Tuesday, October 4, 2022

Binance Commemorates 5th Anniversary With Fee-Free Trading 

Binance is celebrating its 5th anniversary with the elimination of trading fees from its listed Bitcoin (BTC) trading pair.

Globally, the prominent exchange is one of the few crypto firms that offer low spot trading costs. It has also successfully maintained that position over the years.

The world’s leading cryptocurrency exchange, Binance, initially announced its anniversary on 20th May, and to commemorate the milestone, an in-person event will take place on 8th July in Paris. Users’ participation in social media publicity and other games will attract prizes worth $4,500.

Additionally, users will enjoy zero trading costs on about thirteen stablecoin-BTC combinations starting 08th July. These combinations include BTC/USDC, BTC/RUB, BTC/UAH, BTC/BUSD, and nine others. Other forms of fee promotions like rebates are also withdrawn from them.

The VIP users get a promo that does not tamper with their trading fee level. Their 30-day volume calculation for the trading fee level of the BTC spot trading sets will not be affected. Binancians who qualify as liquidity providers with the Spot Liquidity Provider Program will have their maker volume calculation unaffected.

The expiration date for this ‘promo’ is yet to be disclosed. It is likely to exceed the two weeks allotted for the anniversary celebration. Binancians are urged to enjoy the offer until a notice of suspension is issued. 

Binance Portrays User-First Policy; Seeks Crypto Globalization

According to Changpeng Zhao, CEO of Binance, the zero trading fee is aligned with the exchange’s user-first policy. He regarded Binance as an ‘inclusive platform with accessibility in mind’. 

The exchange also continues to seek methods and policies to improve crypto trading globally. A few days ago, Binance signed an agreement with the Cambodian government. The agreement embodied the authority conferred on the exchange to help in developing a workable regulatory framework for the country. 

Binance will work with the Securities and Exchange Regulator of Cambodia (SERC) for the actualization of this project.

Rather successfully, Binance has established itself as the grandmaster in providing favorable trading conditions for users worldwide. With its pricing scheme that seem to be second to none, the exchange is encouraging more participation globally and making cryptocurrency accessible worldwide.

Victoria Nye
A Blockchain columnist who is enthusiastic about developing a network interface between the real world and the cryptosphere.

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