Tuesday, February 7, 2023
HomeETHBinance US Plans To Eliminate Trading Fees For Ethereum

Binance US Plans To Eliminate Trading Fees For Ethereum

In a recent announcement made by Binance US, the company said that it will be expanding its “zero charge pricing model” to include Ether ETH tickers, starting at $1,227 immediately. According to the release, users may now freely trade in four different Ether spot market pairings. These pairs are as follows: ETH/USD, ETH/USDT, ETH/USDC, and ETH/BUSD.

The Ethereum “Buy & Sell” section on the website of the US exchange has had its gas costs completely removed, effective immediately. This modification applies to all transactions using Ethereum. In June, Binance US followed in the footsteps of Robinhood, which was the pioneer in no-commission cryptocurrency trading in 2018, by removing all Bitcoin BTC tickers and reducing spot market trading fees by $16,808 for BTC/USD, BTC/USDT, BTC/USDC, and BTC/BUSD. Robinhood was the first company to offer no-commission cryptocurrency trading in 2018.

The cryptocurrency exchange that works on a worldwide scale is known by the same name and uses the same logo as a subsidiary that operates independently in the United States. Binance US. Binance US is mainly intended to serve crypto traders from the United States, as its name suggests.

The elimination of costs on both Bitcoin and Ethereum, as stated by Brian Shroder, president and CEO of Binance US, confirms the company’s position “as the low fee leader in crypto,” according to Shroder. He went on to say that “it is more important than ever for platforms to function with the interests of users at the forefront.”

Exchanges are an essential part of the widespread use of cryptocurrencies. Users are encouraged to engage in more transactions involving digital assets when there are no fees associated with doing so. If the cost of transferring money from one location to another is high, millions of people who are potentially interested in using the technology will either not use it at all or use it to a much lesser extent.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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