Binance wants to attract new bitcoin traders

The cryptocurrency giant has announced the elimination, from Friday, of trading fees on thirteen combinations between bitcoin and stablecoins or fiat currencies.

The cryptocurrency giant Binance, with 120 million users, continues to be talked about with this time a marketing operation.

On its fifth anniversary, the company announced the removal, starting Friday, of fees for trading 13 bitcoin pairs with stablecoins and fiat currencies. Concretely, this means that users will be able to exchange their bitcoins for stablecoins or fiat currencies at no cost.

“The new transaction fees will be in effect until further notice, allowing Binance users worldwide to enjoy the feeling of free beyond the two-week anniversary celebrations,” Binance said in a statement. .

For newcomers, it will therefore be a question of being vigilant in the event of a change in the trading fee policy linked to this type of transaction by Binance. The company claims to have offered “the most competitive fees” in the sector since its launch.

“At heart, Binance is an inclusive platform with accessibility in mind. Eliminating trading fees on certain BTC spot trading pairs is another step in that direction,” said Binance boss Changpeng Zhao (“CZ “).

Binance vs. FTX

Despite Binance’s claims, its competitor the FTX platform can offer even lower trading fees.

“Binance is a broker that has built part of its reputation on low fees. Low fees (whether you are buying or selling crypto) are 0.1% of the amount of each transaction. This is the maximum taken It is also possible to lower these fees in a simple way, notes the Presse-citron site which recently compared the fees of Binance and FTX.

The site also believes that the FTX platform can be “even more” competitive than Binance on the fees charged.

“The fees will be a maximum of 0.070% when you trade assets through its platform. Just like with its competitor, it will be possible to lower these fees by having a certain trading volume over 30 days or by owning tokens FTT, the broker’s own cryptocurrency and its platform”, adds the media.

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

These various announcements from Binance go against the tide of announcements from platforms that have revised their pricing conditions to deal with the bear market. For example, Crypto.com has announced that it will charge 1% for credit card deposits from its European users, while Bitsamp will impose a monthly fee of 10 euros on inactive accounts from the beginning of August.

End of certain trading operations in France

As a reminder, the trading situation remains different for users from one country to another. From August 2, Binance will no longer allow its French customers to carry out certain trading operations.

“As Binance constantly re-evaluates its product and service offerings to comply with local regulations, we will be making changes to the following products for users residing in France: futures, options, leveraged tokens, binance earn ( double investment),” Binance explained in an email to its users.

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