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    Circle's Poloniex Exchange Lowers Trading Fees and Automates Cost Structure for Users

    Cryptocurrency exchanges across the world are in a heavy battle for the increasing market share of investors. Despite the rapid market growth of the industry, exchanges are deploying different strategies to dive deeper in the blue ocean market. Poloniex cryptocurrency exchange is the latest to take up the challenge with a massive reduction in the trading fees. The exchange will further reduce the tier levels of the trading fees from 11 to just three.

    The announcement made by Circle editor, Christina Pawlikowski, confirmed the traders on the exchange will experience lower trading fees starting this Wednesday, 6th March 2019. Poloniex exchange is structured in a volume-tiered, market maker schedule where the fees charged are deduced on per-trade basis.

    Basically, the more “total volume” you trade on a rolling 30 day basis, the lower your fee on subsequent trades. The exchange will calculate your fees based on your last 30 days of trading volume based on the daily average of the BTC-USD rate (24-hour weighted average price) and dynamically adjust your fees accordingly in the three tier levels below.

    https://cdn-images-1.medium.com/max/533/0*_UAfvO0xX1K91C9U.png

    New fees on Poloniex cryptocurrency exchange effective 6th March 2019 (Poloniex)

    For trading volumes below $1 mln USD, the maker pays a fee of 0.08% while the taker pays 0.02%. Monthly trading volume above $1 mln USD to $20 mln USD will have the maker’s and taker’s fee set at 0.02% and 0.15% respectively. Finally, if your monthly trading volume for the trailing 30 days is above $20 mln USD, the maker does not pay any trading fees while the taker pays 0.10% in fees.

    The latest upgrade on the platform is set to improve customer experience and come on the heels of technical upgrades, asset listings, and new features that better the user experience on the exchange.

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    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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