{"id":4375,"date":"2022-06-23T16:13:07","date_gmt":"2022-06-23T09:13:07","guid":{"rendered":"https:\/\/wikibinance.com\/?p=4201"},"modified":"2022-08-23T09:47:04","modified_gmt":"2022-08-23T02:47:04","slug":"binance-us-put-pressure-on-opponents-when-free-to-trade","status":"publish","type":"post","link":"https:\/\/wikibinance.com\/en\/news\/binance-us-put-pressure-on-opponents-when-free-to-trade.html","title":{"rendered":"Binance.US put pressure on opponents when free to trade"},"content":{"rendered":"

Binance.US CEO Brain Shroder said that when transaction fees are at zero, it will give users a positive mentality, and he revealed more about his plans to further expand the list of codes that will be free to trade in the future.<\/p>\n

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Binance.US put pressure on opponents by free of charge<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n
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Following in the footsteps of Robinhood, who pioneered cryptocurrency trading without commissions, Binance.US also eliminated trading fees for Bitcoin (BTC) spot market trading knives. Doing so would make Binance.US the first exchange in the U.S. not to apply instant transaction costs to Bitcoin and not require trading volume. Mr. Brain Shorder said that this is considered a revolutionary opportunity to access fees in the industry to increase access to cryptocurrencies and have better support for the market and customers at the present time. News of competition for trading fees on the exchange spread, which will put direct pressure on competitors to cause them to do the same.On Wednesday, Coinbase’s shares fell 9.71 percent to $51.91 a share. Robinhood (HOOD) hit an all-time low that saw its share price gradually stabilize again. Coinbase’s transaction fees are currently charged at 0-5%, Kraken has fees charged at 0-0.26%, and FTX. The US has fees ranging from 0% to 0.2%. The transaction fee is usually calculated depending on the currency pair, the trading volume executed in 30 days, and that order is the order of the buyer or seller. On June 22, Shorder announced to Bloomberg that Binance.US would not earn a spread from its free trades but would instead generate binance revenue from other sources.<\/p>\n

“Because we’re not involved in the transaction, we don’t enjoy that difference.” Shorder confirmed.<\/p><\/blockquote>\n

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3\/ We hope our pricing model sees broader industry adoption over time, because that would have a positive impact on the ecosystem and market participants overall. We are happy to lead the race to zero-fees everywhere.
See you on @BinanceUS<\/a><\/p>\n

— Brian Shroder (@BrianShroder) June 22, 2022<\/a><\/p><\/blockquote>\n