The American affiliate of global crypto exchange Binance, Binance.US, has cut bitcoin trading fees to zero for select pairs.
Binance is the first exchange in the US to do so.
The changes in fees are effective immediately.
All new and existing users of Binance.US will pay no fees for trading bitcoin in these four pairs — BTC/USD, BTC/USDT, BTC/USDC, and BTC/BUSD.
Binance currently charges trading fees in the form of the maker (traders that create orders) and taker (traders that fulfill someone else’s order) fees. The fees vary depending upon the volume traded.
With the new fee structure, “customers in the free tier will experience zero trading fees on the four bitcoin pairs, irrespective of trading volume.”
Zero fees mean a loss in revenue for Binance.US.
When asked if the zero-fee structure will also be extended for other cryptocurrencies, a Binance.US spokesperson said bitcoin will serve “as a test for the model, which could potentially be rolled out across other tokens and pairs down the line.”
