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Bitcoin Exchange Coinmotion Announces Zero-Commission Trading Run

Last Updated March 4, 2021 4:47 PM
Samburaj Das
Last Updated March 4, 2021 4:47 PM

European bitcoin exchange Coinmotion has announced a campaign which will see the exchange process orders with zero percent commission up to April 18.

Finnish cryptocurrency exchange and wallet service provider Coinmotion  has revealed a new campaign wherein customers will have to pay zero commission fee for orders processed. The campaign will run for two weeks, until April 18.

Announced yesterday via Medium , the Helsinki-based exchange also revealed a new feature with ‘Stop Orders’. The feature, also introduced by prominent bitcoin wallet and exchange Coinbase last month enables users to buy and sell bitcoin at a pre-determined set price.

Penning the blog, Coinmotion CEO Henry Brade explained:

With a stop order, you are buying when the price goes up to a certain point, trying to ride an uptrend in price. Or alternatively you are selling when the price goes down to a certain point, trying to ride a downtrend in price.

Coinmotion also teased a new ‘volume discount system’ that will provide incentives with volume discount tiers for traders. Furthermore, all volume trading during the zero-commission campaign will be counted and eligible for the new discount tiers.

Coinmotion was recently acquired by leading crypto brokerage firm Prasos, an acquisition made public in early March 2016. With the acquisition, Prasos strengthened its stronghold in the Bitcoin space in Finland, whilst already operating Bittiraha.fi, the largest Bitcoin-based service firm in the country. Prasos also operates the largest bitcoin ATM network among Nordic countries, with Bittimaatti.

Furthermore, Coinmotion also revealed that it will soon be re-launching SOFORT  banking transfers, an instant deposit settlement feature common among a select group of countries including Belgium, France, Germany, Spain and Italy.

SOFORT banking enables customers to instantly purchase bitcoin via a simple and instant bank transfer, as opposed to SEPA bank transfers which routinely take anywhere between 0-3 banking days.

 Featured image from Shutterstock.