Hong Kong's BitVC Adds Fees For Exchange Traders

China-based bitcoin exchange Huobi announced another update to its trading fee policies today.

AccessTimeIconJan 24, 2017 at 3:52 p.m. UTC
Updated Sep 11, 2021 at 1:01 p.m. UTC

Hong Kong-based bitcoin exchange BitVC announced an update to its trading fee policies today.

Following news from last week that the exchange would add 0.2% to both sides of domestic bitcoin trades, BitVC said it will enact the same pricing for international users as other major bitcoin exchanges including BTCC, Huobi and OKCoin.

All three exchanges previously offered both services without trading fees.

Fees on BitVC, the exchange said, will be calculated daily at 13:00 local time, and it detailed how fees would be exacted from customers and in which digital and fiat currencies.

Founded in 2014, BitVC is notably a Hong Kong-based entity originally founded to offer margin trading services. (Early users were able to borrow up to 200% of the value of their assets).

As such, the move perhaps signals that China's bitcoin exchanges will move to enforce trading fees – even in subsidiaries outside of the country. Sources close to exchanges had previously expressed a willingness to keep lower fees in these markets.

The announcement comes as the global bitcoin markets continue to adjust to the change in policies at China's three largest exchanges, three of the largest by volume in the world.

At press time, volume figures were down across all three exchanges, though the price remained largely unchanged, continuing to hover around $900 as it has in recent sessions.

Correction: An earlier version of this article stated that BitVC is owned by Huobi. This has been revised.

Image via BitVC


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.


CoinDesk - Unknown
Hard Times in Crypto: the Unintended Consequences of Going Public

The third and final reflection on a series of risks we’re thinking about during these crypto down days.

CoinDesk - Unknown
CoinDesk - Unknown
After Bitcoin Maximalism

A Twitter debate sparks much reflection.

CoinDesk - Unknown
CoinDesk - Unknown
Three Arrows Paper Trail Leads to Trading Desk Obscured Via Offshore Entities

As Three Arrows Capital collapsed under market pressure, its much-lesser known trading desk, TPS Capital, remained active, sources say. But a complex ownership structure might frustrate creditors' efforts to collect.

CoinDesk - Unknown
CoinDesk - Unknown
June Was Bitcoin’s Worst Month Ever

Plus, European crypto regulation comes into view.

CoinDesk - Unknown