Binance has announced to waive the trading fee of 0.1% on the spot trading pair of ETH/BUSD by officially launching Zero-Fee ETH Trading. Users will not have to pay any fee while trading the pair. The trading fee waiver is applicable from August 26, 2022, 00:00 UTC, to September 26, 2022, 00:00 UTC.
While it can come out as a marketing gimmick or a promotional stunt, the waiver is aimed to make it easier for new and experienced users by lowering the entry barrier into the ETH ecosystem. The trading fee waiver for ETH takes inspiration from the trading fee waiver for BTC that was done earlier.
Binance expects many users to become active and leverage the benefit in their favor.
Binance is a crypto exchange platform that was founded in 2017 with headquarters in Malta. Its economics and other financials are run on BNB – the native token. Over 100 cryptocurrencies are listed on Binance to complement the availability of 100+ training pairs.
The platform’s ultimate goal is to bring global financial freedom to improve people’s lives significantly.
Mobile Trading is a key feature offered by Binance. It allows users to track their trading activities anywhere and at any time. They do not have to start and sign in to a desktop for a simple task. Users can also execute a trading function through the mobile application. Availability on iOS and Android makes it easier for users on all devices to get the application.
There is an option to start with a Basic Trading Account. It is recommended to traders who have either started their crypto journey for the first time or want to get familiar with the platform’s tools. More such features can be explored through Binance reviews which will also assist in signing up on the platform.
Zero-Fee ETH trading further strengthens the core values of Binance, which prioritize users above anything else. Lowering the entering barrier is one such move by Binance. Getting more users in the ecosystem of ETH is crucial as ETH is second only to BTC in forming the ground for the Web3 ecosystem.
Also, many decentralized applications in NFT, DeFi, and smart contracts are built on the network to seek the presence of more users in ensuring a successful adoption followed by a move forward towards the futuristic world.
Binance shared the news with the community by publishing an official blog post highlighting that it was not looking to compensate for the loss of revenue during this one month. The platform is backed by its robust and healthy reserves, giving it the power to waive the trading fees.
To emphasize the objective of Binance, it goes on to say that the cost has been lowered for users so that they can participate in a milestone moment for Ethereum & the larger crypto ecosystem.