Binance US to Remove Trading Fees From Bitcoin

The American counterpart of Binance (BinanceUs) will not charge fees for any Bitcoin buy or sell order, purchased with U.S dollars.

Stablecoin traders are not left out, with the top 3 USDT, USDC, and BUSD also having fees eliminated. A stablecoins intended value is always a dollar using a variety of liquid financial instruments, and USD reserves to maintain the price.

The move is being rolled out today and is “an opportunity to revolutionize the way fees are approached in our industry, increase accessibility to crypto, and help our market and customers in a time of need,” BinanceUS CEO Brian Shroder said in a company statement.

This will make BinanceUS the first American-based crypto exchange to remove trading fees throughout Bitcoins trading pairs. A gutsy pivot as much of the revenue of the exchange hails from trading fees, especially when it comes to the high amounts of Bitcoin and USDT that are traded every day.

Keeping up with its refusal to move the way the rest of the industry is Binance also announced last week that as many were looking to downsize, they'd be opening 2,000 more job positions. A decision made to possibly grab top of the talent that is leaving their competitors.

Ever-present CEO of Binance Changpeng Zhao has said to have built up a “war chest”, after deciding to end U.S ad spots in the middle of the bull market.

Binance may hold the crown as the largest cryptocurrency exchange in the world, but the same can not be said for the U.S as Coinbase holds that acclaim, although a move such as this one could see many traders flocking to Binance.