world’s largest cryptocurrency Binance.US, the US arm of exchange Binance, has removed spot Ethereum trading fees for all customers. This move comes six months after it dropped such fees for Bitcoin.
Binance.US Will Not Charge Four Trading Pairs
The exchange announced today that all new and existing users of Binance.US will pay no fees to trade ETH in four pairs: ETH/USD, ETH/USDT, ETH/USDC and ETH/BUSD.
Brian Shroder, CEO and chairman of Binance.US, said in a statement:
“By removing fees, first in BTC and now in ETH, we further solidify our position as a low-fee leader in crypto, raise awareness of the high fees consumers pay on other platforms, and help restore trust in the overall ecosystem.
Now, it is more critical than ever that platforms operate with the interests of users first.”
Binance.US will also simplify its fee schedule from the current three tiers to two tiers from January 2023. “We are simplifying our fee schedule to offer two tiers, one free and one at our current Tier II rates,” a company spokesperson said in a statement.
Launched in September 2019, Binance.US is one of the largest crypto exchanges by fiat trading volume. The spokesperson said that the elimination of Bitcoin transaction fees has helped to further increase transaction volumes.
When asked whether the zero-fee structure would apply to other cryptocurrencies as well, a company spokesperson said, “We are always examining and exploring opportunities to deliver greater value to users as part of our commitment to building the most customer-centric organization in crypto.”
*Not investment advice.
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