Crypto traders and investors continue to pull healthy profits through the ever-changing market and are always on the search for additional streams of revenue to reap more rewards.
The transaction fee mining business model caused quite a stir in the cryptocurrency world when it made its debut. Initially, users had to pay trading fees for every transaction conducted on an exchange.
Transaction fee mining completely disrupted this element as users could not only reduce the trading fee but also earn in the process. The main idea of this business model is to reward users with the equivalent trading fees in the form of an exchange’s native token.
In other words, it means zero or near-zero transaction fees for users. Further sweetening the pot is that these native tokens can be sold or held in anticipation of price appreciation.
Trade Mining
ProBit Exchange, a rapidly-growing exchange based in South Korea, is one of the many cryptocurrency exchanges that have widely embraced trade mining.
ProBit offers up to a complete refund of trading fees in the form of its native coin, PROB, which means that users can potentially trade on ProBit for free.
When a user trades a Mining Trading Pair and pays a trading fee, PROB will be mined and transferred to a user as a reward. The amount of PROB rewarded will depend on a user’s membership level.
The new membership structure features 11 unique levels:
The reward rate varies from 20% to 100% and a minimum of 2,000 PROB needs to be staked in order to participate in trade mining.
There is also a wide range of trading pairs applicable to trans-fee mining including:
BTC/USDT
ETH/USDT
XRP/USDT
ETH/BTC
XRP/BTC
BTC/KRW
ETH/KRW
XRP/KRW
This business model not only provides benefits for users, but it also helps ensure the stability and growth of PROB.
Stake Mining
As if that weren’t enough incentives, ProBit also has another rewards system called Staking Mining. The idea behind this model is to offer compensation for users who stake PROB in their staking wallet.
Every day during the Trade Mining period, ProBit will compensate users for staking PROB with PROB rewards. This daily stake mining rewards distribution is based on a rate of 4% per annum of staked PROB.
About ProBit Exchange
ProBit Exchange has lots of programs from which users can benefit including trade mining and stake mining. Another program that has proven to be popular with its users is the referral program where users can earn 10-30% of their trading fees for referring their friends to ProBit.
ProBit is a highly reputed cryptocurrency exchange, having managed to list more than 100 coins and conduct over 100 rounds of IEO in less than a year of operations. It also boasts a highly accomplished Launchpad highlighted by multiple sellouts and ROI exceeding even those of Binance’s.