Giottus, an Indian-based cryptocurrency exchange, has recently announced that it will be introducing commission-free trading for its customers. This means that all trading fees will be eliminated on trades made on the Giottus platform. Giottus, an Indian-based cryptocurrency exchange, has recently announced that it will be introducing commission-free trading for its customers. This means that all trading fees will be eliminated on trades made on the Giottus platform. However, this offer will only be valid for crypto-INR pairs. Thereafter, it currently accounts for more than 85 percent of all trades on the Giottus platform.
The commission-free trading by Giottus is likely to enhance the trading experience of its customers. According to Giottus, this move has the potential to improve profitability and trade liquidity on the platform. Thereafter, making the overall trading process more efficient for all participants.
CEO of Giottus, Vikram Subburaj states, “The primary intention behind the initiative is to increase profitability for our 1.1-million strong customer base and become an avenue to maximize their gains while encouraging new investors to join Giottus’ platform. Zero-fee is the most disruptive and decisive action by any crypto platform in India, and it will eliminate a major cost barrier for our customers.”
Giottus is optimistic that the introduction of commission-free trading will help increase trade volumes as the market shows signs of moving away from its bearish sentiment. According to Vikram Subburaj, the CEO of Giottus, the platform executed 4.5 million trades during the previous culmination of a bull run in 2021. He further expects to see a three-fold rise in this metric in the upcoming year.
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Giottus is one of the early cryptocurrency exchanges in India to announce its commitment to implementing proof of reserves. It became a member of the Alliance of Reporting Entities for AML/CFT (ARIFAC) in 2023. This membership highlights Giottus’ dedication to providing a secure and transparent trading environment for its users. In this regard, CEO Vikram Subburaj states that India has all the necessary components for success in the crypto industry. Thereafter, given its status as one of the world’s largest crypto adopters.