Binance.US, the American affiliate of the leading cryptocurrency exchange Binance, has removed fees for Bitcoin trading pairs from its spot market.
Binance.US Cancels BTC Spot Trading Fees
The exchange said in an official announcement that the zero-fee trading service is available for traders who want to swap BTC for USD, USDT, USDC, and BUSD in the spot market.
“We’re proud to now offer customers zero fees on Bitcoin (BTC) trading across four important trading pairs: BTC/USD, BTC/USDT, BTC/USDC, and BTC/BUSD. As of today, Binance.US is the only major crypto platform to offer free Bitcoin spot trading services to all customers, with no trading volume requirement.”
Furthermore, Binance.US also adjusted its fee schedule and offered additional trading fee discounts for customers who can meet certain conditions. Customers who use Binance Coin (BNB) to pay for trading fees will receive an additional 25% off both maker and taker fees across all trading pairs.
The company believes its readjusted pricing model is what the industry needs now, considering the massive market slump affecting all crypto investors.
“We think in light of recent market events now is the right time to offer our customers and the crypto community in general an opportunity to save money.”
The move comes a few weeks after Binance CEO Changpeng Zhao announced that the company is working on reducing trading fees and increasing crypto education.
Not the First
Meanwhile, Binance.US is not the only crypto exchange in the United States that has rolled out zero-fee trading for users.
In March, leading US crypto trading platform Coinbase launched a zero-trading fee service in beta for some users. The exchange said the new feature, Coinbase One, would allow users to buy and sell crypto assets without paying transaction fees.
Similarly, in 2020, bitFlyer USA, the American division of Japan’s bitFlyer exchange, launched a 0% trading fee service to both new and existing customers, Coinfomania reported. At press time, the service is still available on the exchange.