Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
No fees for Bitcoin: this is how Binance celebrates its 5th anniversary. A dozen Bitcoin trading pairs, for fiat fiat currency is “legal tender” backed by a central government, such as the Federal Reserve, and with its own banking system, such as fractional reserve banking. It can take the form of physical cash, or it can be represented electronically, such as with bank credit. and stablecoins, will include no fees.
- Binance announced zero fees for Bitcoin trading.
- No commissions for 13 trading pairs with BTC/ fiat or stablecoins.
- The dream of many, but a nightmare for exchanges.
Binance , el intercambio de criptomonedas más grande del mundo, está cumpliendo el sueño de muchos comerciantes al eliminar las tarifas para la negociación de Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. on your global platform.
In a communiqué on Wednesday, the company announced to its users the introduction of a new commission-free trading service for a total of 13 trading pairs with Bitcoin . From July 8th customers of Binance will already have to pay fees when they operate between Bitcoin and a wide variety of fiat currencies, as well as a few stablecoins .
The zero commission service will be available for pairs of Bitcoin (BTC) and Australian Dollar, Indonesian Rupiah, Brazilian Real, US Dollar, Euro, British Pound, Russian Ruble, Turkish Lira and Ukrainian Hryvnia. In addition, trading between BTC and the stable currencies USDC, USDT, TUSD and USDP will also be excluded from the fee.
The initiative comes as part of the celebration of the fifth anniversary of the popular exchange and will be available for an indefinite period of time. The CEO de Binance , Changpeng Zhao, commented on the movement in a press release :
In keeping with our philosophy of putting the user first, Binance has always strived to offer the most competitive rates in the industry. At its core, Binance is an inclusive platform with accessibility in mind. The elimination of trading fees on selected BTC spot a contract or transaction buying or selling a cryptocurrency for immediate settlement, or payment and delivery, of the cryptocurrency on the market. trading pairs is another move in that direction.
A threat to the other exchanges?
The announcement occurs shortly after Binance.US the company’s U.S. subsidiary, took a similar approach, albeit with a more limited offering. Last month, the platform a place to buy, sell and store cryptocurrency for U.S. customers said it was eliminating fees for trading in the U.S., but said it was not doing so. Bitcoin spot, between the pairs of BTC/ USDT, BTC/ USDC and BTC/ BUSD.
At that time, Binance.US became the first U.S. cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange to push zero commission fees. The parent company has now taken it one step further, becoming the first exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. The first major global hub to take on this approach.
Like notes Crypto Briefing, a ccurrently the exchange charges a commission of 0.1% on all transactions, although it offers a discount of 25% for the token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. native of Binance BNB. Other leading exchanges, such as Gemini y Coinbase is an American company that operates a cryptocurrency exchange platform. charge fees of between 0.5% and 1.49% per transaction, according to data from Cointracker.io .
The strategy is undoubtedly a game changer for other crypto trading platforms and could pose a challenge to the major competitors of Binance especially in the face of the challenges presented by the extension of the current bearish season.
In a very different approach, the exchange Coinbase que cotiza en la bolsa americana, anunció recientemente que fusionará ambas de sus plataformas, Coinbase y Coinbase Pro but will keep the same rates offered on its specialized platform. Some analysts, including Goldman Sachs have already been pessimistic about this move in terms of competitiveness.
- Binance’s Changpeng Zhao says “not every project is worth saving”
- FTX’s Sam Bankman-Fried warns more crypto firms are “secretly insolvent”
- Goldman Sachs Recommends Selling Coinbase Shares Amid Declining Prices
Article by Hannah Estefania Perez / DiarioBitcoin
Imagen de Depositphotos