Binance.US will waive Bitcoin (BTC) trading fees in an effort to attract more users.
Binance.US Free Bitcoin Trading
June 22, Binance.US, the branch of the world’s largest cryptocurrency exchange Binance in the US market, said that it will be free to trade Bitcoin (BTC) for users.
Specifically, all existing users of Binance.US will not need to pay fees when trading BTC/USD, BTC/USDT, BTC/USDC and BTC/BUSD pairs.
“Binance.US will waive BTC trading fees in an attempt to revolutionize transaction fees and increase access to crypto.”A representative of the exchange said
Both Binance and Binance.US use a fee model for both buyers and sellers depending on trading volume. The exchange admits that freeing users will more or less affect revenue, but BTC will act as a test for Binance.US to study the possibility of adding other coins for free.
In April 2022, Binance.US raised $200 million at a valuation of $4.5 billion. Also today, news site CoinDesk confirmed that the exchange is planning to raise another 50 million USD.
The cryptocurrency exchange segment is in turmoil when many big names in turn announce the reduction of many employees, such as Coinbase, Gemini, Bybit and Crypto.com.
However, Binance and FTX are two platforms that have confirmed that they are not affected by the market situation, and still maintain the expansion and recruitment strategy in the near future.
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