BTCC To Start Charging Trading Tees on Its CNY Exchange

[BTCC_Official]

BTCChina, our CNY exchange, will start charging fees for bitcoin and litecoin trading from 12:00 p.m. (noon) UTC+8 on Tuesday, January 24th. Market makers and takers will both be charged a flat fee of 0.2 percent per transaction. We are implementing fee-based trading to curb market manipulation and extreme volatility. Please contact us at support@btcc.com if you have any questions.

[Xester]

BTCChina, our CNY exchange, will start charging fees for bitcoin and litecoin trading from 12:00 p.m. (noon) UTC+8 on Tuesday, January 24th. Market makers and takers will both be charged a flat fee of 0.2 percent per transaction. We are implementing fee-based trading to curb market manipulation and extreme volatility. Please contact us at support@btcc.com if you have any questions.

Thanks for the information. Though the fees are much higher but if it serves bitcoin better and will disallow the market manipulation of bitcoin that has caused me to loss a huge sum of dollars then it is a good news. Its better to pay much higher fees than to lose a huge amount of dollars due to panic selling brought about by the market manipulation and extreme volatility.

[BitHodler]

Looks like PBOC has done a tremendous job in forcing these exchanges to cut down on their margin side of their exchange where they are now forced to implement fees in order to earn money.

I'll be looking with great interest at how it will affect the volumes and the volatility over a longer period of time. It will definitely put a stop to how high speed traders and other whales constantly squeeze out the market.

But then again, those that do have very deep pockets will always be able to move the market in their preferred direction, only difference is that it will cost them money since fees are enabled now.

[webtricks]

BTCChina, our CNY exchange, will start charging fees for bitcoin and litecoin trading from 12:00 p.m. (noon) UTC+8 on Tuesday, January 24th. Market makers and takers will both be charged a flat fee of 0.2 percent per transaction. We are implementing fee-based trading to curb market manipulation and extreme volatility. Please contact us at support@btcc.com if you have any questions.

Sounds good. Nice instrument to curb 'panic selling' and unnecessary volatility in prices.
0.2% seems good rate both as an trader and as company for you. Time has come that people should start taking Bitcoin more seriously!

[davis196]

BTCChina, our CNY exchange, will start charging fees for bitcoin and litecoin trading from 12:00 p.m. (noon) UTC+8 on Tuesday, January 24th. Market makers and takers will both be charged a flat fee of 0.2 percent per transaction. We are implementing fee-based trading to curb market manipulation and extreme volatility. Please contact us at support@btcc.com if you have any questions.

This will work only if all the exchange platforms accept this "trading fee" business model.
The "market makers and takers" might run away and just use another exchange platform that doesn`t charge transaction fees.