The centralized cryptocurrency exchange Binance.US has lowered its trading fees to near zero as competition among crypto exchanges heats up. Now, makers pay no fees and takers pay just 0.02% on all trading pairs, replacing the old, tiered pricing system.
This new pricing is for everyone, no matter how much they trade or how big their account is, making it one of the boldest moves in the market.
Binance.US says this could cut trading costs by up to 98% compared to rivals. Other exchanges like Coinbase and Kraken still charge more, especially for smaller traders, which might prompt them to change their fees as well.
This move comes as competition in the U.S. crypto market intensifies, with companies like Charles Schwab preparing to offer more services. As more players enter the market, pricing is becoming a keyway to attract and keep users.
Even with these significant fee cuts, Binance.US is still under regulatory scrutiny due to past compliance issues with its global partner. The company says its new fee system is supported by stronger infrastructure and robust internal controls, including a complete SOC 2 Type II audit.
Traders will probably appreciate the lower costs for buying and selling. For the industry, this shows that competition for market share is heating up, and fee cuts are likely to become a major trend.
Source: X.com
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