On August 17, Bitstamp added support for Ethereum to its popular cryptocurrency exchange platform. As of this morning, users have access to ETH/BTC, ETH/USD, and ETH/EUR trading pairs.
Ether is the second cryptocurrency Bitstamp has added to its platform in three months. In June, the exchange added litecoin trading pairs; the litecoin price saw a significant increase leading up to their deployment.
“We’ve been encouraged by ether’s potential and the demand shown for its inclusion among our trading pairs,” explained Bitstamp CEO, Nejc Kodrič. “We encourage new and existing customers to take full advantage of the introductory discounts we have made available on ETH trading fees.”
At the time of writing, ether was trading at $301 on Bitstamp.
To celebrate the launch, the exchange will offer fee-free ether trading until October 1, followed by discounted trading until January 1, 2018:
“Since starting out in 2011, Bitstamp’s mission has been to be the safest and most reliable digital currency exchange on the market,” Kodrič added. “Our careful approach has created a market reputation for prudence which has served us well as we continue to expand and give our customers the trading options they desire.”
This expansion has extended into the mainstream financial sector, too. Recently, Bitstamp partnered with Swissquote to enable the online banking platform to add BTC/EUR and BTC/USD trading pairs.
The addition of ether trading pairs come shortly after Bitstamp unveiled a new unified pricing structure that is based upon a user’s 30-day trading volume. Small-scale traders (<$20,000) will pay a 0.25% fee, while higher-volume traders will receive a rate as low as 0.1%.
Kodrič believes this “straightforward” pricing model will simplify the process for traders:
Bitstamp’s decision to launch a unified pricing structure comes in the wake of the trading pairs we have recently added. This pricing model is not only cost effective, but it simplifies the trading process. Rather than having a separate fee schedule for each trading pair we support, unified fees means simple, straight-forward and competitive pricing for our customers. Unified pricing will also be an essential part of the continued expansion of our trading portfolio.
Featured image from Shutterstock.
Last modified: May 21, 2020 9:36 AM UTC