The bear market definitely brings everyone down. However, Binance, the world’s largest cryptocurrency exchange, has made an announcement in light of its fifth anniversary that could lighten the mood of crypto investors. Binance Revealed The Exchange Wouldn’t Charge For Trading Bitcoin [BTC] spot trading pairs.
In June, Binance decided to charge zero trading fees solely for its US customers. However, the latest announcement will allow users around the world to trade Bitcoin for free. As of Friday, Binance customers should be able to trade around 13 pairs of BTC without incurring any fees.
In an extensive blog afterBinance noted that 13 were spot trading pairs, 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 one of the most traded cryptocurrencies. Reducing trading fees to zero on such prominent cryptos could mean a loss to the platform. However, Changpeng Zhao wants to be there for its customers.
Speaking of Binance’s reserves and its 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 costs. However, after a massive backlash from the community, the exchange went ahead with the cancellation.
The bear market does not bring out the best side of crypto platforms. Extensive layoffs and lawsuits are at the forefront. In the midst of all this, Binance brought peace to the community. The exchange has even tried to enter several markets over the world†
In addition, the community praised CZ for its latest move and hoped that more exchanges would eliminate trading fees.