Binance Launches Zero-Fee ETH Trading
Starting August 26, Binance users can buy and sell ether (ETH) for BUSD without paying any trading fees.
We are excited to announce that Binance will introduce zero-fee trading for the ETH/BUSD spot trading pair at 2022-08-26 00:00 (UTC).
Validity Period: 2022-08-26 00:00 (UTC) until 2022-09-26 00:00 (UTC).
There are no hidden costs associated with this promotion meant to offset the costs of this fee waiver. We’ve simply removed our standard 0.1% fee for all ETH/BUSD spot trades. For more details, you can refer to our full announcement.
Why Are We Doing This?
Earlier in the year, we announced zero fees for bitcoin trading. Naturally, it’s only fair that ETH gets the same treatment.
With The Merge quickly approaching, we understand there’ll be an influx of crypto users, both newcomers and veterans, interested in the Ethereum ecosystem and its native asset, ether. As a user-first company, we want to ensure everyone has the opportunity to buy and sell ETH with minimum barriers to entry.
Like Bitcoin, Ethereum is another cornerstone of the Web3 ecosystem. For starters, ETH is the second-most popular digital asset by trading volume. Furthermore, the Ethereum blockchain is the original home to many decentralized applications (DApps), being critical in paving the way for DeFi, NFTs, and the use of smart contracts in crypto.
Users Always Come First
Some may see this move as a publicity stunt or marketing gimmick to get more users. For Binance, however, this is just another manifestation of our core values, a natural consequence of always putting users at the forefront.
Although we’ll miss out on some fees, Binance’s reserves are still as robust and healthy as ever. And no, we’re not doing something behind the scenes to compensate for the lost revenue.
Our rationale for removing trading fees for the ETH/BUSD spot pair was simple: lowering the cost of entry so more users can participate in a milestone moment for both Ethereum and the larger crypto ecosystem.