begins on September 6.
But what do zero trading fees mean to customers? Trading customers will be able to trade USDT perpetual, and USDC options contracts concurrently via the unified margin account without transferring assets back and forth across multiple accounts. The profits and losses will also be compiled, so as not to trigger liquidation.
Binance restructured to make money without BTC trading fees
Bybit is not the only one, about a week ago, Binance also announced that it was waiving fees on spot trading for 13 BTC trading pairs, including USDT, BUSD, USDC, and EUR as it turned 5 years.
‘’We’re proud to have introduced zero trading fees on several BTC pairs, but we understand that many of you still have some questions. Let’s take this chance to iron out the details and lay to rest any misconceptions about the change’’ Binance announced in a statement.
Despite the marketing gimmicks to champion positivity among retail and Institutional investors, who are supposed to be the beneficiaries of such initiatives, say they are still clogged with confusion stemming from the troubles in the financial markets.
For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here.
Disclaimer
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Share Article
Related topics
Remmy Bahati
Remmy Bahati, es reportera de cripto y tecnología en BeInCrypto y reside en Nueva York, EE. UU. Tiene una Maestría en Ciencias en Periodismo de la Universidad de Columbia en la ciudad de Nueva York. También trabaja para Law360 como Asistente de Noticias Legales monitoreando el Congreso de los Estados Unidos, los tribunales federales y estatales. No solo eso, sino que también trabajó para las Naciones Unidas en el departamento de comunicaciones globales. Productora de televisión, editora de video y escritora, ha colaborado con CNN, Columbia News Service, New York Times digital, NBS TV, TRT World, BBC, Huffington Post y Citizen TV.
Follow Author
More Articles
RELATED NEWS
MarketsTechnical Analysis
Dogecoin (DOGE) and Shiba Inu (SHIB) Start Correction After Bull Trap
1 hour ago
MarketsNews Report
dYdX Cancels $25 Deposit Bonus Campaign After Twitter Roasts Webcam ‘Liveness Check’
2 hours ago
MarketsNews Report
Crypto & Stock Markets Jump on August Jobs Data
3 hours ago
MarketsNews Report
Switch to Proof-of-Stake More Secure, Says Buterin Ahead of Merge
3 hours ago
MarketsAnalysis
Ethereum Mining Revenue Soars to 3-Month High in Last Full Month of PoW
5 hours ago
Revolut X is expanding across 30 European markets, offering advanced crypto trading tools and enhanced security. The platform caters to serious traders with access to over 200 cryptocurrencies and low fees, while Revolut also develops a stablecoin for faster cross-border payments.
AnaisCoinbase has explored the possibility of setting up a cryptocurrency trading platform outside of the US.
BitcoinistOpenSea’s decision comes after a challenge from one of its competitors – BLUR.
cryptopotatoThe move, granted by a British Virgin Islands court in November, allows officials to seek restructuring advice.
CoindeskThe move is a shot at rival stablecoin issuer Tether.
BeincryptoThe exchange will also offer additional trading fee discounts to customers who pay their trading fees with BNB tokens.
CoindeskOffering zero-fee trades for linear perpetual swaps (up to 8 trading pairs) Official Cryptocurrency Exchange to be launched by October ...
BitcoinistIt appears that the rising popularity of Bitcoin and other cryptocurrencies — despite the continuous carnage on the broader crypto ...
BitcoinistA trading bot platform has announced its new product feature that allows traders to make decisions based on TradingView signals.
CointelegraphThe function enables users to speculate on future prices of cryptos and settle their trades using USDC.
Cointelegraph