PARIS — Binance celebrated its fifth anniversary by eliminating trading fees on many Bitcoin trading pairs.
Since July 8, Binance users have been able to trade fee-free on thirteen stablecoin and fiat combinations. These combinations include BTC/AUD, BTC/BIDR, BTC/BRL, BTC/BUSD, BTC/EUR, BTC/GBP, BTC/RUB, BTC/TRY, BTC/TUSD, BTC/UAH, BTC/USDC, BTC/USDP, and BTC/USDT, according to the Binance website. The fee-free trading will extend beyond the two weeks of anniversary celebrations until further notice. The move makes Binance the first major centralized crypto exchange to remove fees on Bitcoin transactions.
Binance, a leading blockchain, and cryptocurrency infrastructure provider, has always offered low spot trading fees. Its fees on other trades are 0.1 percent, with a 25 percent discount on trades using its native crypto token, BNB. Competitors such as Gemini and Coinbase typically charge transaction fees from 0.5 percent to 1.49 percent.
To avoid potential problems, Binance says it reserves the right to disqualify from fee-free trading “trades that are deemed to be wash trades or illegally bulk registered accounts, as well as trades that display attributes of self-dealing or market manipulation.
Founder Changpeng Zhao says eliminating the fees is another move toward Binance’s goal of becoming more inclusive and accessible. Zhao used the occasion of the anniversary to thank its users.
“Within five years, Binance has amassed an amazing community that believes in us and supports our vision. Our growth and achievements would not have been possible without them. We hope to give back to the community by providing them with the world’s best products and services,” he said.
The fee change is one of several activities that are part of the anniversary celebration entitled “Binance: Past, Present, and Future.” Binance also launched limited edition NFTs in a Mystery Collection as part of the celebration. The celebration also includes several giveaways, live events, a conference, and the 5YA awards.
Binance launched in July 2017. Within six months, it became the world’s largest crypto exchange. Now, Binance provides infrastructure solutions, research, educational resources, investment services, incubation services, and programs for the social good, as well as trading services. US users access Binance services through Binance US rather than Binance.com.
About Binance
Binance, headquartered in the Cayman Islands and Seychelles, is the largest digital asset exchange by volume.
Source: https://www.prnewswire.com/news-releases/binance-celebrates-5th-anniversary-with-zero-bitcoin-trading-fees-301581241.html
