Home News Coinmate.io crypto exchange started applying negative fees to high-volume traders

Coinmate.io crypto exchange started applying negative fees to high-volume traders

European crypto exchange, Coinmate.io, has introduced negative fees for high-volume traders. Customers who have a monthly trading volume of €3,000,000 (three million euros), will automatically be paid 0.05 per cent on further trades if they are on the ‘market maker’ side of the transaction.

Roman Valihrach, CEO of Coinmate, says: “I believe that negative fees are a world first among crypto currency exchanges. The trend has always been to lower costs as the market matures and Coinmate.io continues to lead the way with lower fees. Crypto trading markets are growing massively and big players have realised they need to step in or miss out. With negative fees we hope to attract more high-volume institutional traders to our platform.”

“At first glance, the economics of negative fees would seem contradictory for a crypto exchange. But ‘market maker’ transactions have lower fees because they breathe life into the market by improving liquidity. We justify paying customers to trade because we want to reward those who trade more and drive the market forward,” – Olga Bersheva, communications director, Coinmate, explained.

“Coinmate, of course, still gets paid by the ‘market taker’ side of the transaction, although those fees are on the very low end of the scale and also decrease with volume,” – she added.

Paying traders to trade as part of the normal fee structure is a groundbreaking culmination of fierce competition among exchanges.