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Binance.US removes fees on Bitcoin transactions

June 22, 2022
Reading Time: 3 mins read
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What is Bitcoin?

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.

El exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Binance.US eliminated commercial spot rates in Bitcoin. Users of the exchange can exchange bitcoins for US dollars, tether and other stable currencies without extra payments.

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  • Binance.US eliminated fees on Bitcoin transactions
  • Free of charge works for BTC exchange with USDT, USD Coin and Binance USD
  • No-fee service is only valid in the United States.

The cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange Binance.US the U.S. subsidiary of Binance said it is eliminating tariffs in the trade of 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. for all your customers.

The new decision of Binance.US effectively allows customers to exchange bitcoins cash for U.S. dollars,Tether, USD Coin a coin can refer to a cryptocurrency that can operate independently or to a single unit of such cryptocurrency. y Binance USD or vice versa, without paying commercial rates in cash.

Binance.US published it in press releases and social networks, so many American media also broke the news.

The best #crypto platform a place to buy, sell and store cryptocurrency in low rates just got better.

#BinanceUS is the first major platform to offer free #bitcoin trading for BTC/USD, BTC/USDT, BTC/USDC and BTC/BUSD spot a contract or transaction buying or selling a cryptocurrency for immediate settlement, or payment and delivery, of the cryptocurrency on the market. pairs to all users with no trading volume how much cryptocurrency has been traded over a set period, such as the past 24 hours. requirements.

The best #crypto platform for low fees just got better. #BinanceUS is the first major platform to offer zero-fee #bitcoin trades for BTC/USD, BTC/USDT, BTC/USDC & BTC/BUSD spot pairs, for all users without trading volume requirements.

Read: https://t.co/UYvNNvael2 pic.twitter.com/YDV0x3dfcJ

– Binance.US ???????? (@BinanceUS) June 22, 2022

No charge

Binance.US which claimed to offer some of the lowest trading fees in the industry and charged a 0.1% spot trading fee on less than $50,000 of trading volume, says it will now make no spot transaction charge.

“We see this as an opportunity to revolutionize the way fees are approached in our industry, increase accessibility to cryptocurrencies and help our market an area or arena, online or offline, in which commercial dealings are conducted. and customers in a time of need.” said the executive chairman of Binance.US, Brian Shroder, in a statement.

Attracting investors

As it says The Wall Street Journal, es el último ejemplo de cómo las organizaciones, tanto las casas de bolsa tradicionales como las emergentes digitales, ofrecen descuentos o eliminan tarifas para atraer inversores individuales. Para compensar las tarifas de transacción más bajas, algunas casas de bolsa han transferido el efectivo no invertido de los clientes de las cuentas de corretaje a productos bancarios. Otros han enrutado los pedidos de los clientes a empresas de comercio electrónico llamadas creadores de mercado en una práctica conocida como pago por flujo de pedidos.

Binance.US launched in September 2019, is one of the largest cryptocurrency exchanges by trading volume, according to data provider CoinGecko. In April 2022, the company raised more than $200 million in a seed round that valued it at US$4.5 billion. Earlier, in January this year, it said it would would open an office in the metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users. .

Also, this announcement comes as Bitcoin and the major cryptocurrencies are in a bear someone who believes that prices in a given market will decline over an extended period. Such a person might be referred to as “bearish.” market and many exchanges, including rivals of Binance.US, Coinbase is an American company that operates a cryptocurrency exchange platform. y Gemini, have reduced staff. So far it is not known whether Binance will also follow this path or will continue to maintain the same plant.

It is worth noting that investors affected by the ecosystem Earth threatened to sue Binance.US for misleading information to sell the currency currency is a medium of exchange that defines value. before its collapse.

Sources: Twitter, Binance.us , Coindesk, Decrypt ,The Wall Street Journal, archivo

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