[Discussion] Crypto VIP Program

[bitcoinguy111]

I recently saw this on Huobi's Twitter page about a VIP Program:


Trade 500BTC or more on other platforms?
Join Huobi's #VIP program, we instantly match you to be a VIP on spot & contract trading.
Fees as low as 0.0078% maker, 0.0156% taker.
Apply: https://docs.google.com/forms/d/e/1FAIpQLSdpSzf3Tja-IeCbxaZ_BmfClORMJHtdywk-CB-dNcavMnZqlw/viewform


These fees seem really low, is this usual for exchanges to offer these rates?



 

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[hugeblack]

You can find all the details about "Huobi's VIP Program" in this post: https://huobiglobal.zendesk.com/hc/en-us/articles/360000536341-Huobi-All-Star-VIP-6th-Anniversary-Fee-Promotion

These fees are for VIP members who trade more than 1000 BTC, so if I have this money I am more concerned about the security than the fees.
Also, don't forget that trading volumes are in the thousands of bitcoin which means that any fees ratio should be very small, well below the figures above.

This fee is about $ 8,000 for a 12,500 BTC transaction.

[bitcoinguy111]

You can find all the details about "Huobi's VIP Program" in this post: https://huobiglobal.zendesk.com/hc/en-us/articles/360000536341-Huobi-All-Star-VIP-6th-Anniversary-Fee-Promotion

These fees are for VIP members who trade more than 1000 BTC, so if I have this money I am more concerned about the security than the fees.
Also, don't forget that trading volumes are in the thousands of bitcoin which means that any fees ratio should be very small, well below the figures above.

This fee is about $ 8,000 for a 12,500 BTC transaction.

I like this program and it looks spot on … Wonder how many whales are going to apply?  Where do most whales hang out at?

[milewilda]

You can find all the details about "Huobi's VIP Program" in this post: https://huobiglobal.zendesk.com/hc/en-us/articles/360000536341-Huobi-All-Star-VIP-6th-Anniversary-Fee-Promotion

These fees are for VIP members who trade more than 1000 BTC, so if I have this money I am more concerned about the security than the fees.
Also, don't forget that trading volumes are in the thousands of bitcoin which means that any fees ratio should be very small, well below the figures above.

This fee is about $ 8,000 for a 12,500 BTC transaction.

I like this program and it looks spot on … Wonder how many whales are going to apply?  Where do most whales hang out at?

The question that cant be answered but for sure whales do exist and ask about on where they do hang out? Its the place where they can make out money. 
As hugeblack said above where most whales will definitely look after security that on that VIP benefits yet we are talking multi-millions here.

[bitcoinguy111]

I think Huobi has good security better than Binance that's forsure - I never understood how people trade there with millions after 2 hacks + KYC issue.

[magneto]

I recently saw this on Huobi's Twitter page about a VIP Program:


Trade 500BTC or more on other platforms?
Join Huobi's #VIP program, we instantly match you to be a VIP on spot & contract trading.
Fees as low as 0.0078% maker, 0.0156% taker.
Apply: https://docs.google.com/forms/d/e/1FAIpQLSdpSzf3Tja-IeCbxaZ_BmfClORMJHtdywk-CB-dNcavMnZqlw/viewform


These fees seem really low, is this usual for exchanges to offer these rates?

Is it usual? Yes. Most exchanges have tiered fee structures these days as well, and they are <0.1% in most cases for such high trading volume as well.

It's not like Huobi is losing any revenue from this, because before people can enter this VIP Program, they would have already earned a ton of commission from people trading at normal rates for the first 500-1000 BTC. Besides, the sheer amount of volume these traders generate mean that Huobi will be able to continue to make a ton of commission anyway.

If you think this is shady - it's not. It's just smart marketing, that is all.

[bitcoinguy111]

Great - I went ahead and applied my volume is almost there!  We shall see guys!