Binance is celebrating its fifth anniversary by offering no bitcoin trading fees.
Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, is commemorating its fifth anniversary by waiving trading fees across a wide range of bitcoin spot trading pairs.
From July 8, users will be able to trade fee-free on thirteen stablecoins and fiat combinations, including BTC/USDT, BTC/BUSD, BTC/USDC, BTC/EUR, BTC/TRY, and more, according to a statement released by the platform.
While Binance has long had one of the lowest spot trading fees in the industry, with this latest move, it is establishing itself as the global pricing leader. The new trading fees will remain in effect until further notice, allowing Binance users around the world to continue to enjoy fee-free trading after the two-week anniversary celebration period.
Binance Founder and CEO “CZ” (Changpeng Zhao) said:
“In line with our user-first philosophy, Binance has always strived to provide the most competitive fees in the industry. At its core, Binance is an inclusive platform with accessibility in mind. Eliminating the trading fees on selected BTC spot trading pairs is another move towards that direction.”
He continues:
“Within five years, Binance has built an incredible community that believes in us and supports our vision.” Our success and growth would not have been possible without them. We hope to give back to the community by providing them with the best products and services in the world.”
Binance has eliminated trading fees.
Trading on the platform prior to its 5th anniversary incurs a 0.10 percent fee for trading on the platform as well as a 0.50 percent fee for Instant Buy/Sell, so your actual fee amount will depend on the amount of the trade. The fee increases with the size of the transaction.
However, the fees incurred by users were among the lowest in the cryptocurrency exchange market, making it a popular choice among traders.
The offering, which the firm attributed to commemorating its fifth anniversary, comes on the heels of a similar announcement made by the firm’s U.S. subsidiary on June 22.
“Outside of its anniversary, the obvious answer for why Binance is offering lower bitcoin trading fees is because (crypto trading) volumes have been going down,” Chris Brendler, senior research analyst at D.A. Davidson, told Yahoo Finance. “It’s more of a marketing initiative to generate trading activity alongside their anniversary.”
In a similar market move, we reported a few weeks ago that The blockchain platform had formed a partnership with Cristiano Ronaldo to promote non-fungible tokens (NFTs). a multi-year deal under which the Portuguese soccer star and Binance will collaborate to create a series of NFT collections for sale on the company’s platform.
The crypto platform makes crypto accessible to everyone in Africa and beyond by providing access to a wide range of financial tools while charging one of the lowest fees in the industry.
The company, which began as a crypto-to-crypto exchange in July 2017, has grown to become the world’s largest crypto exchange. Today, the company has expanded into a global blockchain ecosystem that includes trading services, infrastructure solutions, educational resources, research, social good and charitable programs, investment and incubation initiatives, and more.
