Hot Development: Binance Is Removing the Transaction Fee on the Giant Altcoin! Binance US Has Announced!
The world’s largest cryptocurrency exchange in terms of volume is now even bigger after the FTX collapse. And it is taking an important step to increase its share of the US Sunday. Currently, Coinbase and Binance, the largest cryptocurrency exchange in the United States, see the customer potential here. With the collapse of FTX, FTX US customers, at least those who do not resent cryptocurrencies, are turning to alternative exchanges.
Binance Transaction Fee Is Lifted
Binance USA announced today that it is getting rid of transaction fees for Ether (ETH) and does not charge transaction fees for ETH after Bitcoin. The free trading will be valid for ETH/USD, ETH/USDT, ETH/USDC and ETH/BUSD pairs. Pay October with BNB tokens The exchange will also offer additional transaction fee discounts to customers who pay their transaction fees with BNB tokens. In June, the exchange became the first U.S. crypto exchange to eliminate Bitcoin transaction fees in an effort to attract more users.
Brian Shroder, CEO of Binance US, said;
”By removing fees first on BTC and now on ETH, we are raising awareness of the high fees that consumers pay on other platforms and helping to restore trust in the larger ecosystem”.
Will Ethereum Rise?
The latest move shows at first glance that investors who want to buy ETH can reach their goal with less cost. However, there is an experience that we have experienced after Bitcoin transaction fees were removed. According to this, the ETH price will not experience a serious rise with the latest development, but the trading volume will increase significantly. A serious opportunity has arisen for investors who want to profit from short-term trading. Binance US investors will be able to buy and sell ETH dozens of times a day, earning from price movements of 10-20 dollars according to their capital. For example, when ETH bought from $ 1200 is sold at $ 1210, the trader will have earned $ 10 because he will not pay a transaction fee. Of course, for a profit of $ 10, the investor must have at least $ 1200.
The increase in transaction fees may attract new investors to the Binance exchange hoping to profit from volatility. For traders who pay thousands of dollars in trading fees on a monthly basis, what Binance USA offers is a significant advantage. Binance global users have already had a similar advantage in Bitcoin pairs.
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