About Transaction Fee in Bitnext

About Transaction Fee in Bitnext

Three types of commissions that occur in Bitnext
In this chapter, we will explain about Transaction fee, Withdrawal fee, and Funding fee

Description about Bitnext’s transaction fee

First, we will describe about Bitnext’s rules of transaction fees.

Our maker fee and taker fee are as follows.

Fees

・Maker fee料:0%
・Taker fee:0.05%

Comparison of transaction fees with other crypto exchanges

Is Bitnext’s transaction fee more expensive than other exchanges? Or is it cheaper?
Let’s check it out!
(Transaction fee at May 15th, 2021)

Exchanges Maker fee% Taker fee%
Binance 0.02 0.04
FTX 0.02 0.07
Bybit -0.025 0.075
OKEX 0.02 0.05
BitMEX -0.025 0.05
GMO -0.01 0.12
Bitbank -0.02 0.12
BITNEXT 0 0.05

About Funding Fee

Funding fee is meant to avoid the gap with Index price.
The fee is charged every 8 hours.
The amount of your position multiplied by the funding rate, will be added to/subtracted from your margin at the collection of funding fee.

When the funding rate is positive,

Holders of long positions pay the fee to holders of short positions.

On the contrary, when the funding rate is negative,

holders of short positions pay the fee to holders of long positions.

Rate is computed by the average discrepancy between the Index price and the Contract price taken between 16 hours ago and 8 hours ago.

Minimum and Maximum Rate

Min:-0.375%
Max:0.375%

How the funding fee is computed

BTC/USD: Price of 1BTC x Quantity of Contract x Funding Rate
ETH/USD: Index Price of ETH x Quantity of Contract x Bitcoin Multiplier x Funding Rate

Description of Withdrawal Fee

Bitnext’s withdrawal fee (mining fee) is fixed at 0.0004BTC.

About Bitnext’s discount systems

I think you’ve understand that Bintnext has the lowest transactino fee among the crypto exchange services.

In fact, Bitnext offers two methods in which you can even lower the transaction fee.

Just knowing these methods can allow your fee to go down by great amount.

The procedures are both simple and worth trying♪

Opening an account via official website

The first method is to open an account via our official website!

By creating your account through Bitnext’s official blog, you can get 5% discount in your transaction fee.

The discount applies by creating the account through this website.

About Reward Program

The second method is to "Join the Reward Program"!

By joining Bitnext’s Reward Program, you will earn points at every transaction.

The points you earned can be exchanged with gifts that the program covers!

Also, you can earn more points by joining the Guild and accomplishing Team Missions.

Reward Programについては、
以下の記事にて解説しておりますので、ご参照ください。

Summary

In these chapters, we have explained about the transaction fee protocols of Bitnext.

We guarantee lowest commissions and highest rate of return in the industry.

As we are a customer-oriented exchange, we are excited to serve you in our service.

You can open your account free from the form below.

\Right now, you can earn 20 dollar just by opening your account!