Users from the US can trade four spot pairs with BTC on the cryptocurrency exchange BINANCE with no commission. The cost for the “Buy Cryptocurrency” service is 0.5%.
Trading pairs of USD, USDT, USDC, and BUSD with Bitcoin is possible with no commission. Additionally, you can utilize the OTC gateway for OTC transactions without paying a commission fee and convert one cryptocurrency to another.
The spokesman responded that bitcoin would act as a test for the model, which may eventually be implemented across other tokens and pairs when asked if the zero-fee framework will also be extended for other cryptocurrencies.
The exchange’s representatives said they took this action to aid users of the cryptosphere during the current economic downturn. According to Brian Schroeder, CEO of the exchange’s American branch, the exchange anticipates increasing the availability of cryptocurrencies in the context of the 2022 crypto winter.
The information was released two months after Binance.US received $200 million at a pre-money valuation of $4.5 billion in its first investment round. According to reports, the exchange wants to fund an additional $50 million.
A new subscription-based service that would grant consumers access to improved functionality, including zero-fee trading, is being tested by Coinbase. In the world of traditional finance, commission-free trading is more prevalent.