BTCC – FAQ About BTCChina Exchange’s Implementation of Fee-Based Trading

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BTCChina 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.

FAQ About BTCChina Exchange’s Implementation of Fee-Based Trading

[1] When will BTCChina implement fee-based trading?

BTCChina will implement fee-based trading at 12:00 p.m. (noon) on January 24th, 2017.

[2] Which BTCC products will be affected by the announcement?

The announcement above only applies to the BTCChina exchange. BTCC Pro Exchange and BTCC USD Exchange have their own fee structures, which will not be affected by this announcement.

[3] Will I be charged if my order isn't executed?

You will only be charged a trading fee when your order is executed (filled). If you cancel your order before it is executed, then you won't be charged a trading fee.

[4] How can I find out how much I have been charged in trading fees?

You can find out how much you have been charged in trading fees by visiting the BTCChina exchange transaction history page: https://www.btcchina.com/exc/trade/order.

[5] Which of the trading pair is the 0.2 percent trading fee deducted from?

Trading fees are deducted from your target currency. For example, if you are buying bitcoins with CNY, the trading fee is deducted from the bitcoins you are buying. If you are selling bitcoins for CNY, the trading fee is deducted from the CNY you will obtain after selling the bitcoins.

For example, if you were to use 6,000 CNY to buy 1 BTC:

 i. You would be charged a 0.2{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} trading fee. ii. The 0.2{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} fee would be deducted from the 1 BTC you obtain from buying bitcoin with 6,000 CNY. iii. You would pay 0.002 BTC as a trading fee, and obtain 0.998 BTC in total. 

As an additional example, if you were to sell 1 BTC for 6,000 CNY:

 i. You would be charged a 0.2{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} trading fee. ii. The 0.2{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} fee would be deducted from the 6,000 CNY you obtain from selling your 1 BTC. iii. You would pay 12 CNY as a trading fee, and obtain 5,988 CNY in total. 

[6] Will API trading be affected by the change?

Yes, fee-based trading will also apply to API trading. Please adjust your trading strategy accordingly.

Please contact us at support@btcc.com if you have any questions.

submitted by /u/btcc_official
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Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Ticker

1 BTC = $55491.32 USD  (via Coinbase)
1 ETH = $3931.97 USD  (via Coinbase)
1 LTC = $357.45 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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