HitBTC Cryptocurrency Exchange Offers Massive Rate Cuts

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In an industry where the average investor is chained by shackling exchange transaction fees, cryptocurrency exchange HitBTC has taken measures to increase the financial freedom of its users, from the bottom up. Here is a breakdown of how the new system will operate:

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By expanding the lower tiers and consolidating, HitBTC has freed up movement for everyday clientele while keeping in place the maker-heavy incentives for the larger architects of market liquidity. 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.

Maximizing liquidity and narrowing the spread on cryptocurrency markets, HitBTC employs what is called a “maker-taker” fee tier system. Maker-taker systems are fairly common in the industry and are used to reward users that create liquidity. When a user places a buy or sell order that is outside of the existing range on the order books, they are in effect making liquidity. By doing this they are paving the road for further asset movement on the exchange, whereas, if a user completes an order that already exists on the books, they are in effect taking liquidity off the board,” stated one of the team.

As part of a revamp of its trading fee tier system, the high octane cryptocurrency exchange has radically cut its user fees to market-leading lows and repositioned itself as one of the most advantageous places to trade in the cryptosphere. 

Hitbtc

With the new fee adjustment, HitBTC has enhanced the benefits all users stand to get from the tier system. At the lowest level alone — a 30-day trading activity that cumulatively adds up to a figure less than 10BTC — fees have been slashed from 0.1% for makers and 0.2% for takers to a flat 0.07% for both takers and makers. 

Since its founding in 2013, HitBTC has grown into one of the most active and established markets in crypto trading, with a reputation boosted by its history of uncompromised security. Noted as the largest spot trading market in the industry, with over 800 spot instruments and 400 assets available, HitBTC has been able to carve out a place for itself among today’s exchange titans. With the best liquidity on the market and upwards of $800 million in daily transactions, the exchange draws from a massive user pool which stands to directly benefit from the new fee adjustment. 

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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