Binance announces zero trading fees on 13 Bitcoin pairs

Sahana Kiran
Source – Unsplash

The bear market is certainly bringing everyone down. However, the world’s largest cryptocurrency exchange, Binance made an announcement in light of its fifth anniversary that could lighten the mood of crypto investors. Binance revealed that the exchange would charge zero fees on trading for Bitcoin [BTC] spot trading pairs.

Back in June, Binance decided to employ zero trading fees solely for its US customers. However, the latest announcement ensures users across the globe would be able to trade Bitcoin for no fees. Starting from Friday, Binance customers would be able to trade about 13 pairs of BTC without having to pay any fees.

In an elaborate blog post, Binance noted that 13 spot trading pairs were, BTC/AUD, BTC/BIDR, BTC/BRL, BTC/BUSD, BTC/EUR, BTC/GBP, BTC/RUB, BTC/TRY, BTC/TUSD, BTC/UAH, BTC/USDC, BTC/USDP, and BTC/USDT.

It should be noted that trading fees are an essential part of any crypto platform. Bitcoin is undoubtedly among the most traded cryptocurrencies. Bringing trading fees down to zero on such prominent crypto could pose a loss to the platform. However, Changpeng Zhao intends to be there for his customers.

Speaking about Binance’s reserves and the latest addition to the exchange, CZ tweeted,

Bears have nothing on Binance

Another crypto exchange, Bitstamp has been making a lot of headlines lately. The platform announced that it would charge inactive users a total of €10 [$10.20] monthly fee. However, after immense backlash from the community the exchange went on to cancel it.

The bear market isn’t bringing out the best side of crypto platforms. Extensive layoffs and lawsuits have been taking the front stage. Amidst all of this, Binance brought respite to the community. The exchange has even been trying to veer into several markets across the globe.

Furthermore, the community lauded CZ for his latest move and hoped more exchanges would eliminate trading fees.