Cryptocurrency exchange Korbit announced that it will hold a “no-trading-fee” event for all crypto assets traded at Korbit beginning from 9 a.m. on Oct. 20.
Customers can participate in the no-trading-fee trading event immediately without going through any additional procedures such as coupon registration. The event will continue until further notice.
In addition to the exemption of trading fees, Korbit’s maker incentive system will remain in place, so Korbit will not take any fees for existing maker orders, but will instead pay 0.01 percent of transaction amounts to customers.
Bithumb began no trading fees ahead of Korbit. At 6 p.m. on Oct. 4, Bithumb changed its trading fees from 0.04 to 0.25 percent of transaction amounts to 0 percent.
Since then, Bithumb’s share of the trading volume in the Korean cryptocurrency market has jumped from around 10 percent to around 20 percent, showing the effects of the no-trading-fee policy. Much attention is being paid to if Korbit will succeed in expanding its market share with the no-trading-fee policy like Bithumb.