Binance US mainly targets customers in the United States, as the name would imply.
The removal of fees for Bitcoin and Ethereum solidifies Binance’s position.
The “zero fee price model” offered by Binance US is now available for Ethereum. There are currently four Ether spot market pairings available for trading without fees: ETH/USD, ETH/Tether, ETH/USD Coin, and ETH/Binance USD (BUSD). The U.S trading platform has instantly done away with gas costs for all “Buy & Sell” transactions involving Ethereum.
All Bitcoin spot market trading costs for BTC/USD, BTC/USDT, BTC/USDC, and BTC/BUSD were eliminated in June on Binance US, following in the footsteps of Robinhood, which pioneered no-commission crypto trading in 2018.
Low Fee Leader in Crypto
Despite sharing a name and logo with its international counterpart, Binance US is a whole separate business that operates just in the United States. Binance US mainly targets customers in the United States, as the name would imply.
The removal of fees for Bitcoin and Ethereum solidifies Binance’s position “as the low fee leader in crypto,” according to Binance’s US president and CEO Brian Shroder. Now more than ever, he said, “it is critical that platforms operate with users’ interests first.”
Exchanges are essential to the widespread use of cryptocurrencies. Users are more likely to engage in digital asset transactions if they may send and receive such assets for free. If the cost of transferring money is too high, millions of people could forego or restrict their use of the technology.
If an exchange does not charge a fee, it might nevertheless make money on the trade by charging a spread. The spread in the trading world is the difference between the sale price and the purchase price of a certain currency pair.