The cryptocurrency giant announced the elimination, from Friday, of trading fees in thirteen combinations between bitcoin and stablecoins or fiat currencies.
The cryptocurrency giant Binance, with 120 million users, continues to be discussed at this time as a marketing operation.
On its fifth anniversary, the company announced the removal, starting Friday, of fees for the sale of 13 bitcoin pairs with stablecoins and fiat currencies. Concretely, this means that users can exchange their bitcoins for stablecoins or fiat currencies free of charge.
“The new transaction fees will be in effect until further notice, allowing Binance users around the world to enjoy the feeling of being free beyond the two-week anniversary celebration,” Binance said in a statement. .
For newcomers, it may be a question of caution if there is a change in the trading fee policy associated with this type of transaction on Binance. The company claims to have offered the “most competitive compensation” in the sector since its launch.
“At heart, Binance is an inclusive platform with flexibility in mind.
Binance vs FTX
Despite Binance’s claims, its competitor FTX platform may offer even lower trading fees.
“Binance is a broker that built part of its reputation on low fees. The low fee (whether you buy or sell crypto) is 0.1% of the value of each transaction. This is the maximum taken It is also possible to lower these fees in a simple way, says the Presse-citron site that recently compared the fees of Binance and FTX.
The site also believes that the FTX platform can be “more” competitive than Binance in terms of fees charged.
“The fees can be a maximum of 0.070% if you sell assets through its platform. Like its competitors, it is possible to lower these fees by having a trading volume of 30 days or by -belongs to the FTT tokens, the cryptocurrency broker itself and its platform”, added the media.
A few days ago, the Binance US branch of Binance also announced the removal of trading fees for some products.
These various announcements from Binance are in contrast to announcements from platforms that have changed their pricing conditions to deal with the bear market. For example, Crypto.com announced that it will charge 1% for credit card deposits from its users in Europe, while Bitsamp will impose a monthly fee of 10 euros on inactive accounts from the beginning of August.
Termination of certain trading operations in France
As a reminder, the trading conditions remain different for users from one country to another. From August 2, Binance will no longer allow its French customers to perform certain trading operations.
“While Binance is constantly evaluating its product and service offerings to comply with local regulations, we will be making changes to the following products for users living in France: futures, options, leveraged tokens, binance income (double investment),” Binance explained in an email to its users.