Crypto.com Cuts Trading Fees by 80%, Lowers CRO Staking Rewards

Crypto.com, the world's fastest growing cryptocurrency platform, has revealed that it is working to democratize crypto trading by lowering trade fees by as much as 80%. Besides, CRO stakers will be rewarded with fee reductions, but their earnings will be cut.

According to Crypto.com, it will slash buying and selling charges by 80% in spot and derivatives markets. Trading fees now start from 0.075% and 0.034% for the Spot and Derivatives markets, respectively. No minimum trading amount is required.

To additional cut back charges, customers can purchase and stake CRO (the native Crypto.com currency) to achieve a direct price discount. Customers will unlock extra buying and selling price advantages relying on the quantity of CRO staked. 

However, New CRO stakers will now not be capable to earn the flat 10% each year. As an alternative, they fall underneath a new rewards scheme wherein they'll earn as much as 8% each year, which represents a 20% lower in earnings. The company staff said that the change is important to make sure the ecosystem's long-term stability and development.

Crypto.com continues to grow and expand its ecosystem actively. In the last three months, the company had obtained regulatory approval in UK​, Canada, Cayman Islands​, South Korea, Cyprus​, Italy, Singapore​ and Dubai​.

The fee reduction is a significant adjustment for Crypto.com. Nonetheless, such a change is necessary if more people are to be onboard, the company said.