Rebates are simple and easy! Place a maker trade on the exchange and earn a share of the revenue from trading fees. You do not need to do anything, register anywhere, or opt into anything. Simply place maker trades on the platform and watch the rewards roll in*.
We will officially be launching the Rebate Reward system on 4 January 2021. To earn rebate rewards you simply need to qualify through the total trading volume in the preceding 30 days. All Makers will automatically receive rebate rewards based on trading volume and transaction fee values.
We will initially restrict the rollout of the reward system to the Bitcoin, Litecoin, and Ethereum markets. We will monitor the success of the reward system and further extend it to other markets during the course of Q1 2021.
So how does it actually work? Well, it is simple, we look at your trading volume in the preceding 30 days and share a percentage of the overall trading fee for that trade with you. The rebate payments are instant and we automatically credit them to your account with no interaction required from you.
Go to your account transactions section to view your rebate reward statistics.
To earn rebate rewards, you simply need to place a maker limit order and wait for a taker order to fill your order. Rebate Rewards will initially launch on the Bitcoin, Litecoin, and Ethereum markets. Furthermore, we will be extending the rebate rewards system to our other markets during the first quarter of 2021.
Need Higher API limits?
To make the most of the reward system, market makers may require higher API rate limits, if this is you, please get in touch with the service desk so we can arrange this for you ([email protected]).
Traders and exchanges usually face a big challenge on new and exotic trading pairs, namely low liquidity. In South Africa, this is a particular problem for the crypto industry. The most popular trading pair is the BTC/ZAR market. However, South Africa has exchange controls. This means that the South African Reserve Bank restricts the amount of Rand that an individual or business may “export”. More specifically there are stringent requirements to exchange Rand for other currencies like the US Dollar or British Pound.
Why does this have an impact on the Rand / Bitcoin trading pair?
Bitcoin can not be mined (created) efficiently in South Africa. You need cheap reliable electricity to “mine” or “produce” bitcoin. This means that the majority of bitcoin is mined in Asia and is subsequently trading against the US Dollar. As a result, almost 100% of the bitcoin being exchanged in South Africa is sourced from US Dollar markets.
Rebate rewards have a big impact on the liquidity available on the platform. Not only does it impact the liquidity but also tightens the spread on the exchange for a particular trading pair. If we increase the trading volume we make the market more efficient. Furthermore, we reduce the occurrences of slippage in a particular market.
* Please take note of the volume requirements and calculation dates, more information can be found on the service desk solution.
This article is intended to educate and should in no way be seen as investment advice or an enticement to use the ice3x.com platform. Bitcoin is highly volatile with big profit opportunities but you should also remember that you could lose part or all of your investment whenever you take part in any high risk investment. Bitcoin trading is not a regulated industry in South Africa, which in itself carries additional risks. IF YOU ARE NOT AN ASTUTE BITCOIN TRADER, SEEK INDEPENDENT FINANCIAL ADVICE BEFORE MAKING ANY INVESTMENTS.