SnapEx users are able to get free SNAP points by completing simple tasks. Users will also earn SNAP points for every trade made on the app or web trader.
SNAP points can then be used to reduce transaction fees and improve profit potential for users’ trades. Each 100 SNAP is equivalent to 1 USDT.
Transaction fees calculation
Fee = Margin x Leverage x 0.1%
How much do users save on transaction fees with SNAP points?
Let’s say you place an order with a margin of 100 USDT at 25x leverage. The transaction fees will be:
100 x 25 x 0.1% = 2.5 USDT
Assuming that you have 1,000 SNAP points, once you enable “SNAP deduction,” 125 SNAP points will be deducted. The deducted SNAP points will then offset your fees by 50%.
Since the value of SNAP points is tied to 1 USDT for every 100 SNAP, the amount of fees that will be deducted will depend on the amount of SNAP points that a user holds.
Disclaimer: SNAP points is not a token or cryptocurrency on the blockchain. It is a reward system created for SnapEx users.
How to Use SNAP to Reduce Fees:
APP - When placing a trade on the app order page, click the three dots on the upper right-hand corner to go to "Settings". Click the slider to enable "SNAP deduction".
WEB TRADER - When placing a trade on the web trader order page, click the three-lined icons at the "New order" bar on the upper right-hand side. You will see the "Trading settings" pop-up. Click the slider to enable "SNAP deduction".