US crypto traders can now buy BTC with USD at zero-fee on bitFlyer

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Feb 1, 2020
Updated: Feb 2, 2020
  • Japan-based crypto exchange bitFlyer has just announced that its US arm will allow US traders to buy BTC with USD at zero-fee.
  • The move comes as a result of a recent trend started by Robinhood Crypto, which was the first to introduce trading with no commission.
  • In addition to the new feature, bitFlyer US will also hold a trading competition, with a total of $1,600 in rewards for the top 10 traders.

A zero-fee for trading on digital currency exchanges continues to spread, with yet another business announces that its customers can now buy Bitcoin with no fees. The exchange in question is bitFlyer, and while it should be noted that its offer only stands for US customers who opt to buy BTC with USD, it is still a very important move.

Apart from only applying on the BTC/USD trading pair, the new zero-fee feature is also only implemented in the exchange’s pro trading tool, known as bitFlyer Lightning. The campaign will be enabled for US-based users automatically, although the end date for the campaign period has yet to be determined.

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Furthermore, it should be noted that bitFlyer is based in Japan, but that the new feature will be available on its US arm, bitFlyer USA, which launched in late 2017.

bitFlyer announces trading contest

Another thing worthy of note is that bitFlyer’s typical fees sit at 0.00000001 BTC per transaction, which is currently less than $0.1. However, bitFlyer also has a withdrawal fee that is at around $3.7 (0.0004 BTC). However, those who withdraw ETH have a significantly lower fee, which sits at 0.005 ETH, or $0.9.

Finally, users who opt to wire USD out of their accounts have to pay a fixed $10 fee.

In addition to the new campaign, bitFlyer’s US arm will also hold the first trading competition in the United States, which is known as ‘Trade Grand Prix.’ The contest will allow any US resident to join, and it will reward 10 best traders with a total of $1,600, depending on their daily and weekly volumes. The competition is expected to start on February 10th.

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