• Binance, the world’s largest crypto exchange by trading volume, is moving its zero-fee BTC trading pairs from Binance USD (BUSD) to TrueUSD (TUSD) on March 22.
• The company removed fees for 13 BUSD spot trading pairs in July 2022 and this move excludes its pair with other assets such as BNB and Ethereum.
• Additionally, Binance would halt deposit and withdrawal services via bank transfers and card payments for UK customers from May 22.
Binance Moves Zero Fee Bitcoin Trading to TUSD
Binance, the world’s largest crypto exchange by trading volume, announced today that it is moving its zero-fee BTC trading pairs from Binance USD (BUSD) to TrueUSD (TUSD) on March 22. This move excludes its pair with other assets such as BNB and Ethereum.
Zero Fee Trading Program
In July 2022, in honor of its fifth anniversary, Binance removed fees for 13 BUSD spot trading pairs in order to provide the market with competitive fees. Crypto investors used to trade fiat currencies such as Euro, Australian Dollar, and other currencies against BTC using Tether (USDC), Circle’s USD Coin (USDC), among others. With this move of BUSD to TUSD, there will be “no maker or taker fee” for BTC/TUSD spot trading pairs.
Impact On Market & Services
The news has had a positive impact on the market with native token BNB price surging about 7.7% in a week following CZ’s announcement on Twitter. Furthermore, UK customers will not be able to use deposit or withdrawal services via bank transfers or card payments starting May 22nd.
This decision showcases how serious the company is when it comes to giving traders competitive rates without compromising quality service or security features of their platform. It is expected that this move would further increase liquidity across different asset classes traded on their platform while providing low trade costs for investors around the world.
Sarala is a journalism graduate passionate about writing who loves dancing and travelling while exploring blockchain technology