In a few days, one of the most expected cryptocurrency exchange will be launch. Since they announced the launch of Upcoin, many people tried to find some information about who’s in their team, who’s the owner and many more. We couldn’t find out neither so we’ll present you the fee structure at UpCoin.
As requested mainly by the UPcoin community, UPcoin has responded to the question most asked which is about the fees collected by UPcoin on their platform.
Trading fees at UPcoin are set at 0.1% for makers and 0.2% for takers.
Who Are The Makers and Takers?
Anyone who places an order below the CMP (Current Market Price) of an asset for purchasing or above the ticker when selling, adding liquidity to the market is acting as a market maker. Such an individual pays a fee of 0.1% on transactions.
Filling orders at the current price at any particular rate means the user is taking liquidity from the market and is therefore subject to pay a higher transaction fee of 0.2% as a market taker.
Fees On Cryptocurrency Deposits
UPcoin states that they will charge no fee on deposits of cryptocurrencies.
Fees On Withdrawals
UPcoin will not earn on withdrawals either. Nevertheless, every network has its charges on their network; the fees are required to initiate transactions on the network. These fees are also subject to change depending on their blockchain conditions.
Support for Fiat and Fees
UPcoin intends to support fiat transactions on the platform from the second quarter of 2018.
UPcoin, a new cryptocurrency exchange among others is about to knock out other exchanges already in operation as it launches its new platform into the market.
With exchanges closing down on fiat transactions with just a few offering the service to selected regions, UPcoin will make fiat exchange available to the global market of cryptocurrency traders.
Even though their fee is a bit higher than the Binance one, the fact that they don’t require a fee upon withdrawal is making Upcoin a more interesting and promising project.