Key facts
- Bitfinex removed trading fees.
- The exchange experienced increased trading volume.
- Bitfinex saw growth in its customer base.
- The platform's peer-to-peer lending market is valued in the billions of dollars.
Removing trading fees is a strategy some cryptocurrency exchanges employ to attract users and increase market activity. This approach can lead to higher trading volumes and a larger customer base, as seen with Bitfinex. The impact on the exchange's broader ecosystem, including its peer-to-peer lending capabilities, is also a key consideration for market participants.