Note Cuts Trading Fees and Lowers CRO Staking Rewards

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  • By lowering the trading fees, users will benefit from more affordable access to cryptos.
  • Cuts Trading Fees and Lowers CRO Staking Rewards
  • The platform is one of the core gateways for newcomers entering the cryptocurrency space. Following a recent blog post, the company will slash trading fees by as much as 80%. Additionally, there are some changes involving the CRO token.
  • Like trading other financial assets, converting between cryptocurrencies is subject to fees. Those fees often enable service providers to pocket revenue and turn a profit. Crypto.Com, through its Exchange solution, wants to reduce those trading fees by up to 80% for all users. That is a significant adjustment as it will cut into the company's profits. However, the company acknowledges such a change is necessary if more people are to be onboarded.

    By lowering the trading fees, users will benefit from more affordable access to various cryptocurrencies. That fee reduction applies to both spot and derivatives trading, with fees now starting at 0.075% and 0.034%, respectively. In addition, there is no minimum trading amount, which should help traders push toward attaining 0% maker fees. But, of course, that requires staking at least 50,000 CRO.

    The Importance Of CRO

    To further reduce fees, users can acquire and stake CRO (the native currency) to gain an immediate fee reduction. Users will unlock additional trading fee benefits depending on the amount of CRO staked. It is possible to get paid to trade through negative maker fees across all tiers for users who stake at least 100,000 CRO.

    It is worth noting that liquidity providers can benefit from negative trading fees and improved capital efficiency. That includes negative maker fees for all market-making tiers, credited as rebates in real-time, and settled in the receiving currency for spot trading. For example, will settle negative maker fees for derivatives trading in USDC.

    Long-term CRO supporters - staking or otherwise - will have noticed the asset has found some price stability near $0.1265. Although the asset is down by nearly 70% from its price six months ago, the downtrend has been reversed somewhat. Moreover, Staking Rewards indicates over 13% of the CRO supply is locked in staking, confirming substantial network support.

    CRO Staking Reward Drops and Ongoing Exchange Focus

    Existing users staking their CRO through will not see a change to their staking rate. On the other hand, newcomers will no longer be able to earn the flat 10% per annum. Instead, they fall under a new rewards scheme in which they can earn up to 8% per annum. That is still an appealing rate but represents a 20% decrease in earnings. Per the team, the change is necessary to ensure the ecosystem's long-term stability and growth, more specifically, the Exchange solution.

    The Exchange can process 2.7 million transactions per second and is built to become the next-generation cryptocurrency exchange. It is subject to various top-tier security certifications and plays a vital role in the broader ecosystem. In addition, the Exchange offers staking rewards to CRO holders and is home to special events, such as Supercharger, where users can win attractive and exclusive prizes.

    Additionally, the team has secured more licenses to operate its Exchange service globally. Registration approval from the UK's FCA was secured earlier this month, and progress has been made in Canada, the Cayman Islands, South Korea, and Cyprus.
    The Exchange recently received an upgrade to incorporate more trading tools. Users can experiment with trading bots and advanced charting tools across Spot, Margin, and Derivatives trading. More features will come to the Exchange over the coming months.

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