Namaste Tribe! A few weeks ago we introduced the Maker Taker model. Over the last 2 weeks of running this we’ve been getting solid feedback from all of you.
From all the data until now and the feedback received, we realized that the current Maker Taker model can be improved as we move towards our next milestone of 100 BTC in 24 hour trading volume.
Here’s the new fee structure that will go live tomorrow, 27th April 7.30 PM for all the markets inside WazirX
- Maker: Maker fees would be 0.1%
- Taker: Taker fees would be 0.25%
Everything explained with an example
Gauri and Aamir decide to trade on WazirX.
Let’s assume the current price of 1 BTC is Rs. 5,94,000.
Calculations for Gauri
Gauri places a buy order for 1 BTC at Rs. 5,93,000. However, since the current price is Rs. 5,94,000 Gauri’s order does not immediately execute and instead goes into the order book. Gauri is now a Maker.
Base price is Rs. 5,93,000
Trade fees (0.1%) = Rs. 593
GST (18% on fees) = 593 * 0.18 = Rs. 106.74
Gauri would get 1BTC for 5,93,000 + 593 + 106.74 = Rs. 5,93,699.74
Calculations for Aamir
Aamir decided to sell 1 BTC at Rs. 5,93,000. Since there’s Gauri’s order of Rs. 5,93,000, Aamir’s order immediately executes. In this case Aamir would be a taker and would pay 0.25% as trading fees.
Base price is Rs. 5,93,000
Trade fees (0.25%) = Rs. 1,482.5
GST(18% on fees) = 1482 * 0.18 = Rs. 266.85
Aamir pays total = 5,93,000 + 1,482 + 266.85 = Rs. 5,94,748.85
We’re gearing up for our next phase of growth and we have a lot of new features and improvements in store for you. Our Android, iOS and Web apps are getting better and beautiful every day and the kind of amazing feedback we’re receiving has been heart warming.
We’re here to offer the fastest trading experience for you and build WazirX into India’s largest and most trusted crypto exchange. Together with your help we know we can achieve this in record time.
Jai Hind!
*Above content is migrated from medium to wazirx blogDisclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
