Bitfinex, one of the largest cryptocurrency exchanges in the world, decided to decrease trading fees for large-scale traders. It is another step of Bitfinex on the way to become an institutional-grade platform.

Bitfinex introduces a new scale of fees, designed to encourage those traders who are most actively trading on the platform.

With a monthly trading volume of $300 million, trader will benefit from taker fees at 0.095%, while with a monthely trading volume of $30 billion, the taker fees are set at 0.055%. The fee tier for medium-sized traders with a monthly trading volume of less than $300 million remains the same with any changes.

The new system of fees will come into force within 18 hours after the announcement.

"The above fee tiers allow us to remain competitive in a rapidly consolidating market, providing high-volume traders and liquidity providers with access to some of the lowest trading fees in the industry. We strongly believe that the updated fee structure is well suited to provide Bitfinex with the friction required to maintain our predominance as the most liquid market across top currencies," the announcement reads.

Bitfinex also clarified that it does not provide any additional discounts to its employees, projects or users to inflate the volume of trades. The system of commissions is the same for all.

In December, Bitfinex suspended registration of new accounts and after reopening it required new users to deposit at least $10,000 to be able to trade. Bitfinex is a platform for professional traders, it said in the statement.