Bittrex Grows Its European Reach, to Enable Fiat Trading in Euros and Also Lowers US Trading Fees
- US-based crypto exchange Bittrex is set to expand its operations into Europe.
- The American exchange operator has made some important announcements regarding trading fees charged on its platform.
An exciting announcement has come out of Bittrex on June 12, 2019, as they have formally announced that they will be lowering trading fees for the United States-based customers and will also expand into new European markets.
“For the first time in its history, Bittrex is offering lower trading fees on its US dollar markets. Additionally, Bittrex is announcing today that Euro markets are coming this summer, allowing fiat trading in Euros for the first time ever,” their statement said.
The European expansion will be coming later this summer and will allow fiat trading in euros for the first time in the history of the company. For their United States customers, trading fees will be significantly lowered with 0 maker and 0.15 percent stake options.
For those customers who have generated more than $30,000 in trading volumes since joining the platform, the lower transaction fees will be automatic and this promotional period will last for one month. After the one-month period is completed, a new fee schedule with volume-based USD market fees will then be applied to customers who qualify on both Bittrex.com and Bittrex International.
These promotional rates do not only apply to those accounts as an account with significant volume may also qualify for these USD market is immediately and the promotional month will end on Wednesday, July 3, 2019, at 5 p.m. PT.
Breaking New Ground
Bittrex has been on a massive expansion since the beginning of this year as in January they announced that they would launch an over-the-counter trading desk.
“This offering will be another way for Bittrex to further advance adoption of blockchain technology worldwide, while also providing our customers with price certainty and a fast and easy way to trade large blocks of digital assets,” the announcement said.
The company has been in existence since 2013 and is ranked 58th in terms of overall trade volume.
New Fee Schedule to Be Introduced After 1 Month
It is also no surprise that Bittrex is expanding into Europe as the European market is one of the big emerging markets in the world for cryptocurrency and the favorable regulations that are being put in place by the various European governments are also encouraging towards various businesses. Coinbase announced a similar expansion this week and it seems everyone is trying to get a piece of the European pie. The reduction in trading fees will also be a huge boost and encourage traders who already have high trading volumes to continue to make use of Bittrex.
While institutional growth has been taking place within the crypto industry, it is also important to keep individual traders in mind as they were the initial backing behind the crypto industry before adoption was achieved at an institutional level and also because individual traders are capable of making high-volume transactions as evidenced by Bittrex’s reward for traders who have conducted a minimum $30,000 transaction volume.
By moving into new and lucrative territories and also rewarding loyal and profitable customers. Bittrex is securing its place within the crypto market both within the United States and outside.