Exchange specific cryptocurrencies that can help you trade altcoins at lowest fees

Apart from other general benefits earned by people who invest in cryptocurrency exchange specific coins, traders can also get discounts and reduction on trading fees as well as other offers if and when they use the exchange specific coins to pay for transaction fees and fuel when trading digital assets. A number of cryptocurrency exchanges now have own native tokens since Bitfinex introduced the first of this kind in 2017, and these coins serve the main role of paying fees for services.

Other cryptocurrency exchanges that have their own coins now include Binance (BNB), COSS Coin (COSS), KuCoin Shares (KCS) and CryptalDash (CRD) with an initial investment of $1000.

Therefore, you can use them as a strategy to trade with low fees.

Bibox tokens on Bibox exchange

Bibox (BIX) token is a native cryptocurrency for the AI enhanced-encrypted digital asset exchange platform called BiBox Exchange, which is formed by top tier Chinese blockchain & Crypto giants including co-founder of OKCoin and other core founding members from HuoBi.com. OKCoin and HuoBi.com are the largest Bitcoin exchange platforms in China and across the world.

The cryptocurrency is listed on Bibox exchange and a variety of other exchanges as well.

Holding the cryptocurrency BIX on the Bibox account and trading at least once in a week earns the holder rewards/dividends on the holdings, as well as discounts to trade cryptocurrencies, and other benefits and privileges such as free use of new applications.

30 percent of the weekly profit earned through the Bibox’s Trading Fee Revenue is shared among the holders of BIX cryptocurrency. Traders who use the cryptocurrency get a 50 percent discount on the trading fees (when you trade any kind of token on the exchange). The exchange charges 0.1 percent of trading fee, which is deducted from the balance. The withdrawal fee varies depending on the cryptocurrency with 1 BTC being charged 0.0005 BTC and ETH 0.006 ETH.

The rewards on trading fees are distributed every Friday. According to the website, you get a 50 percent discount in the first year, 25 percent in the 2nd year, 12.5 percent in the third year, 6.25 percent in the fourth year and 0 percent in the 5th year whenever you pay transaction fees using BIX tokens.

Other privileges for holders of this token include voting on which new coins are to be listed on the exchange. The cryptocurrency is also used as fuel for the decentralized transaction service. In other words, decentralized services are paid using the tokens as fuel.

The cryptocurrency exchange itself offers several pairs to trade.

BNB tokens on Binance

Binance cryptocurrency exchange was the first to introduce an exchange specific coin in August 2017 and the cryptocurrency has seen growth of signups and value of its token which is now among the top 20 cryptocurrencies in the world.

The cryptocurrency can be used to pay fees when trading any type of coin on the Binance exchange, although users can still choose to pay fees in the cryptocurrency they are exchanging. Nevertheless, paying with BNB sees you getting 50 percent of discount on trading fees. This makes have the lowest trading fees in the industry. It charges 0.1% percent trading fees. The discount on the trading fees started at 50 percent in the first year and will reduce to 25 percent in the second year, then 12.5 percent in the 3rd year, 6.75 percent in the 4th year and zero in the 5th year.

Binance token has also increased in value from $0.1 in last year's ICO to current $13. That means it would deliver ROI of 1300 percent for anyone who invested the minimum amount of $1000 during the ICO.

Binance also offers dividends to holders of coins on the exchange. They use 20% of their profit to buyback & burn BNB until 100m BNB is removed from circulation (current supply is 95,512,523 BNB which is around 4.5 million shy of the 100m BNBs). The coin is also to be used as a gas for fees on future decentralized exchange.

COSS Coin on COSS exchange

COSS Coin ICO took place in August 2017 and offers dividends derived from COSS exchange fees to token holders. Token holders get 50% of revenues earned form the exchange.

Discount on the exchange trading fee is gotten on a weekly basis. One advantage with this exchange is that you do not have to necessarily hold the tokens on the exchange itself to earn the rewards but you can receive the rewards by holding it on MyEtherWallet or any other ERC20 wallet.

COSS exchange charges from 0.04-0.2% for both the buyer and seller in a transaction totaling to about 0.08-0.4% per trade. A 50 percent per trade means token holders will receive 0.04-0.2% per trade.

KCS on KuCoin

KuCoin from KuCoin exchange is similar to BNB and is an ERC20 token whose holders get 90 percent of the total platfrom's trading fee to the users. It also shares another 40 percent to users who recommend others to trade on the exchange and still another 50 percent to holders of KCS Kucoin as Kucoin Bonus.

The exchange uses 10 percent of profits in buying back KCS and burning them so that the holders of KCS are rewarded more as a result of the appreciating price.

CryptalDash Exchange

CryptalDash Coin (CRD) on the CryptalDash Exchange is used to pay for fees and services on the CryptalDash Exchange platform with holders rewarded with discounted fees when paying with CRD tokens.

Others

CoinMetro token from CoinMetro Exchange, with which users can pay trading fees at discounted rates (25%) in addition to sharing profits with token holders.

The AURA Token belonging to the IDEX Exchange, which allows people to earn a share of fees generated from the exchange and from the future products. Node operators also receive rewards proportionate to their percentage stake.

Exchange coins that will earn you revenue or bonus

Cryptopia exchange works over the Ubiq blockchain and holders of the coin get 4.5 percent of Cryptopia monthly revenue which is distributed in the proportion of their CEFS holdings.

This exchange allows anyone to trade, deposit and withdraw more than 400 digital currencies including Bitcoin. The tokens are however rare and expensive.

BridgeCoin BCO ERC20 token is a mineable cryptocurrency that allows you to get 50 percent of revenue share/bonus of CryptoBridge exchange when you stake: 3 Months gives 20% bonus, 6 months gives 50 percent bonus, 12 months gives 100 percent bonus.