Phemex has just released a new VIP Program that will help it take crypto trading to the next level. This announcement is part of Phemex’s recent efforts to lower trading fees and to make crypto trading more accessible for everyone. In particular, Phemex’s new VIP program has formed a 1 to 8 level structure that lowers the maker and taker fees for traders based on their previous 30-day trading volumes.
Centralized Exchange (CEX) VIP Programs At A Glance: Why Phemex Is Better?
If you’re a regular investor and you’re trading spot and contract pairs on an exchange but you’re not a part of a VIP program, you’re losing considerable money on fees. This new VIP program is aimed at solving this issue and providing Phemex VIP traders with more perks.
Generally speaking, every exchange out there has its own membership or VIP program, but not all of them have the same incentives.
For example, many exchanges require traders to hold their exchange’s tokens in order to receive the benefits. However, this is an obvious weakness because exchange tokens are difficult and arbitrary to assign value to. Moreover, exchange tokens such as FTT, BNB, and BIT have also had a rough year in terms of price performance. So having them part of VIP programs can be a downside especially when the markets are going south.
So the first perk of Phemex’s new VIP program is that it doesn’t require traders to hold any exchange tokens.
The second new feature of Phemex’s new VIP program is its fee structure – which at certain levels is much more competitive than other exchanges. To see the exact details on the VIP 1 to 8 level, check out the charts below!
In summary, traders who are trading large volumes can enjoy as low as 0.0325% contract taker fees and no maker fees at all. At the same time, spot traders can also enjoy as low as 0.0000% spot maker fee and 0.0400%% spot taker fee.
The third feature is that if a trader qualifies for level 5 on the contract trading side, that trader will also qualify for level 5 on the matching spot side. So you’ll receive trading fee discounts for both spot and contract trading.
The last and most important feature is what’s called VIP+1, which is if you’re a trader coming from an outside exchange who’s currently at a VIP 2 level and can submit verification of your trading volume, and you transfer over to Phemex, you’ll automatically receive the benefits of the VIP 3 level. Hence, VIP+1.
This is a special 30-day welcome bonus that Phemex is providing, so after 30 days the trading volume and VIP level will return to the appropriate category. So hurry up and apply!