Crypto Exchange Binance.US Eliminates Trading Fees for Ether
The exchange will also offer additional trading fee discounts to customers who pay their trading fees with BNB tokens.
Binance.US is getting rid of trading fees for ether (ETH), the company said Tuesday, expanding its zero-free program beyond just bitcoin (BTC).
Free trading will apply to the following spot market pairs: ETH/USD, ETH/USDT, ETH/USDC and ETH/BUSD. The exchange said it will also offer additional trading fee discounts to customers who pay their trading fees with BNB tokens.
Back in June the exchange, a unit of the largest crypto exchange by volume, became the first U.S. crypto exchange platform to eliminate bitcoin trading fees in an effort to attract more users. It said at the time it would do the same for more tokens in the future.
"By eliminating fees first on BTC and now ETH, we are ... raising awareness for the high fees consumers are paying on other platforms, and helping to restore trust in the greater ecosystem,” said Brian Shroder, CEO and president of Binance.US, in a press release.
In the wake of the FTX collapse and skeptical crypto market sentiments, JPMorgan said last month that centralized exchanges will continue to dominate digital-asset trading volumes.
Binance.US also announced this week its launch in two new U.S. territories – American Samoa and Guam. It also received its Money Transmitter Licenses (MTL) in Louisiana, bringing the total secured MLTs in the U.S. to 43.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.