This statement follows the cryptocurrency exchange's removal of all trading costs for Bitcoin payments months prior. As of right away, Ether (ETH) is now included in Binance US's “zero charge price model,” according to the company's announcement.
Four Ether spot market pairs, including ETH/USD, ETH/USDT, ETH/USDC, and ETH/BUSD, have become open for user trading, the release claims. Additionally, the US exchange has instantly stopped charging gas fees for all Ethereum completed transactions using its platform's “Buy & Sell” feature.
By eliminating all Bitcoin (BTC)spot stock trading costs for BTC/USDT, BTC/USDC, , BTC/USDand BTC/BUSD in June, Binance US joined the ranks of Robinhood, which invented no-commission crypto trading in 2018.
Although it runs independently in the US, Binance US uses the same logo and brand as the main Binance cryptocurrency exchange. Binance US, as its name suggests, mainly serves American cryptocurrency traders.
“Now, more than ever, it is vital that platforms operate with users' interests first,” said Brian Shroder, president and CEO of Binance US, adding that eliminating charges on both BTC and ETH solidifies the organization's brand as the low fee leader in crypto.
Exchanges are essential to the acceptance of cryptocurrencies. Users are encouraged to conduct more transactions with digital products by enabling zero-fee transfers. Thousands of potential customers would shun or restrict their utilization of the system if transmitting money between locations was expensive.
Spreads allow exchanges that don't charge fees to nevertheless profit from fee-free trades. The gap between such a trading pair's bid (sell) price and ask (buy) price is referred to as a spread in the industry.
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