In case you care about 0% trading fees

[artbart]

I think people here already have their own favorite exchange to trade on and looks like they are not interested at all to a new exchange with a fake volumes
I suggest you to stop using that kind of strategy to attract new users for your exchange, it will just make your exchange looks like a scam.

Accusations like that are such a daily thing when you work with crypto project. Try to launch basically any crypto project yourself and you'll instantly be a scammer to others. I will not try to convince that you are wrong. I'll just simply thank you for the opinion.

As a lesser known cryptocurrency exchange, I would love to know more on this platform. Please tell me more on its many salient features that can be at par (and can not be found) with your competitors. Aside from that, I am curious to know of the security measures this exchange is taking so as not to be part of the victim of hacking statistics. While the crypto-exchange industry is already crowded, we are always looking for innovations and who knows...Bitlocus might have what we are looking for.

Honestly though, I don't like the name Bitlocus because it sounds to me like "locust" a beautiful creature but can be a pest to many farmers though many chickens love to chase them away and eat (full of digestible protein and nutrients I guess). At any rate, I am wishing you guys the best for your business.

Most of the exchanges provide the same service. Basically, we are talking about fiat or non-fiat exchanges, KYC vs no-KYC, margin vs no margin trading, derivatives and then token supply itself.  In our case, eventually, we will be the ones to offer the biggest supply of EUR qoute markets; this 0% subscribtion service is actually a unique feature in the market and will be handy for larger-volume traders.
Security is solved in various ways starting with SSL, 2FA, hot and cold wallets, etc - I cannot talk about his more due to the same reason - security.
"sounds to me like "locust" " - mkay...

... for example if you register the month this will get 0.001 BTC free, you can trade or withdraw directly...

Interesting idea. I'll put this on the list to consider. Thank you.

The 30 day no trading fees is kinda attracting so I have signed up to the website and explore it. I am slightly disappointed and confused about this.

Correct me if I'm wrong. There is only 9 trading pairs? I am expecting that I can use your exchange with my hold coins to trade to your site. Though I like the idea that there is already an app available in an Android and Apple. Will you add some coins and other trading pairs?

Free trading days are instantly activated after account is activated - KYC is obligatory on Bitlocus since we operate with fiat currency as well (EUR at the moment).
9 pairs? yes. More to come soon. Honestly, I'm surprised how the market judges everybody a scam and yet demands an instant volume, millions of pairs, supermassive selection of unique services, etc - guys, step by step. We'll get there.

Zero trading fees is really good but it would look better if you initiate margin trading on your Exchange. Moreover what is the earning model of this exchange? we all know how DEX work they just charge gas fees for transactions and no internal trading fees is this something like that or what?

Main focus - trading fees.

I guess this is the new way of attracting traders in the crypto sphere, offering them 0% fees would be nice isn't it. But as somewhat as pointed out, only 9 trading pairs? It's either this trading exchanges are "forcing" us to just trade those coins in them or simply they've just started and can only list only coins.

But I don't think that this business model is going to last that long, I mean they are in the business of making money, so how can they profit here? Doesn't make sense at all.

there's lots of sence when you know the numbers to look at

Dont rush up since they were just starting and its just normal for a new exchange to have fewer listed pairs but at least we are seeing the major ones listed which is pretty normal...

God, thank you! Hat tip, Mahanton. As mentioned above, expectations are so high that basically everyone expects Binance-like service since day one. We'll get there.... The first Tesla wasn't Model S you know...

I don't know if this is legit or not knowing the fact that it is newly launched and ain't to trading volume yet.

https://coincodex.com/exchange/bitlocus/

Maybe I could say that this is not a secured exchange to visit with until OP could show something reliable in the eyes. Cause we are aware of scamming activities in which people are taking care of their funds.

There was a problem on their side. Fixed now.

... I am scared of insecurity and the project going bad

In such case doing nothing is the best thing...

...I think it's kinda difficult to advertise new exchange site since there are lot of trusted exchange sites already out there.

It is. And we are constantly brainstorming on how to become more attractive among others. In case you have any ideas I'd be very grateful if you could share them

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[Ucy]

Interesting. This is probably better than charging fees per trade. I believe few exchanges already offer the 0% fee trading though.
I guess you and other exchanges could make it optional. Traders should be able to choose whether to use 0% fee (monthly charges) or charge per trade. Or do you already have this as option.

[rijaljun]

Accusations like that are such a daily thing when you work with crypto project. Try to launch basically any crypto project yourself and you'll instantly be a scammer to others. I will not try to convince that you are wrong. I'll just simply thank you for the opinion.

