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November 20, 2019 03:10 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/f_dUgZ6pLVE/zero-commission-trading-is-coming-to-crypto
Zero-Commission Trading is Coming To Crypto
Zero-fee trading first came to exchanged-traded funds and then to online stock and option transactions. Now the strategy is spreading into the cryptocurrency sphere. From a report: Seen as the most profitable sector of digital-asset world, trading platforms are feeling the pressure as industry heavyweights such as Binance and BitMex grab market share with both trading volume and coin prices sagging. ShapeShift, which has operated an exchange since 2014, said Wednesday it's begun offering free "perpetual" trades. "Free trading has become a feature of all fintech direct trading offerings, from Robinhood to SoFi and even JPMorgan," said Lex Sokolin, global financial technology co-head at ConsenSys, which offers blockchain technology. "So it's not surprising that in a digital race to acquire the most users, execution prices are starting to collapse." The practice turned out to be a catalyst for Charles Schwab, which recently reported it opened 142,000 new trading accounts in October, a 31% jump from September, after the brokerage offered zero fees. Fresh income is being generated from interest earned on client cash holdings. Firms in the crypto world are taking notice.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/f_dUgZ6pLVE/zero-commission-trading-is-coming-to-crypto
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