Recently, the U.S. cryptocurrency exchange BinanceUS no longer charges fees for buying or selling Bitcoins in U.S. dollars.
This includes removing Bitcoin trading fees for the three currencies USDT, USDC, and BUSD. Such stablecoins are tied to the U.S. dollar using USD reserves or other highly liquid financial instruments.
With this new announcement, BinanceUS has “helped the market and our customers in times of need,” said CEO Brian Shroder.
BinanceUS is the first American crypto exchange to scrap trading fees on multiple Bitcoin trading pairs. It’s an impactful but arguably counterintuitive decision for a company whose primary business model is dependent on such charges, especially considering the high volumes of Bitcoin and USDTreated on most days.
Despite the current downtrend market, Binance still announces more than 2,000 job opportunities while many cryptocurrency exchange companies are cutting staff such as Coinbase,…
C.Z. has announced that it has built a “war chest” after choosing to end U.S. advertising spots in bull markets. Indeed, while Binance is the largest cryptocurrency exchange in the world, Coinbase beat it in popularity in the U.S. A bold move like eliminating Bitcoin trading fees could attract more investors.
Strike is a Bitcoin payment application that has implemented the same strategy when it has reduced the commission for Bitcoin purchases to 0.3% per transaction.
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