NFT Profit distinguishes between Maker & Taker:
Maker (buyer) 0.08% Taker (seller) 0.20%.
A key point for many users is of course the cost and fee structure. Therefore, we take a closer look at the costs at NFT Profit. A distinction is made in the order fees between “Maker” and “Taker”. Anyone who trades up to 500,000 USD has to pay fees of 0.08 percent as a “maker” (buyer). As a “taker” (seller), it is 0.20 percent. The fees for “takers” are reduced only when the trading volume exceeds 10 million USD. For “Makers”, trading is free from 7.5 million USD.
Costs for deposits
The costs for deposits also vary. Those who capitalize their account via bank transfer must expect fees of at least 20 USD/Euro or 0.1%. Smaller deposits (“Small deposit”) under a currency equivalent of 1,000 USD are also not made free of charge with cryptocurrencies. For example, anyone depositing smaller amounts of Bitcoin will incur fees of 0.004 BTC, while Litecoin, for example, will incur fees of 0.001 LTC. Larger deposits of more than USD 1,000 equivalent, on the other hand, are free of charge. The fee varies depending on the coin:
Withdrawal costs vary
With regard to withdrawals, users are also confronted with variable costs. For example, if you want to withdraw Bitcoin, you have to pay a flat rate of 0.004 BTC. For Ripple, it is 0.02 XRP. In principle, withdrawals via bank transfer are also possible, of course. However, these also cost at least 20 USD/Euro or 0.1%. Basically, the fees are the same as for deposits.
Costs for Margin Funding
The costs for margin funding also vary. They are 15% for margin providers. When a “hidden offer” is opened, margin users have to pay 18%.
Trading cryptocurrencies – registration & verification at NFT Profit.
Since its inception, the platform has been able to steadily increase its number of users. In the meantime, demand was so high that registrations were suspended at the end of 2017/beginning of 2018 and trading was only possible for users who had already registered.
In the meantime, however, traders can register again. The creation of an account is free of charge. Verification is also not required for trading with euros. However, all users who wish to deposit in USD must perform the verification.
Note: There is a way to bypass the verification. For this, users can exchange USD into Litecoin and then send it to another trading platform. There, in turn, the exchange in USD can then take place again.
Those who want to register for the platform can do so within a short time. The website offers the corresponding online form, which users can reach quite conveniently via the “Sign Up” button. The following information is required:
- E-mail address
- Username (chosen by the user)
- Password (chosen by the user)
Some users have an invitation code, as they can use at this point during registration. For this purpose there is the corresponding field: “Have you a Referrer Code”. Through this code, users can save fees on trading.
Regarding the verification of new users, however, there are negative experiences to report: The duration is usually 6-8 weeks, which NFT Profit itself also states as the time span.