We have enabled a new feature in UTEX exchange that lets you use UTT tokens for paying trading commissions. With the standard commission fee for a trade being 0.2%, you pay twice as low by using UTT — only 0.1%.
How it works
To enable the option of commission payment with UTT, you need to select it in the trading interface and to have enough UTT tokens to spend.
When you make your trade, UTEX will automatically calculate the number of tokens required for paying off the commission. The number of redeemed tokens depends on the current price and amount of the commission for a certain trade. You can see the actual UTT price in the «My Wallets» section.
Let’s look at an example: A user that has UTT tokens in her UTEX wallet goes to buy Bitcoins worth of $1000 on UTEX. Now if she enabled commission payment with UTT and buys at $0.2 for 1 UTT, the commission for this trade is 5 UTT or $1 (0.1%). If the user prefers to go without tokens, the commission is $2 (0.2%), and it will be charged in dollars.
If payment with tokens is enabled, but the user doesn’t have enough UTT tokens to spend on commission, it will be charged at a standard rate of 0.2%, in USD.
How to transfer UTT into UTEX
1. If you have UTT tokens on your unitedtraders.com account, you can transfer them into UTEX past the blockchain without the network commission. To do so, go to the My Wallets section on UTEX website and select the deposit option «United Traders Account».
2. You can make a deposit into UTT account in UTEX through blockchain using a personal wallet or the HitBTC wallet. To do so, transfer your tokens into the address mentioned in the UTEX My Wallets section.
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