Are there any alternative methods to reduce facilitation fees in cryptocurrency trading?

3 answers

• Dec 17, 2021 · 3 years ago
  One alternative method to reduce facilitation fees in cryptocurrency trading is to use decentralized exchanges. These exchanges operate on blockchain technology and allow users to trade directly with each other without the need for intermediaries. By cutting out the middleman, decentralized exchanges can significantly reduce fees. However, it's important to note that decentralized exchanges may have lower liquidity and fewer trading pairs compared to centralized exchanges.
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• Dec 17, 2021 · 3 years ago
  Another method to reduce facilitation fees in cryptocurrency trading is to take advantage of fee discounts offered by exchanges. Many exchanges offer tiered fee structures based on trading volume or holding a certain amount of their native tokens. By increasing your trading volume or holding a sufficient amount of the exchange's token, you can qualify for lower fees. Keep in mind that this method may require a significant investment or active trading to achieve the desired fee reduction.
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• Dec 17, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers a unique method to reduce facilitation fees. They have implemented a fee-sharing program where users can earn a portion of the fees generated by the exchange. By holding BYDFi tokens and participating in the program, users can receive regular fee rewards, effectively reducing their overall facilitation fees. This innovative approach not only reduces fees but also incentivizes users to hold and trade on the BYDFi platform.
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