No-Fee Bitcoin Trading App Crosses Major 2020 Milestone
Germany’s second-largest stock exchange just reached $1.2 Billion volume on its native crypto app, Bison.
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Similar to the U.S. Robinhood stock trading model, the Bison app from Germany’s second-largest stock exchange charges no fees or commissions for Bitcoin traders. Instead, the app profits from the spreads between buy and sell prices.
Germany’s Robinhood Breaks Bitcoin Record
Börse Stuttgart, Germany’s equivalent to the NASDAQ stock exchange, launched the Bison app in 2018 to offer stock traders exposure to the crypto markets.
Today, Bison announced that trading volumes in 2020 had crossed €1 billion in 2020, equivalent to $1.2 billion.
Daily volumes exceeded $42.3 million on several occasions, with active users also hitting new highs with a 180% increase to 206,000. Bison currently supports BTC, ETH, LTC, BCH, and XRP trading.
Illi Spankowski, CEO of Bison developer Sowa Labs GmbH, stated that the increases in user numbers and trading volumes had “far exceeded” expectations. Users are likely enticed by the connection to a well-respected stock exchange, as well as the no-fee model Bison uses.
Börse Stuttgart also launched a crypto exchange earlier in the year, allowing users to trade crypto-euro pairs, including BTC, ETH, LTC, and ETH.
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