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Mode Share Price Barely Moved Despite Eliminating Bitcoin Trading Fees

Updated: 17 Nov 2021

Mode Global Holdings PLC (LON: MODE) share price barely moved despite the fintech company’s decision to eliminate Bitcoin trading fees for a limited time to attract new users and popularise its Bitcoin services.

The fintech company has removed its 0.99% trading fee for buying and selling Bitcoin, allowing users of its Mode app to buy and sell Bitcoin while incurring zero costs to bring Bitcoin ownership to most UK consumers.

Mode Global noted that Bitcoin transaction costs had risen to a high of 4.99%, making it quite expensive for investors to buy and sell Bitcoin, but Mode is keen to transform the industry with its latest move.

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However, investors keen to take the company up should capitalise on this limited offer from November 17, 2021, to December 31, 2021.

The fintech company has also partnered with Anthony Pampliano, a Bitcoin investor who hosts The Pomp Podcast, a popular podcast covering finance, business, and Bitcoin.

The podcast has had over 30 million downloads since its launch. So it is pretty popular across the UK, which provides Mode with the perfect avenue to reach its target customers with its zero-fee Bitcoin transactions offer.

Ryan Moore, Mode’s CEO, commented: “Now more than ever, we are focused on getting Bitcoin into the hands of millions. Our goal is to remove the barriers and make it appealing for new and existing Bitcoin holders to confidently enter the Bitcoin world and maximise their holdings. We’ve already made our app intuitive for Bitcoin newcomers, and we’ve pledged to reduce our carbon emissions so that users can grow their Bitcoin without harming the environment. With this campaign, we hope to remove even more barriers and accelerate the adoption of Bitcoin in the UK.”

Mode Global shares have fallen 20.93% since January but seem to have bottomed recently and are slowly edging higher following the recent positive announcements from the company.

Inventors looking to buy Mode shares may find the current prices quite attractive.

*This is not investment advice. Always do your due diligence before making investment decisions.

Mode Global share price.

IG chart of Mode Global share price 17-11-2021
Source: IG

Mode Global shares edged 0.75% higher to trade at 33.75p, rising from its opening price of 33.50p.

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