Top 3 Chinese Bitcoin Exchanges Start Charging Trading Fees to Curb Market Volatility & Manipulation



The top three Chinese (OKCoin, Huobi, BTCChina) bitcoin exchanges halted margin trading last week in a bid to appease PBoC regulators. Over the weekend, OKCoin and Huobi also announced new trading fees of 0.2 per cent. BTCChina said the fees were aimed at reducing excessive volatility:
“To further curb market manipulation and extreme volatility, BTCChina will start charging fees for bitcoin and litecoin trading from 12:00 p.m. (noon) UTC+8 on Tuesday, January 24th.”
Furthermore, BTCChina clarified that the trading fees will apply to both market makers and market takers. The new fee schedule applies to two digital currencies:



Similar policies were implemented by OKCoin and Huobi on Sunday. Today, Chinese digital currency exchange Yunbi, which accounts for 0.85% of daily bitcoin turnover, according to data from coinmarketcap.com, also announced a 0.2% trading fee for bitcoin trading pairs.

The Yunbi bulletin states:
“To further prevent speculation and sharp fluctuations of Bitcoin prices. Yunbi will start charging Bitcoin trading fee from January 24, 2017 at 12:00 noon (UTC+8).”
Unlike BTCChina’s fee schedule, Yunbi said it will only charge fees on bitcoin pairs, excluding litecoin and other blockchain assets.

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1 comment :

  1. About time. Bitcoin volatility has been under suspicion of being the result of manipulation by serious market watchers for some time. The continual hype, growing evidence of coordinated pump and dump action, and deliberate exaggeration of volume on some exchanges has been suspected by many analysts. The reforms being introduced will help generate greater confidence and give us a chance to better understand the true value of Bitcoin relative to other currencies.

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