Big news for the crypto trading space: CoinW announces all spot trading – free of charge
On July 13, 2022, CoinW made another major upgrade, announcing that all users of CoinW will not be charged transaction fees when trading in all spot currencies. Zero fees! This is another major breakthrough, after the official announcement on July 5 , by leading Crypto Exchange, that all BTC transactions, will be free of charge. This is not only the first platform in the network to adopt 0 transaction fee for spot trading, but also a long-awaited benefit for platform users.
As we all know, exchanges can provide investors with cryptocurrency trading, and in addition, there are many trading methods, such as spot trading, contract trading and OTC trading, depending on the strength of the exchange, but no matter which trading method, the exchange will charge some fees as the cost of maintaining the normal operation of the exchange. For example, in cryptocurrency trading, the buying and selling of cryptocurrencies both involve transaction fees, and this fee determines the final profit of investors to a certain extent, so investors pay great attention to the fees charged.
According to statistics, CoinW spot trading has a total of 342 coins and 366 trading pairs, with rich trading categories. The event of free transaction fee includes all coins of the platform, without any threshold, without any subscription service [ For more details please refer to the platform announcement rules]. As long as the spot transaction are free of charge, it is real money for the users.
These two innovations in ten days reflects CoinW’s social responsibility, as the world’s leading cryptocurrency trading platform. CoinW’s CEO said, “CoinW needs to take more social responsibility and not rest on its laurels, but keep breaking through. This whole site spot trading free of charge event is the first innovation and major creation in the cryptocurrency exchange industry. On the one hand, it benefits the users; on the other hand, it attracts more potential users based on the existing users. 0 transaction fee allows CoinW users to be one step ahead at the beginning of the race, and only need to devote themselves to trading without worrying about the cost. This can significantly increase user interaction, while bringing competition and challenges to the industry.”
It is undeniable that deducting fees is good for users, but the free transaction fee model is only a way to attract users to enter. What matters is the convenience of using the platform, the safety of funds and the comprehensiveness of functional services. As a stable and safe trading platform, CoinW has experienced two rounds of bull and bear market turnover since 2017 and still operates stably, which shows its strong strength. Not only that, CoinW also has sufficient liquidity, intelligent risk control system, authoritative compliance regulation, bank-grade capital security, global strategic layout and perfect ecological system, and has set up 16 localized trading service centers in 13 countries around the world and gained the affirmation of 7.5 million users from all over the world.
From historical data, spot trading fees are the main source of income for cryptocurrency exchanges, but with the adoption of revenue diversification strategies by exchanges, the profit model is gradually enriched, and the promotion of free transaction fee can be supported by profits from other business segments, so it is a general trend to reduce the fee. At the same time, CoinW will continue to uphold the concept of “user first”. Based on the user’s benefit, CoinW will continue to care for and benefit the users, so as to lead the healthy development of the whole cryptocurrency exchange industry ecosystem.