Leading Singapore-based cryptocurrency exchange Phemex announced, via Twitter, on September 6th that it was offering an upgrade to its loyalty program for VIP members. The platform provides some of the most competitive trading fees in the industry, allowing customers to earn considerable gains on each transaction.
First-Rate VIP Programs For Customers
Phemex has reduced its contract trading fees to 0.06% for market takers and 0.01% for market makers. Alongside the new fee adjustment, the firm announced a new VIP program to lower trading fees for high-volume traders who have deposited 2 BTC or more. These types of traders will be able to take advantage of fees as low as 0.0325% contract take fees and no maker fees at all.
The firm wants to encourage trading and has VIP programs for spot and contract traders, which offer significant discounts. Phemex offers an unrivaled VIP program throughout the industry, overshadowing industry leaders such as FTX and Binance. It’s worth noting that, unlike other exchanges, Phemex doesn’t require users to hold the native token to reap the benefits of the VIP program.
The company will make its programs more inclusive by merging contract and spot programs. As such, if users fulfill the requirements of one VIP program, they can enjoy the benefits of the other, encouraging users to trade the various products available.
Launching the new update VIP program will give day traders from other exchanges a great welcome bonus. By submitting proof of their trading history, they can instantly qualify for their corresponding VIP level+1 on Phemex for 30 days.
The exchange boasts some 5 million active users from over 200 countries, supported by 141+ contact train pairs with up to 100x leverage and 293+ spot trading pairs. With low costs and a dedicated team of crypto enthusiasts, Phemex offers a comprehensive trading experience to traders of all abilities. An easy-to-use interface lets novice traders quickly get to grips with the trading products.
The company recently expanded into Lithuania, receiving its crypto wallet and crypto exchange licenses to operate. As part of the company’s vision for global expansion, the exchange also obtained regulatory approval in Canada and Turkey.