Several Chinese Bitcoin Exchanges Halt Trading Fees in Fight For Volume
Several bitcoin exchanges in China have - as of today - halted trading fees in what could be called an epic battle for bitcoin volume. The exchanges include the ever-so-popular BTC China, OkCoin, BTCKan, and BtcTrade. It's all the more reason for the Chinese to get involved with the market - especially since developing an account-funding workaround by offering cash-for-vouchers (BTC China) in light of recently events that have money transmitters in China staying far, far away from bitcoin exchanges. Will it be the start of a new bubble? It's unclear, but we're in for an exciting ride in....
Related News
In the long run, suppressing volatility and speculation will be positive for the bitcoin market. Bitcoin trading volume has been plummeting across all major Chinese exchanges. That is not entirely unexpected, considering these platforms have removed most of their margin trading options. Moreover, trading fees have been reinstated across Chinese exchanges, which will heavily impact trading activities. For the time being, this has not impacted the Bitcoin price all that much, though. The one-hour trading volumes across most major Chinese bitcoin exchanges took a big hit. Earlier tonight,....
Most of the Bitcoin trading volume is changing hands across Chinese bitcoin exchanges. Therefore, Chinese exchanges are feeling pressure to come up with new and innovative features to preserve their dominance and expand bitcoin adoption. OKCoin, one of China’s leading bitcoin exchanges, is attempting to do exactly that. There are a few things all Chinese bitcoin exchanges have in common. For starters, all of these platforms are exchanging bitcoin against the Chinese Yuan (CNY). Furthermore, major Chinese bitcoin exchanges such as OKCoin, BTC China, and Huobi all offer 0% spot fees on the....
Despite the fact that major Chinese exchanges have seen their bitcoin volumes take a hit after introducing trading fees, these bourses still stand out as some of the top marketplaces when ranked by volume, according to market data. OKCoin, BTCC and Huobi experienced significant declines in trading volume after they began charging fees, beginning on 24th January. The decision to charge these fees built upon their earlier move to eliminate margin trading – two developments which thus far have had a clear impact on the market. The shift came amid scrutiny from Chinese regulators, including....
All things considered, it looks like Chinese Bitcoin exchanges are evolving in the right direction. Chinese Bitcoin exchanges have operated on the promise of not charging trading fees for quite some time now. Instead, most trading platforms made a lot of money from their margin trading opportunities. Now that most exchanges no longer offer high-value margin trading, they also see a large source of revenue disappear. It is likely a lot of these platforms will reintroduce trading fees over the coming weeks. Operating on 0% trading fees was never designed to be a long-term solution for....
Starting tomorrow, China’s largest bitcoin exchanges will begin charging trading fees at a flat 0.2 percent for every transaction. The changes stemming from the People’s Bank of China’s involvement in bitcoin trading activity between China’s biggest bitcoin exchanges continue. Within days of BTCC, Huobi and OKCoin formally announcing the halt of margin or leveraged trading for Chinese users, the three exchanges will now begin charging traders a flat fee of 0.2% per transaction. An announcement from BTCChina this Sunday read that charging fees for bitcoin and litecoin trading will commence....