Binance has announced the launch of zero-fee Bitcoin for 13 spot trading pairs beginning July 8th until further notice.
The discounted trading is part of the exchange’s fifth-anniversary celebrations.
The 13 Bitcoin pairs are mostly against fiat and stablecoins on the exchange.
Binance US also announced zero-fee Bitcoin trading last month.
The team at Binance has announced the launch of zero-free Bitcoin trading for 13 spot pairs. The offer begins on July 8th until further notice.
Zero-Free Bitcoin Trading On Stablecoin and Fiat Pairs.
According to the official announcement, the discounted trading is part of the exchange’s fifth-anniversary celebrations. It will cover the following spot pairs mostly in stablecoins and popular fiat currencies: BTC/AUD, BTC/BIDR, BTC/BRL, BTC/BUSD, BTC/EUR, BTC/GBP, BTC/RUB, BTC/TRY, BTC/TUSD, BTC/UAH, BTC/USDC, BTC/USDP, and BTC/USDT.
All Binance users will enjoy zero maker and taker fees on the 13 spot pairs irrespective of VIP status. However, the 13 Bitcoin spot trading pairs will be excluded from the platform’s BNB fee discounts, rebates, and other fee adjustments or promotions.
Zero-Fee Bitcoin Trading Follows a Similar Move by Binance.US in June.
Zero-fee Bitcoin trading on 13 spot pairs on Binance follows a similar move made by Binance US last month. The American arm of Binance introduced zero-free Bitcoin trading on four pairs: BTC/USD, BTC/USDT, BTC/USDC, and BTC/BUSD.
The discounted trading consequently resulted in the shares of Coinbase and Robinhood dropping by nearly 10% and 1%, respectively. The offer by Binance.US came at the height of the ongoing crypto market drawdown and when fear in the crypto markets was relatively high.
Binance.US CEO, Brian Shroder, told Bloomberg in an interview that zero-fee Bitcoin trading was one way of increasing adoption. He said:
Since inception, we have been known for our really low fees. Zero-fee trading is something that we want to do because we can. This will generate positive user sentiment that will bring us new users.
Binance’s Zero-Fee Trading on 13 Bitcoin Spot Pairs Comes at a Time When Bitcoin is Battling to Hold $20k.
Binance offering zero-fee trading on 13 Bitcoin spot pairs comes when BTC is battling to maintain the $20k support zone above its previous all-time high of roughly $19,798 – Binance rate.
The move by Binance could therefore be concluded to be indirect or coincidental in encouraging the trading of Bitcoin on the trading platform at a time when crypto traders and investors remain cautious amidst high global interest rates and inflation.