{"id":8268,"date":"2022-07-06T15:15:25","date_gmt":"2022-07-06T15:15:25","guid":{"rendered":"http:\/\/ci02a586226008277c"},"modified":"2022-07-06T15:15:25","modified_gmt":"2022-07-06T15:15:25","slug":"binance-removes-bitcoin-trading-fees","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/binance-removes-bitcoin-trading-fees","title":{"rendered":"Binance Removes Bitcoin Trading Fees In Fifth Anniversary"},"content":{"rendered":"
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Binance will remove bitcoin trading fees in its global platform in celebration for its fifth anniversary.<\/p>\n

The move by the world\u2019s biggest cryptocurrency exchange comes on the heels of a similar strategy enacted by its U.S. subsidiary, Binance.US. Late last month, the American firm squashed fees for spot bitcoin trading<\/a> as it sought to increase its presence in the country and fire up competition. U.S. rival Coinbase\u2019s stock took a hit<\/a> after the feature was announced.<\/p>\n

Binance\u2019s move covers more ground than its U.S. counterpart. The global exchange said in a press release<\/a> on Wednesday that starting on July 8, 2022 users will be able to trade spot BTC with no fees in 13 pairs, among fiat currencies and stablecoins, including the euro and the British pound as well as the two most popular stablecoins in the market: Tether\u2019s USDT and Circle\u2019s USDC. Traders can get the fee cut benefit with U.S. dollars only at Binance.US.<\/p>\n

\u201cIn line with our user-first philosophy, Binance has always strived to provide the most competitive fees in the industry,\u201d Binance founder and CEO, Changpeng Zhao, said in a statement. \u201cAt its core, Binance is an inclusive platform with accessibility in mind. Eliminating the trading fees on selected BTC spot trading pairs is another move towards that direction.\u201d<\/p>\n

Other fiat currencies that will also fall under the new fee-free rule include the Brazilian real, the Australian dollar, the Russian ruble and the Turkish lira. The feature will be live \u201cuntil further notice,\u201d Binance said.<\/p>\n

Despite providing a convenient Bitcoin on-ramp, centralized exchanges can become a security hole<\/a> if leveraged as custody providers by users. Those interested in reducing risk<\/a> can mitigate exposure to third parties by securing their own bitcoin<\/a> \u2013 which, despite the learning curve, can prove advantageous over the long run.<\/p>\n","protected":false},"excerpt":{"rendered":"

The world\u2019s largest cryptocurrency exchange will squash spot bitcoin trading fees starting July 8 as it celebrates its fifth year of operation.<\/p>\n","protected":false},"author":2572,"featured_media":8269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[826,76,505,93,468],"class_list":["post-8268","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-binance","tag-bitcoin","tag-fees","tag-news","tag-trading"],"author_data":{"id":2572,"name":"Namcios","nicename":"namcios","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/pfp-96x96.png"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/wide.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/8268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2572"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=8268"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/8268\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/8269"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=8268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=8268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=8268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}