Binance wants to attract new bitcoin traders

Binance wants to attract new bitcoin traders


The major cryptocurrency company has announced the removal, starting Friday, of trading fees on thirteen combinations between bitcoin and stablecoins or fiat currencies.

The huge binance of cryptocurrency, with 120 million users, continues to be discussed with this time a marketing operation.

In its five-year anniversary, the company announced the removal, starting Friday, of trading fees of 13 pairs of bitcoin and coin currencies and fiat currencies. In fact, this means that users will be able to exchange their bitcoins for stablecoins or fiat currencies at no cost.

“New transaction fees will be put into effect, allowing Binance users around the world to enjoy the feeling of being free beyond the two-week celebration,” Binance said in a statement.

For foreigners, it would therefore be a question of being vigilant in the event of a change in the trade fee policy associated with this type of transaction with Binance. The company claims to have offered “the most competitive fees” in the industry since its launch.

“At heart, Binance is an inclusive and accessible platform. Removing business fees from certain BTC trading pairs is another step in that direction,” said Binance boss Changpeng Zhao (“CZ”).

Binance against FTX

Despite Binance’s claims, its competitor FTX platform could offer lower trading fees.

“Binance is an agent who has built up a reputation for its small fees. The minimum fee (whether you buy or sell crypto) is 0.1% of the total transaction amount. This is the maximum amount the agency takes. , rate the Lemon Squeezer website who recently compared Binance and FTX fees.

The website also believes that the FTX platform could be “even more” competitive than Binance for the fees charged.

“Fees will be a maximum of 0.070% when you trade the property through its platform. As with its competitor, it will be possible to reduce these fees by having a certain amount of business for 30 days or by owning FTT tokens, of the agency itself. Cryptocurrency and its platform “, adds the media.

A few days ago, the US Binance branch of Binance also announced the removal of trade fees on certain products.

These various ads from Binance go against a wave of ads from platforms that have adjusted their pricing conditions to adapt to the bear market. For example, Crypto.com has announced that it will charge 1% on credit card deposits from its European users, while Bitsamp will charge a monthly fee of 10 euros for non-functional accounts from the beginning of August.

End of certain business activities in France

Remember, the business environment remains different for consumers from one country to another. From August 2, Binance will no longer allow its French customers to conduct certain business transactions.

“When Binance reviews its products and services regularly to comply with local regulations, we will be making changes to the following products for consumers living in France: future, options, available tokens, binance revenue (double investment),” Binance explained. in an email to its users.