In celebration of its world dominance; Binance – the world’s largest cryptocurrency exchange has announced that it would be removing spot trading fees for 13 Bitcoin pairs to mark its five years anniversary.
In regard to the fast adoption of cryptocurrency, centralized exchanges like Binance creates a platform where buyers and sellers of crypto can meet and transact safely.
Despite the call for decentralization, centralized exchanges tend to grow in utilization and capitalization as they offer multiple features like spot trading, derivatives, P2P, copy trading, NFT, etc.
Starting from July 8, 2022; users will enjoy zero-fee trading on thirteen stablecoin and fiat BTC combinations on the platform.
According to Binance; removing trading fees in BTC pairs would be a better way of giving back to the Binancian community, as this will be putting a little BTC back in their pockets.
The pairs involved were: BTC/AUD, BTC/BIDR, BTC/BRL, BTC/ BUSD, BTC/EUR, BTC/GBP, BTC/RUB, BRC/TRY, BTC/TUSD, BTC/UAH, BTC/USDC, DTC/USDP, and finally BTC/USDT.
Five years and still moving…
Binance was established in July 2017 by Changpeng Zhao (best referred to as CZ); a developer and entrepreneur. Though the company was originally established in China, it was moved to a new headquarter due to the strict Chinese regulation against cryptocurrency
Among the hundreds of crypto exchange platforms that exist; Binance has proven to be the master in the league. From the launching of its own token – BNB, which is amongst the top 10 cryptocurrencies, to having a widespread and dominating the market in over 180 countries.
The Seychelles based crypto exchange is known for being the largest private cryptocurrency exchange platform with a market value amounting to $92.5 billion.