Binance reduces Bitcoin transaction fees to 0

Binance reduces Bitcoin transaction fees to 0

Binance will waive Bitcoin trading fees from July 8. The program will run for 2 weeks. This announcement was made as part of the 5th anniversary celebration.

On July 6, global cryptocurrency exchange Binance announced that it will be spot-free Bitcoin for users with stablecoin and fiat pairs.
The program starts on 8/7 and lasts 2 weeks. This announcement was made as part of the 5th anniversary celebration. Users can buy/sell Bitcoin with stablecoins and fiat for $0.
Binance reduces Bitcoin transaction fees to 0
Binance CEO Changpeng Zhao said the move is in line with the company’s user-first philosophy. Accordingly, Binance strives to offer the most competitive fees in the industry.
“With the philosophy of the user first, Binance always offers the most competitive fees in the market. Binance is a platform that opens the door to everyone. Eliminating spot trading fees with BTC pairs is the first step towards that goal.
Over the past 5 years, Binance has assembled an amazing community that believes in us and our mission. Our growth and success would not have been possible without them. We want to give back to the community by providing them with the best products and services.”
Transaction fees have become the top concern of investors when deciding to choose an exchange. Therefore, exchanges all plan to significantly reduce this fee to capture market share when the ‘crypto winter’ is underway.
In addition to Binance’s fee reduction, Coinbase has begun consolidating Coinbase Pro features into its main website. At the same time, Coinbase maintains the same fees offered on the Pro platform.
2 weeks ago (June 21) Binance.US (Binance exchange in the US) also made a similar announcement when cutting transaction fees to zero for Bitcoin. In addition, the exchange also revealed a plan to reduce transaction fees for many coins / tokens in the future.
“Binance.US has removed Bitcoin transaction fees indefinitely for the above four trading pairs. This is our effort to accelerate users’ access to cryptocurrency and revolutionize the cost of crypto money,” a Binance.US representative stated.

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