The South Korean crypto exchange Bithumb ended its four-month campaign of commission-free crypto trading on February 5. Per Insight Korea, Bithumb began charging a 0.04% fee “for all crypto transactions starting from February 5.” The exchange has been trying to claw back market share from its biggest rival, Upbit. In recent years, Upbit has eclipsed Bithumb to become the South Korean market leader. The exchange also wants to surpass Upbit by becoming the first South Korean crypto exchange to go public on the KOSPI stock market index. Bithumb and Upbit rivals Coinone and Korbit also did away with commission fees, with Upbit refusing to follow suit.
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