The most popular crypto-exchange Binance, on the occasion of celebrating its 5 years, has decided to remove trading fees for 13 Bitcoin pairs with stablecoins and fiat currencies as a gift to its community.
Binance turns 5 and removes Bitcoin trading fees
The popular Binance crypto-exchange is celebrating its fifth birthday by giving its users the ability to trade Bitcoin (BTC) for zero fees using certain stablecoins and fiat currencies.
— Binance (@binance) July 6, 2022
“Bitcoin trading fees are too high tbh. Like this tweet if you agree”.
Starting tomorrow, 8 July, until further notice, the crypto-exchange will offer free trading fees to its users for the following 13 pairs:
BTC/USDT, BTC/BUSD, BTC/TUSD, BTC/USDC, BTC/USDP, BTC/RUB, BTC/EUR, BTC/TRY, BTC/AUD, BTC/GDP, BTC/BRL, BTC/BIDR, BTC/UAH.
In this regard, Binance’s blog reads:
“Giving back to our Binancian community is extremely important to us. And what better way to do that than putting a little BTC back in your pocket? As these new rates will be in effect until further notice, we’re extending the five-year good cheer beyond our two weeks of anniversary celebrations. We couldn’t have done it without you, so here’s a little gift on us”.
Binance and the #BinanceTurns5 on social media to win prizes
In honor of the platform’s fifth birthday, Binance also introduced #BinanceTurns5 on social media: a series of giveaways with a total prize pool of $10,000 in BNB!
It consists of 3 activities plus the bonus activity requested from the community to be done through their accounts on Twitter, Facebook, Instagram and TikTok, such as creating a Binance song, or Binance cake or designing the birthday hat of Binance’s CEO Changpeng Zhao or CZ.
Read the full T&Cs for all activities here ⤵️https://t.co/vZ6GkHFbsL
— Binance (@binance) June 28, 2022
“Draw a #CZBdayHat to win a 1-1 call with @cz_binance & $100 in BNB! Save this image & start drawing”.
Binance’s strategy aims to engage the platform’s users in so many ways, keeping them united and loyal despite the tough “crypto winter” they are facing. This is something that other crypto-exchanges are not considering at all.
Bitstamp’s inactivity fee
While Binance engages and disrupts with its gimmicks such as zeroing out trading fees in BTC during a period of prolonged bear market such as this, other crypto-exchanges such as Bitstamp, on the other hand, have decided to introduce new fees, albeit dedicated to inactive users.
In fact, the Luxembourg-based crypto-exchange has introduced the “inactivity fee”: a new monthly fee of 10 euros for all users who have not been trading, depositing, withdrawing or staking on the platform for 12 months.
The new fee will be a reality as of 1 August 2022, and inactive users with a balance of less than 200 euros will find themselves with -10 euro per month.