07 Dec 2022

Binance US eliminates Ethereum trading fees

This announcement follows the cryptocurrency exchange's removal of all trading fees for Bitcoin transactions months prior.

By: Flagship Team

According to a recent announcement from Binance US, Ether is now included in the company's “zero fee price model.”

Users can now freely trade the following four Ether spot market pairs: ETH/USD, ETH/USDT, ETH/USDC, and ETH/BUSD.

Additionally, the US exchange has stopped charging gas fees for Ethereum transactions made through its website's “Buy & Sell” feature.

In June, Binance US removed all fees for trading Bitcoin on the spot market for BTC/USD, BTC/USDT, BTC/USDC, and BTC/BUSD, following Robinhood's footsteps, which had invented no-commission crypto trading in 2018.

Show Tweet from <blockquote class="twitter-tweet"><p lang="en" dir="ltr">Just in time for the holidays, the best <a href="https://twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw">#crypto</a> platform for low fees just got even better.<a href="https://twitter.com/hashtag/BinanceUS?src=hash&ref_src=twsrc%5Etfw">#BinanceUS</a> is pleased to offer zero-fees when you buy <a href="https://twitter.com/hashtag/Ethereum?src=hash&ref_src=twsrc%5Etfw">#Ethereum</a> or trade ETH/USD, ETH/USDT, ETH/BUSD & ETH/USDC, for all users with no trading volume requirements.</p>— Binance.US 🇺🇸 (@BinanceUS) <a href="https://twitter.com/BinanceUS/status/1600496453151068160?ref_src=twsrc%5Etfw">December 7, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Although it runs independently in the US, Binance US uses the same name and logo as the main Binance cryptocurrency exchange.

Binance US, as its name suggests, primarily serves American cryptocurrency traders. Eliminating fees on both BTC and ETH, in the words of Brian Shroder, president and CEO of Binance US,

"cements the company's position as the low-fee leader in crypto." He continued, "It is critical that platforms operate with users' interests first now more than ever."

Show Tweet from <blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BinanceUS?src=hash&ref_src=twsrc%5Etfw">#BinanceUS</a> was the first in the world to offer FREE <a href="https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw">$BTC</a> trading, and we are now thrilled to expand FREE trading to <a href="https://twitter.com/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw">$ETH</a>!<br><br>FREE ETH trading is LIVE on all <a href="https://twitter.com/hashtag/BinanceUS?src=hash&ref_src=twsrc%5Etfw">#BinanceUS</a> platforms, so go check it out! <br><br>Learn more: <a href="https://t.co/DepoWc8vxv">https://t.co/DepoWc8vxv</a> <a href="https://t.co/3wSg1v7RWB">https://t.co/3wSg1v7RWB</a></p>— Brian Shroder (@BrianShroder) <a href="https://twitter.com/BrianShroder/status/1600501962583298050?ref_src=twsrc%5Etfw">December 7, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Exchanges are essential to the adoption of cryptocurrencies. Users are encouraged to conduct more transactions with digital assets by enabling zero-fee transfers.

Millions of potential users would avoid or restrict their use of the technology if sending money between locations was expensive. Spreads allow exchanges that don't charge fees to profit from fee-free transactions.

The difference between a trading pair's bid (sell) price and ask (buy) price is referred to as a spread in the industry.

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