Binance Launches Zero Fee Bitcoin (BTC) Trading

He exchange The world’s largest cryptocurrency exchange Binance announced the introduction of a commission in the amount of trade zero for the First Digital USD (FDUSD) / Bitcoin (BTC) pair.

Binance’s official statement states that “Users will receive zero maker and taker fees for spot trading and BTC/FDUSD margin pairs.”

Zero Fee Trading on Binance

The platform added Bitcoin and Ethereum (ETH) with pairs spot trading and margin for FDUSD.

In addition, users will receive a commission of “manufacturerzero in pair trade ETH/FDUSD, however, the commission “taking‘ will remain normal. Standard rates apply after promotion ends. trade.

The week before, exchange cryptocurrencies have already announced the listing stablecoin FDUSD with pairs trade BNB/FDUSD, FDUSD/BUSD and FDUSD/USDT.

In honor of the promotion Binance removed fees for manufacturer in all pairs spots trade from FDUSDas well as in any new pair spots trade and the margin of the aforementioned stablecoin.

However, after a few hours, the platform suspended trading with stablecoin and canceled all pending FDUSD orders. Binance cited technical issues with the liquidity provider.

Promotion Background

Last year, Binance eliminated fees for spot trading for BTC/USDT, BTC/BUSD, BTC/USDC, BTC/EUR, BTC/TRY and more.

Demand spot trading without commissions was so high that the platform increased its market share among competitors by 20% during promotion.

Commission-free pairs accounted for over 65% of total trading volume. trade on Binance in mid-March. When exchange removed ads, volume trade BTC/USDT on Binance fell by 90%.

Top 5 Cryptocurrency Exchanges by Trading Volume
Top 5 cryptocurrency exchanges by trading volume. Source: CoinGecko

According to Kaiko, the volume of transactions spots in that exchange The cryptocurrency fell by 70% in early July due to the return of transaction fees in combination with bitcoin.

However, Binance is not the only platform that has suffered from the drop in trading volume. trade. Total spot volume trade more than two dozen exchanges cryptocurrencies it fell to 2020 levels.

Denial of responsibility

Disclaimer: In accordance with the guidelines of the Trust Project, BeInCrypto is committed to providing fair and transparent reporting. This news article is intended to provide accurate and timely information. However, readers are encouraged to do their own fact-checking and seek expert advice before making any decisions based on this content.

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About Ankur Jain

I'm Ankur Jain, and I'm thrilled to be part of the team as an editor. I call India my home, and I have a passion for crafting engaging and well-written articles. With a solid background of 7 years in this field, I bring a wealth of experience to my work. It's my pleasure to contribute to the informative and captivating content you'll find on Stay tuned for some exciting stories and news pieces coming your way!

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