the exchange Binance.US eliminated spot trading fees on Bitcoin. Exchange users can exchange bitcoins for US dollars, tether, and other stablecoins with no extra fees.
- Binance.US removed fees on Bitcoin transactions
- Free works for trading BTC with USDT, USD Coin and Binance USD
- Fee-free service is only valid in the United States
The cryptocurrency exchange Binance.USthe US subsidiary of Binancesaid it is eliminating tariffs on the trade of Bitcoin in cash for all your customers.
The new decision Binance.US effectively allows customers to exchange bitcoin cash for US dollars, Tether, USDCoin Y BinanceUSDor vice versa, without paying spot trading fees.
Binance.US He published it in a press release and social networks, so many American media also reported the news.
The best #crypto platform at low fees just got better.
#BinanceUS is the first major platform to offer free #bitcoin trading for BTC/USD, BTC/USDT, BTC/USDC and BTC/BUSD spot pairs, to all users with no trading volume requirements.
the best #crypto platform for low fees just got better. #BinanceUS is the first major platform to offer zero-fee #bitcoin trades for BTC/USD, BTC/USDT, BTC/USDC & BTC/BUSD spot pairs, for all users without trading volume requirements.
—Binance.US ???????? (@BinanceUS) June 22, 2022
Binance.US which claimed to offer some of the lowest trading fees in the industry and charged a 0.1% spot trading fee on less than $50,000 of trading volume, says it will now not charge per spot transaction.
“We see this as an opportunity to revolutionize the way fees are approached in our industry, increase accessibility to cryptocurrencies, and help our market and customers in a time of need,” said the CEO of Binance.US, Brian Shroder, in a statement.
as it says TheWall Street Journal, it is the latest example of how organizations, both traditional brokerages and digital startups, are offering discounts or waiving fees to attract individual investors. To compensate for lower transaction fees, some brokerages have transferred customers’ uninvested cash from brokerage accounts to banking products. Others have routed customer orders to e-commerce companies called market makers in a practice known as pay-per-order flow.
Binance.USlaunched in September 2019, is one of the largest cryptocurrency exchanges by trading volume, according to the data provider CoinGecko. In April 2022, the company raised over $200 million in a seed round that valued it at $4.5 billion. Earlier, in January of this year, he said that he would open an office in the metaverse.
Also, this announcement comes as Bitcoin and major cryptocurrencies are in a bear market and many exchanges, including rivals to Binance.US, Coinbase Y Gemini, They have reduced staff. So far it is unknown if Binance it will also follow that path or will continue to maintain the same plant.
It is worth noting that investors affected by the ecosystem land threatened to sue Binance.US for misleading information to sell the coin before its collapse.
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