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The cryptocurrency trading sphere is slowly warming up to zero-fee trading. The trend first started with exchange-traded funds and then moved up to online stock platforms. The recent exchange to start offering zero-fee trading is Shapeshift. Let us have a look at trading platforms offering zero-fee trading. 

Will ShapeShift See An Increasing In Trading Volume

ShapeShift will now begin offering free perpetual trades. Interestingly, offering zero fees trading brought benefits for Charles Schwab Corp. The latter recently reported opening 142,000 new trading accounts in October- a 31% jump from September after introducing zero trading fees.

“We’ve definitely seen how people often need very simple messages,”

Erik Voorhees, the Denver-based chief executive of ShapeShift, said in a phone interview.

“Everyone understands free. We expect a 30% increase in trade volume.

Execute Free Transactions With Fox Tokens

For executing free transactions, traders will need to use Fox tokens that ShapeShift is rolling out.  Every user ShapeShift.com will get 100 free tokens, and the exchange may sell additional ones. Also, more FOX tokens a customer holds, more fee-free trades can be executed. Furthermore, Voorhees estimates that 90% of the exchange’s users will be able to do all their trades for free.

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Exchanges Offering Zero- Fee Trading

Daily-trading volume in crypto exchanges is half of what it was in late October. As per data provided by CoinMarketCap, the percentage of exchanges offering no-free trading is about 10%. Smaller Exchanges are offering zero-fee trading as a part of promotions.  

Robinhood Crypto is also a major provider of zero-fee crypto trading, allowing users to trade seven major cryptocurrencies with no commission fee. In late September 2019, California-based financial firm SoFi launched zero-fee crypto trading on its platform SoFi Invest.

The list further includes Zebpay, which introduced zero-trading fees in February. Also, HitBTC lowered its trading fees in August. While leading crypto exchange Binance doesn’t offer zero- trading fee, it lets users lower their trading fees by investing in its own cryptocurrency. BitMEX is among the leading platforms offering zero trading fees. 

BitMEX

BitMEX offers zero-trading fee exchange for 8 coins and 14 trading pairs. The most active trading pair on Bitmex exchange is XBT/USD. The platform boasts of a 24-hour trading volume of $1,91,58,45,292 

Cobinhood

Cobinhood is a Hong Kong-based crypto exchange. The platform allows 0% trading fees. It also offers initial coin offering (ICO) underwriting services.

Liquid

Another exchange that offers zero-trading fees is Liquid. This  Japan-based exchange has a 24hour trading volume of $8,84,57,664. Presently, the exchange allows, trading of 173 crypto assets. 

While exchanges like Coinbase have reported having made $2 Billion in a span of 1 year only from trading fees. It will be interesting to note, how well in the long run, exchanges offering zero trading fees fare. Let us know what you think in the comments below!

 

Summary

Is Zero Commission Trading Helping Crypto Exchanges? A Realistic Take

Article Name

Is Zero Commission Trading Helping Crypto Exchanges? A Realistic Take

Description

The cryptocurrency trading sphere is slowly warming up to zero-fee trading. The trend first started with exchange-traded funds and then moved up to online stock platforms. The recent exchange to start offering zero-fee trading is Shapeshift. Let us have a look at trading platforms offering zero-fee trading. 

Author

Supriya Saxena

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Coingape

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cryptocoach

Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.

Disclaimer
The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.



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Supriya Saxena , 2019-11-21 10:04:40 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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