Bybit, one of the largest derivatives trading platforms, has introduced a feature that will not charge a fee for all spot trades.
This move is seen as a competitive advantage.
The platform, which has hit a milestone of 10 million users, says the fee waiver is for the benefit of its customers.
Bybit's announcement on its website reads:
We celebrate 10 million users with zero fees for instant trading and more amazing perks.
The past eight months have been tough for the crypto industry, but in the midst of the gloom we continue to build and develop BUIDL.
On that note, we are very proud of our next milestone which is the power of 10 million users and the number is growing.
The advertisement, which is seen as a marketing strategy to attract more customers, will also reward new customers seeking to use the spot trading feature with up to $600 as a thank you for registering.
Among other perks offered by the company, it includes a no-fee promotion and this will not apply to fees for pending orders incurred prior to the promotional event starting on September 6th.
But what does the zero trading fee mean for clients?
Trading clients will be able to trade USDT options and USDC options contracts simultaneously via a consolidated margin account without moving assets back and forth across multiple accounts.
Profits and losses will also be accumulated, so as not to lead to liquidation.
It is worth noting that the trading platform “Bybit” is not the only one that has taken this path, since about a week ago Binance announced that it was waiving fees on the spot trading of 13 bitcoin pairs, including USDT, BUSD, USDC and EUR 5 years ago.
Posted using Tribaldex Blog
