Written by Logan

On May 29, 2020

Closed Beta, Fee Structure, International Expansion, and More

Although Metal Pay was built to be a highly practical and accessible way to buy and use cryptocurrency, we’ve always had our eyes set on creating the next generation cryptocurrency exchange. We think buying and selling cryptocurrency should be fast, easy, and hassle-free – which is why we’ve put countless hours into building Metal X. We think it’s time to give our community an update on where Metal X stands today, so keep reading to learn what’s coming next.

Closed Beta

We’ve already accepted select people from our waitlist to join the Closed Beta testing of Metal X! We’ve received helpful feedback and glowing reports about the trading experience on Metal X, and we’re encouraged to see a continual increase in usage from our Beta testers. Be sure to join our waitlist today – we’ll be gradually granting access to Metal X to the people on our waitlist in the future as we continue to build this new exchange.

Dynamic Fee Structure

All cryptocurrency exchanges have fees – they help process transactions, ensure the validity of trades, and keep the lights on. We decided that we wanted a dynamic and tiered fee structure on Metal X, one that rewards trading and encourages the use of cryptocurrency.

As you can see above, the higher volume in Bitcoin that you trade on Metal X, the lower your fees will become. As you cross over into Tier 7x, not only do your Taker fees become low, but your Maker fees actually turn negative – that’s a rebate, which is our way of thanking you for using cryptocurrency and being part of Metal X.

Currently, all Metal X Beta users are sitting at Tier 10x, which means they are paying the lowest prices in the industry for Taker fees, and are receiving a nice bonus on Maker transactions. All the more reason to sign up for the waitlist to make sure you get to try Metal X while it’s still in Beta. You’ll want to act fast – the current fee structure is only available while Metal X is in Beta mode!

International Expansion

We’ve had our hearts set on meeting our international audience from the very start, and we’re closer now than ever. We recently hired an EU-based Compliance Officer to the Metal Team, which helps us ensure that we are meeting all requirements to operate within the European Union.

Additionally, we’ve been hard at work on meeting all regulations and requirements for the various countries in and around the European Union; we’ll provide more information on this in the coming days. Each state and country offers a different regulatory environment that we have to navigate, and some are easier to manage than others, but we won’t stop until every person in the world has a chance to buy, sell, send, and receive cryptocurrency the way it was always meant to be – the Metal way.

As a special thank-you to the people who have signed up for the Metal X waitlist, we’ll be providing early access to Metal X Beta to more select users in the future. Additionally, anyone who is currently on Metal X Beta through our waitlist will also be first in line to upgrade their tier once Metal X is fully updated. Not on our waitlist yet? Make sure you join to gain first access to all of our new features!

As you can see, we’ve been hard at work making Metal X the best way to buy and sell cryptocurrency. This is all part of our larger cryptocurrency ecosystem that we’ve been creating – a way for funds to move easily in and out of crypto without barriers to entry. Stay tuned for more updates on that ecosystem in the coming days.

Still have questions about Metal X? Be sure to check out the Metal X Twitter account for the latest updates.

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