Binance.US, the US branch of a global exchange, has now taken away all fees for trading bitcoin spot on its platform. Users will now be able to trade bitcoin in real time for free with the Us dollar, BUSD, and tether.
Before, the site charged 0.1 percent for transactions of less than $50,000. The costs happen less often the more you buy. Binance. US can back up its claim that it has the lowest fees by taking this step.
CEO of Binance.US Brian Shroder said, “We see this as a chance to change how we handle fees in our business, make cryptocurrency easier to get, and help our market and customers when they need it.”
In the current market, the way the US is acting will attract more traders.
The bear market is making things very hard for both investors and institutions. Binance.move US’s is a good example of how to attract independent traders and investors when the market is unstable.
CoinGecko’s Top Cryptocurrency Exchanges Ranking by Trust Score says that Binance is the best exchange in the world. Binance.US is now third in the US. After getting more than $200 million in a seed round in April, the company was worth $4.5 billion.
For an exchange that makes most of its money from trading fees, the choice isn’t clear. The move also came as a surprise because it happened during a busy time when a lot of bitcoin and USDT were being bought and sold.
But despite the difficult market conditions, Binance seems to be pretty sure of everything it does. Binance was taking applications for more than 2,000 jobs at the same time that all of the big exchanges were laying off people because of how bad the market was. CZ says that the exchange has built up a “strong war chest,” and they think that the current “crypto winter” is the perfect time to invest more in hiring new employees.