Bitcoin Resilient After Chinese Exchanges Start Charging Transaction Fees
As the biggest Chinese exchanges announce the implementation of transaction fees, Bitcoin, once again, shows off its inherent capacity to quickly adjust to the ever-changing environment, and to not only recover from adversity but to also get stronger. The latest shock resulting from the imposition of transaction fees by Chinese exchanges caused bitcoin....
Related News
There’s a lot of changes happening with Chinese bitcoin exchanges lately in light of the recent central bank inspections. Last week the top three exchanges within the region drastically changed margin lending services. Now more revelations have come to light as these companies plan on charging their customers trading fees starting at the end of January.....
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....
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....
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....
Four major Chinese Bitcoin exchanges including BTCC, Huobi, OKCoin and Yunbi have officially begun to charge trading fees to all users, traders and investors, as of Jan. 24, 2017. BTCC, the world’s oldest and largest Bitcoin exchange, first announced its plans to implement trading fees on Jan. 20. OKCoin, Yunbi and Huobi shortly followed BTCC, announcing their official decisions to charge trading fees to Chinese users within 24 hours since the announcement of BTCC. Why did Bitcoin exchanges introduce fees? All three Bitcoin exchanges that were previously inspected by the People’s Bank of....