In February, the American stock exchange Poloniex for $400 million bought the company Circle. As you know, “a new broom sweeps on-new”, and proved that the new owner of the exchange.
According to representatives of Circle, they decided to make Poloniex worthy competitor to the current leaders among cryptocurrency Alemannic:
Here at Circle, we study thoroughly every aspect of the user interface Poloniex. There is one obvious point that is ripe for improvement is our trading fees.The last time we updated our fee in bitcoins in March 2016, when the price of BTC has remained relatively stable at about 415 dollars. Since then the world has changed — especially if we talk about the cost of cryptocurrency!
To correct the shortcomings Poloniex introduces three changes that will come into force on 15 may 2018:
- The fee will be calculated on the basis of 30 day trading volume in U.S. dollars and not in bitcoins. This is due to the volatility of cryptocurrency.
- The size of all of the commissions will be reduced to 0.20%, and the start — up fee- up to 0.10%.
- The exchange reduces the 30-day limit of the trading volume required to receive the discount. Commission for makers will be zero with a trading volume of $7.5 million for a 30-day period; the Commission for traders will be 0.10 percent with a trading volume of $30 million for a 30-day period.
Commission as of may 15:
When purchasing the stock exchange Circle promised that the first thing to provide customer support and pay attention to technical problems, the solution of which is necessary to operate the platform Poloniex. At the time Circle was one of the most well-funded blockchain startups, and his circle of investors includes such giants as Goldman Sachs Group and the Chinese search engine Baidu. It seems that the main goal of Circle is to make Poloniex direct competitor Coinbase is realized before our eyes.