This article originally appeared on Yahoo Finance
SINGAPORE, SINGAPORE / ACCESSWIRE / August 4, 2021 / Institutional-grade cryptocurrency exchange AAX has announced the introduction of a highly attractive zero-fee trading program across all its spot pairs. Users trading on the platform will benefit from completely free trades, both for maker and taker orders, and across all volume tiers. The changes are set to go into effect in early August.
The exchange, featuring exceptional liquidity and spread characteristics, is opening its doors to all traders who wish to save on often-prohibitive commissions seen elsewhere. Powered by LSEG Technology’s matching engine, the exchange offers unparalleled stability and low latency, making it the perfect venue for both institutional, professional, and amateur traders alike.
AAX plans to lower the access barrier for novice traders using this zero trading fees initiative. Between the months of January to June, the cryptocurrency market has seen an increase of 120% in total market cap, according to data from CoinMarketCap. Given this exorbitant market increase, AAX is altering its customer offerings to meet this surging demand. AAX lets users acquire and trade major cryptocurrencies like Bitcoin, Ethereum, XRP, Dogecoin, and many others, as well as offering a wide basket of DeFi-centric currencies like Solana, Chainlink, Uniswap, Aave, and more, all at no cost. Recently, AAX also made moves to provide full support for Polkadot and Solana ecosystem tokens.
“The financial revolution, spurred on by crypto has only just begun, and we believe now is the right time to make a big move,” said AAX COO, Toya Zhang. “We live in historical times where we will discover the power of collective action and focus on driving one of the biggest social and economic transformations of the century. With just under 2% of the world’s population in crypto, there is still so much room for growth and we believe removing as many barriers as we can to drive adoption is the right course of action at this stage.”
We are not making money from the spread. Algo traders are still paying trading fees considering that they will take advantage of the superb liquidity from AAX. If competition between centralized exchanges is about driving the trading fees down, let’s just go straight to zero ” Zhang noted.
In addition to traditional crypto trading functionalities, AAX Exchange offers a platform for peer-to-peer fiat trading and lending. The OTC platform allows for simpler trade execution for large clients, while the Fast Buy option is perfect for inexperienced users looking to get their first Bitcoin. AAX also offers a wide range of both fixed and flexible savings packages for more than 50 crypto assets with an annual yield (APY) of up to 20%.
About AAX
AAX is a premium cryptocurrency exchange that is favored by more than a million users. Powered by London Stock Exchange’s LSEG Technology, AAX offers crypto futures contracts, 80+ spot pairs, P2P fiat trading, savings products, and top-grade API connectivity. AAX enables users to buy bitcoin easily via its P2P or Fast Buy platforms and supports over 20 major fiat currencies.
