Huobi Global, one of the top spot cryptocurrency exchanges by liquidity and trading volume, is adding a discount programme that can potentially give individual traders on the platform up to 83% off on trading fees.
The discount programme is a part of Huobi’s 2020 pricing stategy to snatch spot cryptocurrency market shares and part of broader strategy of Global Expansion, by enticing existing traders of spot market, Huobi VP Ciara Sun said in an AMA event. The trading fee discounts cards can only be purchased with Huobi’s platform token HT. The new programme is assessible on the firm’s web trading interface and will be available on the mobile version at a later date.
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“This pricing strategy can be a powerful add-on to our existing advantage on liquidity and trading volume. Competing on price is a usual tactic that works and is used by top-tired cryptocurrency exchange, including Binance and OkEX.
The current change is meant to provide individual traders the premium rates – from 0.1% to 0.0336%, which were only available to professional traders.
We conducted a survey on a large group of traders from over 130+ countries and regions and found that the primary factor when choosing a platform is a low trading fee. Therefore, we made changes to lower the trading fees relative to user demand,” said Ciara Sun.
The firm has launched a series of trading fees adjustments last month, by announcing a 30% discount for professional traders on June 15 and an exclusive rate of 0.055% for the Indian market in early July.
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