Exciting News for Ethereum Traders
Binance US has just unveiled a delightful holiday gift for crypto enthusiasts—its zero fee price model now extends to Ether (ETH). If you’ve ever wished to buy or trade ETH without the burden of fees, your dreams have come true (just in time for the holiday rush, no less!).
Four Pairs to Gift Yourself This Season
Effective immediately, you can trade four Ether spot market pairs without incurring any trading fees. The pairs available for your merry trading are:
- ETH/USD
- ETH/Tether (USDT)
- ETH/USD Coin (USDC)
- ETH/Binance USD (BUSD)
Yes, you read that right—no trading volume requirements, no hidden fees, just pure trading joy, and maybe a bit of holiday spirit!
Saying Goodbye to Gas Fees
But wait, there’s more! Binance US is also offloading gas fees on all Ethereum transactions conducted through their “Buy & Sell” feature on the site. Imagine the money saved just in time to hit the holiday shopping circuit!
The Battle of the Exchanges
Binance US, although operating independently, is sharing branding with its global counterpart. It’s like the cooler, cousin who brings the best snacks to family gatherings—primarily focused on American traders. Just like its earlier move with Bitcoin trading fees, this strategy echoes the moves made by other platforms like Robinhood, which first tackled the no-commission model back in 2018.
User-Centric Strategies Make Waves
Brian Shroder, the president and CEO of Binance US, shared his excitement stating that eliminating fees positions the platform as a steady leader in the low fee arena. It’s not just about being wallet-friendly; it’s about putting users first:
“Now, more than ever, it is critical that platforms operate with users’ interests first,” he remarked.
This initiative is a step towards encouraging users to engage more actively with digital currencies. After all, if transactions cost a fortune, many potential users might just stick to their piggy banks.
How Do Exchanges Make Money?
Zero-fee exchanges can still profit through spreads—the difference between the bid and ask prices of trading pairs. So, while you might be scoring one for the team, the exchanges are making sure they’re not losing too much in the process.
Final Takeaways
In the ever-evolving world of crypto, Binance US taking a bold step towards zero fees for Ether trading could usher in a new wave of users and transactions. If you’ve ever felt hesitant about trading Ethereum because of fees, now’s the time to dive in!
