Bithumb’s No-Trading-Fee Policy Proves Effective in Boosting User Engagement
Since the recent introduction of a no-trading-fee policy for select cryptocurrencies, Bithumb, one of the leading cryptocurrency exchanges in South Korea, has experienced extended customer engagement on its platform.
Increased user engagement and installations
Over the past week, the Bithumb app has witnessed growth in user engagement and installations. Both the average total time spent on the app and the average time spent per individual user have risen by nearly 20%. Additionally, there has been a 10% rise in the number of new app installs compared to the previous week.
Ten new fee-free tokens
In this positive announcement today, the crypto exchange also revealed the addition of ten new virtual assets to its list of fee-free trading options. These newly added assets are SAND, AXS, BSV, QTUM, TFUEL, ANKR, T, KNC, STPT, and ONG. This brings the total number of fee-free trading assets on the exchange to 20.
Customer engagement and trading volume
Bithumb has demonstrated its commitment to making customers stay longer on its platform through various initiatives. Notably, the exchange, in late June, introduced Insight, a service that provides crypto investors with metrics to help them make informed decisions. The company believes that bolstering customer engagement will drive growth in the exchange’s trading volume.
Bithumb, recognizing the positive impact of its zero trading fee policy on customer retention, internally saw this achievement as a successful step towards delivering tangible benefits to its users through an optimized trading environment.
Since the beginning of the month, the exchange has been unveiling a weekly lineup of fee-free tokens, accompanied by a no-fee BTC market. These fee-free tokens are easily identifiable with a blue badge and can be conveniently sorted by clicking the “fee-free” tab at the top of the chart.
Moon Sun-il, the Head of Services at Bithumb, emphasized the company’s commitment to noticeable user experience enhancement. Moon highlighted the recent implementation of the no-trading fee policy and the introduction of the trading data service, Insight, as key initiatives driving towards this goal.