Don't you realize that people can easily know the volume on your site is suspicious? I'm pretty sure I'm not the one who think so and I have looked to your site for minutes to check, not just a second.

[Ararbermas]

Good format and promo but much better if there's no expiration in my opinion . What i mean about that promotion wherein so that users will stay on your exchange  . Because you know ppl nowadays rely on some sort of exchange where they cant spent more dollars especially when it comes paying fees. So you must  keep that promotion in order to obtain more participants.

[ableh]

Good format and promo but much better if there's no expiration in my opinion . What i mean about that promotion wherein so that users will stay on your exchange  . Because you know ppl nowadays rely on some sort of exchange where they cant spent more dollars especially when it comes paying fees. So you must  keep that promotion in order to obtain more participants.

There is no expiration? I think it's impossible, because they need operational costs to run and manage this exchange. But this is possible if they charge more fees on withdrawals like Cobinhood, or make a donation wallet like Forkdelta. let's wait which choice they will make

[artbart]

Good format and promo but much better if there's no expiration in my opinion . What i mean about that promotion wherein so that users will stay on your exchange  . Because you know ppl nowadays rely on some sort of exchange where they cant spent more dollars especially when it comes paying fees. So you must  keep that promotion in order to obtain more participants.

There is no expiration? I think it's impossible, because they need operational costs to run and manage this exchange. But this is possible if they charge more fees on withdrawals like Cobinhood, or make a donation wallet like Forkdelta. let's wait which choice they will make

Currently, the monetization strategy is purely based on trading fees and NOT payment fees and we try to keep payment fees low so that those would not affect (or affect as low as possible) opportunities to make a profitable trade (like arbitrage).
We'll add USDT (erc20) markets next week probably and PAX and DAI markets afterward and them being tokens will keep the payments costs as low as 1 usd/pax/dai.

[cryptoangel]

In crypto trading is little risky investment so everyone have some fund and all are concentrate the legit exchanges only so already many legit exchanges are available in the market. But new exchanges are hard to survive and these kind of offers or attract some investors at the same time many of them expect the trustable exchange.
I think government will take the responsibility of any new exchange automatically it will growing faster in crypto market.

[alexey14]

Hello,
here, on Bitlocus we have launched two promotions for those who are trading fees aware:

1. Each new verified client gets 30 days of free trading. (update/clarification: free trading is activated right after KYC is passed (tier 2))
2. After that, you will be able to order our recently launched "Zero Trading Fee" service which costs 9 EUR/mo (charged in advance) or simply go-ahead with the default volume-based fees ranging 0.1 to 0.01% for makers and 0.2 to 0.06% for takers.

Extra candies are:
- referral program (20% instant commission from the trading fees your referred user has paid)
- crypto tolerant European IBAN  service (3rd party)

No, that website is scam

[NathanJB]

Hello,
here, on Bitlocus we have launched two promotions for those who are trading fees aware:

1. Each new verified client gets 30 days of free trading. (update/clarification: free trading is activated right after KYC is passed (tier 2))
2. After that, you will be able to order our recently launched "Zero Trading Fee" service which costs 9 EUR/mo (charged in advance) or simply go-ahead with the default volume-based fees ranging 0.1 to 0.01% for makers and 0.2 to 0.06% for takers.

Extra candies are:
- referral program (20% instant commission from the trading fees your referred user has paid)
- crypto tolerant European IBAN  service (3rd party)

Zero trading fee is really attractive. And I hope that all exchange platforms offering zero trading fees will succeed. Of course only if they are providing quality services in other aspects. This one for example has to reach a decent volume. They should also be offering nice and many trading pairs with decent volume as well. And I hope that this zero trading fee will last, not just offered during their promotional stage. 

[TrevorS]

Unknown exchange offering 0% commission. Immediately striking is the lack of volumes. How are you going to provide liquidity.
The design is also quite old-fashioned, it can be seen that not so much money was invested in the exchange, and this is already alarming.

[artbart]

Unknown exchange offering 0% commission. Immediately striking is the lack of volumes. How are you going to provide liquidity.
The design is also quite old-fashioned, it can be seen that not so much money was invested in the exchange, and this is already alarming.

It is hard to be a newbie in the crypto market and attract new customers hence the commissions and other incentives.
The volumes are low because it is a small exchange. For now.
There's like 50k EUR in BTC market's depth. Come and take it all. Or is it too little for you?
The design... well, thank you for the feedback.


Don't you think that an unknown exchange with millions in volume, hundreds in trading pairs with flashy as hell design is not suspicious? We are not trying to pretend that we are not. We are small. For now.

[MURONDI]

it looks like the promo you offer is very interesting, need to try, but want to wait for positive reviews from people for your site, Has anyone ever traded there,? might be able to share experiences here.

