Binance US has announced that it has extended its “fee-free model” to Ether (ETH) effective immediately.
According to the announcement, users can now freely trade four pairs of the Ether spot market: ETH/USD, ETH/USDT, ETH/USDC, and ETH/BUSD.
Just in time for the holidays, the best #crypto platform for low fees just got even better.#BinanceUS is pleased to offer zero-fees when you buy #Ethereum or trade ETH/USD, ETH/USDT, ETH/BUSD & ETH/USDC, for all users with no trading volume requirements.
—Binance.US (@BinanceUS) December 7, 2022
Effective immediately, the US exchange has also removed gas fees on all Ethereum transactions made through the “Buy and Sell” feature on its website.
In June, Binance US followed in the footsteps of Robinhood, which pioneered commission-free cryptocurrency trading in 2018, by removing all Bitcoin (BTC) spot market trading fees. for the pairs BTC/USD, BTC/USDT, BTC/USDC and BTC/BUSD.
Binance US operates as a separate entity in the United States, but continues to carry the same name and logo as the global cryptocurrency exchange Binance. As the name suggests, Binance US primarily targets US cryptocurrency traders.
According to Binance US President and CEO Brian Shroder, The removal of fees on both BTC and ETH cements the company’s position “as the low-fee leader in the crypto market.” He added that “now, more than ever, it is critical that platforms operate in the interests of users first.”
By eliminating these fees, we continue to cement our position as the low fee leader in crypto, bringing greater pricing competition & helping to restore trust in the broader ecosystem.
Now, more than ever, it’s critical that platforms operate with users’ interests first.
—Brian Shroder (@BrianShroder) December 7, 2022
With the removal of these fees, we continue to solidify our position as the leader in low-fee cryptocurrencies, which increases price competition and helps restore confidence in the broader ecosystem.
Now, more than ever, it is essential that platforms operate putting the interests of users first.
Exchanges play a crucial role in the adoption of cryptocurrencies. Facilitating fee-free transfers encourages users to make more transactions with digital assets. If sending funds from one point to another is expensive, millions of potential users would avoid or limit their use of the technology.
Exchanges that avoid charging fees can continue to profit from fee-free transactions through the spread. In trading, a spread is known as the difference between the bid (sell) price and the ask (buy) price of a trading pair.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Keep reading:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.