Crypto Exchange Binance.US Eliminates Trading Fees for Ether
One great way to pay for your trading fees is with BNB tokens. It saves you money, and the platform will offer a discount to people who pay in BNB.
Binance.US announced Tuesday that it would be eliminating all trading fees for ether, the company’s latest step to get involved in the growing cryptocurrency industry.
The company will give away 100% trading fees for spot market pairs for the following profiles: ETH/USD, ETH/USDT, ETH/USDC, and ETH/BUSD. The exchange said it will also offer additional discounts to traders who pay their trading fees with BNB tokens.
Announced in June, the exchange, which is the largest crypto exchange by volume, removed all trading fees for bitcoin in an effort to draw more customers. The decision to do the same for other tokens in the future seems to indicate that it was successful.
“By eliminating fees on BTC and now ETH, we are helping raise awareness of the high fees being charged on other platforms, and restoring people’s faith in the greater digital currency ecosystem,” said Brian Shroder, CEO and president of Binance.US.
In the wake of the FTX collapse and a declining crypto market sentiment, JPMorgan said last month that centralized exchanges will continue to dominate digital-asset trading volumes.
Binance.US has been expanding this week, with the announcement of its launch in two new U.S. territories – American Samoa and Guam. They have also received their Money Transmitter Licenses (MTL) for Louisiana, bringing the total secured MLTs in the U.S. to 43.