Giottus has announced that it will be the first Indian exchange to provide zero trading fees on INR pairs, aiming to benefit its customers by eliminating trading costs entirely. Here are some of the common questions answered.
Why is Giottus implementing zero trading fees?
Giottus is motivated by its philosophy to make crypto trading and investing accessible to as many people as possible. Removing even the slightest hurdle for customers, such as the trading fee, aligns with this vision.
Giottus has been known for its disruptive initiatives, including introducing a P2P platform in 2018 (later decommissioned) and instant INR deposit and withdrawals in March 2020. Now, it is the first Indian crypto platform to offer zero-fee trading.
How does this benefit the customers?
This customer-centric move is expected to significantly increase the profitability of active traders and investors, especially during this bear market. Customers can now plan their trades with ease knowing that trading fees is not a hurdle.
What advantages do customers gain from zero-cost trades?
Zero-cost trades is likely to lead to a significant increase in liquidity for INR pairs. This development is considered a substantial win for Giottus customers as they may get the best prices for crypto assets in the country.
Is the zero trading fee applicable to all types of trades on Giottus?
Yes, the zero trading fee applies to all crypto-INR trades conducted on Giottus’s platform. Crypto-crypto trades continue to carry fees as per the link here. Similarly, there is no change in crypto withdrawal fees.
Are there any hidden costs or charges that customers need to be aware of despite the zero trading fee?
No, there are no hidden costs or charges associated with trading INR pairs on Giottus beyond the declared zero trading fee.
How does the absence of trading fees affect the overall market dynamics on Giottus?
The elimination of trading fees is expected to enhance market liquidity and promote a more dynamic trading environment for all users.
Is the zero trading fee applicable to both existing and new customers of Giottus?
Yes, both existing and new customers can benefit from the zero-trading fee policy on Giottus.
Are there any specific criteria that customers need to meet to avail of the zero trading fee benefit?
No, there are no specific criteria for customers to meet in order to enjoy the zero trading fee benefit on Giottus. It is open to all users.
Will 1% TDS on sale of crypto continue to apply?
Yes, customers should note that the continued application of 1% TDS (Tax Deducted at Source) on profits remains in place as per the existing tax regulations.
How can customers get assistance or support if they encounter any issues related to the zero-trading fee policy?
What sets Giottus apart from other platforms?
Giottus offers low-cost, highly liquid trading, boasting over 250+ trading pairs. It serves as a comprehensive crypto investment platform with products like Staking, Fixed Rewards, SIPs and Baskets — striving to be the one-stop solution for all things crypto. Additionally, it is the highest-rated Indian crypto platform on Playstore and AppStore.