[stomachgrowls]

Unknown exchange offering 0% commission. Immediately striking is the lack of volumes. How are you going to provide liquidity.
The design is also quite old-fashioned, it can be seen that not so much money was invested in the exchange, and this is already alarming.

It is hard to be a newbie in the crypto market and attract new customers hence the commissions and other incentives.
The volumes are low because it is a small exchange. For now.
There's like 50k EUR in BTC market's depth. Come and take it all. Or is it too little for you?
The design... well, thank you for the feedback.


Don't you think that an unknown exchange with millions in volume, hundreds in trading pairs with flashy as hell design is not suspicious? We are not trying to pretend that we are not. We are small. For now.

Its quite understandable for a new exchange to have lower volumes than others.The thing i dont like for the arrange is that it do still requires for you to be verified to be
eligible for that free trading fees for 30 days.Why not offer this to traders which doesnt need for them to pass such verification?

It would be more appealing on that way rather than imposing strict KYC where people wouldnt have any choice but to leave in spite of its good no trading fees.

[deadsilent]

The 30 day no trading fees is kinda attracting so I have signed up to the website and explore it. I am slightly disappointed and confused about this.

Correct me if I'm wrong. There is only 9 trading pairs? I am expecting that I can use your exchange with my hold coins to trade to your site. Though I like the idea that there is already an app available in an Android and Apple. Will you add some coins and other trading pairs?

There's a lot exchange where they can only offer few trading pairs. They should atleast add more pairs before they launch the service. So traders would be able to enjoy the service because there's a lot of choices. There's a lot of exchanges out there offers IEO. They should talk to upcoming ICOs to promote their token thru IEO. So the exchange will have more activities and increase popularity.

[Reid]

It will be more cool if there will be zero withdrawal fee.
That pulls a lot of customers in and maybe make them stay too.

But this kind of promotions are still good.
Sacrificing the profits from trading fees is somehow hurtful in the long run.
Thanks for sharing it here.

[Kemarit]

It will be more cool if there will be zero withdrawal fee.
That pulls a lot of customers in and maybe make them stay too.

But this kind of promotions are still good.
Sacrificing the profits from trading fees is somehow hurtful in the long run.
Thanks for sharing it here.

I was about to say that. Anyways, I won't critisized here, it looks like the exchange is fairly new and understandable that it will take a lot of heat from the community members here, LOL. But I do like the fact that the OP is answering every question constructively. I guess you can start to test zero withdrawal fee for a while to attract potential customers? No? We all know that it's hard to maintain this kind of services specially in the beginning, but giving your customers what they needed is a good way to start.

[MI6]

it looks like the promo you offer is very interesting, need to try, but want to wait for positive reviews from people for your site, Has anyone ever traded there,? might be able to share experiences here.

Maybe because this is a newly born Exchange so there are still many people who have not traded there, looking at the explanations of friends above so we see many who give negative news against this Exchange. But if you want to try it yourself maybe you can immediately register there, tell us what you feel there.

Or maybe if not really sure about it, use very small money although it is risky. But if me i will like other people, will wait for other user's reviews first although it have a lot of promo in there. But hope for the owner can be really big and trustable market.

[Edraket31]

Sometimes, it is not about how much you are paying for trading, withdrawal fees, it is about the security a certain platform can give to its users. Assuming you can save from fees, but you are in panic all the time or in doubt because you don't know the security it can give you. So, it is fine if you are paying for as long as you have peace of mind that your account is safe.

[maydna]

It is hard to be a newbie in the crypto market and attract new customers hence the commissions and other incentives.
The volumes are low because it is a small exchange. For now.
There's like 50k EUR in BTC market's depth. Come and take it all. Or is it too little for you?
The design... well, thank you for the feedback.

Don't you think that an unknown exchange with millions in volume, hundreds in trading pairs with flashy as hell design is not suspicious? We are not trying to pretend that we are not. We are small. For now.

Well, that will depend on how you promote your exchange to the public, especially in the cryptocurrency community. Perhaps, you can give other promotions, make some programs that will attract more customers to come to your site. The important thing for a new exchange is just promotion because without making a promotion, it is impossible for any new site can grow. You can share your website on social media, and I guess that will be a good media to promote your exchange. Besides that, you can influence more people to visit your exchange.

[nasipadang]

Your marketing promotion requires more fund to the product introduction section (site), your site is not among the top exchanges. There are already a number of exchanges that offer a 0% trading fee promotion, a good step is "zero trading fee service 9 euros / month" for full-time traders who are often in the spot book. It's just that you don't add the altcoin / btc pair, the service you provide is aimed at users of daily and full traders