Over the last few years, cryptocurrencies have gained a lot of traction and are now on the verge of mass adoption. With the weakening economies, and increase in inflationary policies, cryptocurrencies have become extremely popular, thanks to its natural potential to act as a hedge against fiat currencies. Bitcoin, in particular, is reaching an all-time high, crossing the $40,000 mark, while ether, the cryptocurrency powering the Ethereum network, has crossed the $1000 mark.
With the gaining popularity of cryptocurrencies, the number of new investors is increasing monumentally. However, because of either lack of proper research, or simply lack of awareness, new and old investors alike tend to pay exorbitant fees on their trades. The commission (industry average) is often marginally short of 1%. While this number may seem small, these numbers quickly add up, especially considering the fact that a trade might be for thousands of dollars. These commissions are the price you pay for using the exchanges and varies based on the exchange you use.
At Vauld, we ensure that you only have to pay for what is absolutely necessary, charging one of the lowest fees in the industry.
Low Fees, High Gains
Vauld charges 0.05% maker and taker fee – one of the cheapest rates to effect a transaction. Do you want to know exactly how Vauld compares to other leading exchanges? Take a look for yourself.
Unocoin charges a fee of 0.7% for every transaction effected on the platform, but on extensive usage and a significant trade volume, the fee lowers to 0.5%. In comparison with Vauld, for a transaction of INR 10,000, you’ll have to pay a commission of INR 70 to effect the trade as a normal user, and INR 50 as an upgraded user. However, for the same transaction, the maker bears the commission of INR 5, while taker bears another INR 5, making Vauld a much cheaper alternative.
Zebpay, in comparison to Unocoin, charges much less at 0.15% or 0.25%, depending on how quickly the order is matched. However, this rate is still higher than Vauld’s 0.05% trading fee on the platform.
The commissions paid on CoinSwitch varies based on the medium used to effect the transactions, but the average is 0.49%, significantly higher than Vauld’s 0.05%.
WazirX does have one of the lowest fee structures in the market, with the rates floating between 0.1% and 0.2% based on the nature of the transaction. Again, Vauld is still cheaper, as the trading fees for the maker and taker is 0.05%.
It is reasonable to assume that users may be sceptical of the security and performance of the platform, especially when the the extremely low fees seem to good to be true. Rest assured, the priority for Vauld has always been customer experience and security and offering highly competitive rates. We have in place strict security protocols and ensure that your wallets are protected with military-grade security, thanks to our custodian partner, BitGo. All our cold-wallets are insured to the tune of $100 million by Lloyd’s London, ensuring that there is no compromise on the security of your crypto assets.
Make Money With Crypto
Vauld does not only offer a trading platform with significantly low fees, but it also doubles as a portal to earn money on your crypto assets. Vauld, being a crypto bank, enables you to deposit your cryptocurrencies into the platform, and earn interest via crypto lending.
The deposit types can be classified into two broad categories, called savings deposit and fixed deposit, with fixed deposits having a higher payout. The payouts vary from 1% to 9% based on the cryptocurrency for savings deposits, while fixed deposits will fetch you anywhere between 3% to 11% based on the cryptocurrency. Irrespective of the cryptocurrency you deposit or withdraw, there is no withdrawal or deposit fees.
On certain methods of depositing INR into the wallet, (UPI, RTGS/IMPS/NEFT remains free), Vauld has to charge a small fee to meet the costs of using the payment gateway. The complete list of fees, interests and loan rates can be viewed here.