The Southeast Asian branch of the Binance P2P exchange announced a new fee promotion to be held in the last week of May. From the 24th to the 31st, new orders will get a 50% discount on maker fees during the activity period. The platform has listed the effective prices for all the assets during the promotional period on the website.
Launched in 2017, Binance P2P has become the largest cryptocurrency exchange globally by market capitalization in less than five years. New traders interested in joining the platform should research and find details from a reliable Binance exchange review. The platform has already listed more than 100 currency pairs and reported a 30-day volume of 140 billion dollars last April. And what is more, the exchange established a regulated global business in more than 140 countries as of yet.
Binance P2P was built to provide a simple way for crypto trading among users. Peer-to-Peer or P2P trading is known for giving more control over the assets than other methods. However, a third-party service provider, like Binance, needs to be a third-party service provider to enable this trading.
Users can place ads in the order book found on psp.binance.com. The activities from the ad will be marked as the maker as their liquidity helps with the making of the market. Normally, the platform charges a fee for facilitating the trade, known as the maker fee.
Southeast Asian Binance users can now enable a bulk discount on these fees thanks to a fee portion. Users from this region must post new ads during the last week of May to enable this offer, and all the existing ads will not be considered for the activity.
The promotional scheme from this exchange division will provide all the new ads with discounts on their maker fees throughout the activity week. As per the offer terms, makers will have to post ads during the activity with any of the local fiat currencies. There will be a 50% discount on each subsequent trade on them.
The report also stated that the platform would suspend the accounts if they were found to be laundering or involved in illegal bulk registrations. The exchange will also not be tolerant of self-dealing and market manipulation. In such cases, Binance reserves all right to call off or amend activities and rules of this free promotion.
The promotion was launched to lure more users from Southeast Asia to capture the market. Currently, Binance leads the way as the cheapest exchange platform, even beating Coinbase.