eCoin Announces No-Fee USD-Based Bitcoin, Litecoin Trading

eCoin says that it is charging no fees for trades made on its Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, which supports Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and litecoin trading against the dollar.

If confirmed, eCoin becomes a rare venue for no-fee trading. It would follow a similar model to China's "big 3," namely Huobi, OkCoin and BTC China, offering no-fee trading against the yuan.

Also, like its Chinese counterparts, fees are charged for deposits/withdrawals. The fees range between 0% and 3% depending on the method used. Supported payment processors include EGOPay, OKPay, Payeer, PayPal, Perfect Money and WebMoney in addition to wire transfers.

Most other USD offerings charge trading fees between 0.2% and 0.5%, so such no-fee offers pay off for traders with any sizeable activity, even when accounting for the deposit/withdrawal fees.

Bid/ask spreads appear to be fairly tight (even slightly overlapping). The site says that $2,439,219.65 has been exchanged during the past 24 hours. This would be equal to roughly 7400 BTC or 300 BTC/hour - ranking them on par with the likes of Bitfinex and BTC-e.

Another interesting feature is its arbitrage section, where prices from other exchanges are displayed and the sizes of arbitrage opportunities (based on eCoin prices) are laid out.

DC Magnates has not been able to confirm the authenticity of trading statistics. If one can indeed verify the reliability of the exchange, it may be a worthwhile pursuit for high volume traders.

eCoin is operated by Wallet Capital Group Inc., based in Panama, and indicates that it has a financial license.