In order to increase the adoption of its platform in Brazil, FTX decided to reduce the withdrawal rate in Brazilian Reais of its crypto investment platform, from 0.5% to 0.3% as of this Tuesday (01/09) / 2020). With this change, FTX becomes even more competitive for Brazilian investors in this segment and for the country’s OTC trading desks.
In addition to the reduced fee for withdrawals in reais, users have the lowest maker (0%) and taker (0.07%) rates in the Brazilian market and a page for OTC trades (large volumes) with the highest liquidity and the lowest spreads in the Brazilian market.
As a comparison, the Bitcoin Market, one of the main brokers in the country, charges a 2% withdrawal fee and trading fees that reach 0.7%, ten times more than the FTT token issuer – 45th currency in market capitalization.
Recently, a partnership between Transfero and BRZ with FTX allowed Brazilian users to access the platform in a simple and direct way. Deposits and withdrawals on the platform can be made by TED (immediate transfer) or through BRZ, using the Ethereum infrastructure. The platform has a wide variety of tokens and brings the most advanced crypto trading platforms.
FTX brings news to Brazilians
FTX has been gaining fame in the Brazilian market for paying the highest price among all BTC exchanges, becoming the main reference for the sale of cryptocurrency in the national market. Another differential of the platform is the possibility to keep any cryptocurrency as a collateral for trades, including BRZ.
And initiatives for the Brazilian market should not stop there. The exchange promises even more news soon to the public. The company recently announced the US$ 150 million acquisition of the Blockfolio app and the launch of the decentralized exchange Serum, which uses Solana’s blockchain to enable a fast and inexpensive trading infrastructure.