Binance, the top cryptocurrency exchange, which has an American subsidiary, has eliminated fees from its spot market for Bitcoin trading pairs.
The zero-fee trading service is available for traders who want to exchange BTC for USD, USDT, USDC, and BUSD in the spot market, according to the exchange’s official announcement.
We take great pride in the fact that we now charge zero fees for trading Bitcoin (BTC) across four significant trading pairs: BTC/USD, BTC/USDT, BTC/USDC, and BTC/BUSD. The only significant cryptocurrency exchange currently offering free Bitcoin spot trading services to all users without a minimum trading volume requirement is Binance.US.
Additionally, Binance.US modified its fee structure and provided additional trading fee discounts to customers who could fulfill certain requirements. Customers will save an additional 25% on both maker and taker fees for all trading pairs when they pay with Binance Coin (BNB).
Given the severe market downturn that is affecting all cryptocurrency investors, the company believes that its revised pricing model is what the sector needs right now.
We believe that given recent market developments, this is the ideal time to provide our customers and the larger crypto community with a chance to save money.
The action was taken shortly after Binance CEO Changpeng Zhao disclosed that the company is focusing on lowering trading costs and raising awareness of cryptocurrencies.
Binance in the interim.
US is not the only cryptocurrency exchange in the US to offer users zero-fee trading.
Leading US cryptocurrency trading platform Coinbase introduced a zero-trading-fee service in beta in March for a select group of users. Users would be able to buy and sell cryptocurrency assets without having to pay transaction fees, according to the exchange’s new Coinbase One feature.
Similar to this, bitFlyer USA, the American branch of the Japanese exchange bitFlyer, reportedly introduced a 0% trading fee service to both new and existing customers in 2020. The exchange still offers the service as of the time of publication.