If a user trade in BitMart and have enough BMX balance to pay the fee, the transaction fee can be deducted by BMX and user can enjoy a 50% off for the fee. The detailed rules are as follows:
When a user allows BitMart deducts BMX when paying the fee and the user has sufficient BMX balance to pay for fees, the system will automatically calculate fee with the discount applied. And the system will calculate the equivalent amount of BMX according to the BMX current price, and use the BMXs in the account to complete the payment of the fee. Users can turn "Pay Fee with BMX" on or off in the personal center, and by default, "Pay Fee with BMX" is turned off.
How is the BMX current price be calculated?
If the transaction fee is calculated in ETH, it will be converted according to the ratio of market ETH and BMX, and the latest price of ETH/BTC and BMX/BTC market, the exchange ratio of ETH/BMX = (ETH market price/BTC market price) / (BMX market price/BTC market price). The market price will be updated every second.
- Is it possible to turn on or off “Pay Fee with BMX” by myself?
Users can turn “Pay Fee with BMX” on or off in the Personal Center - Account – Pay Fee With BMX.
If you have enabled the deduction, your Account page should appear as follows:
On the Exchange page, you can view details of your current fee rate:
- How to calculate the fee when the original fee is calculated based on BMX?
If the original fee is calculated based on BMX and you have turned on "Pay Fee with BMX", you can enjoy the corresponding fee discount. When you have turned off the option in Account, 100% of the original trading fee will be charged.
- If I have turned on "Pay Fee with BMX", but my BMX balance is insufficient to pay the fee, what will happen?
When you have turned on "Pay Fee with BMX" and your BMX balance is insufficient to pay the fee, the fee will be charged based on the Official Trading Fee rate.
Thank you for your support!
February 15, 2019