Bitcoin

<p>South Korean cryptocurrency exchange Bithumb has <a href="https://cafe.bithumb.com/view/board-contents/1644160" rel="noopener noreferrer nofollow">waived</a> trading fees for all cryptocurrencies available on its platform. Before this change, users were charged trading fees ranging from 0.04% to 0.25%.</p><h2 id="header-0">Korean won and BTC markets</h2><p>The platform’s Korean won market offers trade for 241 cryptocurrencies, whereas its BTC market caters to 24. The no-fee policy will remain in effect until a further announcement is made.</p><p>Many suggest this move by Bithumb aims to expand its domestic market share. According to local media outlet <a href="https://zdnet.co.kr/view/?no&#61;20231004110803" rel="noopener noreferrer nofollow">ZDNet Korea</a>, Upbit dominates with 86% of the Korean crypto market, leaving Bithumb trailing with 11%.</p><h2 id="header-1">Revenue impact and long-term strategy</h2><p>With its 10th anniversary approaching in January, Bithumb has made this decision, potentially to attract more investors. An official from the exchange highlighted the importance of attracting investors to secure liquidity. While the absence of trading fees, Bithumb’s main revenue channel, may result in a revenue dip, the official believes that a larger user base secured by this move will be beneficial in the long run.</p>

Bithumb Eliminates Trading Fees to Attract Investors and Gain Greater Market Share

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