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Poloniex lowers the fees for high volume traders

Poloniex Exchange introduced a new fee schedule called maker-taker which will be compulsorily implemented on March 20, 2016.

What is Maker-Taker?

Maker is the one who place buy/sell orders on the order list. The orders haven’t been executed yet and are waiting for the taker to trigger. The taker is placing buy orders at the lowest asking price on the top sell order list (left) or placing sell order at the highest bid price on the top buy orders list (right). Maker provides liquidity on the market and taker is moving the market. They are the two essential parties for any trade.

What is the fees?

Maker Taker Trade Volume (trailing 30 day avg)
0.15% 0.25% < 600 BTC
0.14% 0.24% ≥ 600 BTC
0.12% 0.22% ≥ 1,200 BTC
0.10% 0.20% ≥ 2,400 BTC
0.08% 0.16% ≥ 6,000 BTC
0.05% 0.14% ≥ 12,000 BTC
0.02% 0.12% ≥ 18,000 BTC
0.00% 0.10% ≥ 24,000 BTC

Poloniex will calculate your fees based on the last 30 days of the trading volume every 24 hours. This scheme is for both spot and margin trading.

What is it for?

The more the amount of bitcoin is traded at poloniex, the lower fees the traders have to pay. This new scheme is meant to attract more traders to their platform. If maker’s  trading volume in 30 days can exceed 24,000 BTC, the trading fees will be completely free. I think there are few of traders who are qualified for this.

For the most traders, their trading volume in 30 days will fall into the first category (< 600 BTC). If they act as  maker, the fees will be lowered from 0.2% to 0.15%, have been reduced 25%. But if they act as taker, the trading fees will be increased 25% to 0.25%.

This scheme is to increase the market liquidity and reduce the spread between the highest bid order and lowest sell order. The traders will tend to act as maker for being charged less fees. If they rush to get order executed and intent to pay less trading fees at the same time,  they could place the orders whose price is close to the highest biding price if they want to sell coins, or to the lowest asking price if they want to buy coins. The platform is punishing the takers by taking extra trading fees from them. This will at some extent reduce the activities of pumping and dumping of the coins.

Poloniex Exchange

Poloniex is a pure crypto to crypto exchange located in the United States. With a fresh redesign in 2015 the site has added a wealth of features to provide a fully immersive trading experience. Recently it launched mobile theme , which is simple, responsive for mobile phone and gives great experience for the small screen traders. It provides Technical analysis charts for each trading pair. And Its live chat keeps the traders updated with the latest news flow and the real time analytic price trends let the traders know the market trend before placing a order.

there is good security and decent volume and order book depth for the majority of its trading pairs. Traders are trusting it and actively do the trading there.

It offers margin trading and lending as well.

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