The US arm of Binance, the world’s largest cryptocurrency exchange by trading volume, made a new announcement. With this announcement, the 2 altcoin projects listed on the Binance exchange experienced new and quite big developments. The announcement is extremely important for Binance.US users because the exchange is removing the gas fee for the use of 2 altcoins with the new announcement. Here are the details…
Binance removes gas fees for these 2 altcoin projects
Binance, the world’s largest cryptocurrency exchange, has taken new steps in the US arm. Accordingly, Binance.US is now including two new altcoins in its “zero gas fee” policy. Users of the exchange in the USA can now trade with Bitcoin and Ethereum without paying gas fees. Binance.US said on Tuesday that its zero gas fee policy goes beyond Bitcoin. He then added that the same support is coming to Ethereum. The news is quite significant for crypto investors in the US. Because they will now be able to trade BTC and ETH without additional costs such as gas fees.
Meanwhile, Binance.US is only integrating Ethereum’s zero gas fee feature into some spot trading pairs. These trading pairs include ETH/USD, ETH/USDT, ETH/USDC and ETH/BUSD. This means that users will only benefit from this feature with USD and USD-indexed stablecoins listed on Binance. The exchange added that it will offer additional transaction fee discounts to customers who pay their gas fees with BNB tokens. BNB is the utility token of the Binance exchange, as we have reported as Kriptokoin.com.
Binance.US continues to grow its user base
Binance.US, the US arm of the largest crypto exchange by volume, took a series of steps in June to attract more users. With these steps, Bitcoin became the first US crypto exchange to eliminate gas fees. He said that after doing so, a zero gas fee policy would come to altcoin projects. The exchange took its first step on this path today and offered the same support to Ethereum. This feature creates a win-win situation for both users and the stock market. Binance.US CEO Brian Shroder said:
“By eliminating fees, first in BTC and now ETH, we are raising awareness of the high fees consumers pay on other platforms. Thus, we are helping to restore trust in the larger ecosystem.”
JPMorgan said last month that centralized exchanges will continue to dominate digital asset trading volumes. This announcement came amid the FTX crash and skeptical crypto market sentiment. Binance.US also launched in two new US regions this week. It also acquired Money Transmitter Licenses (MTL) in Louisiana, bringing the total number of secure MLTs in the US to 43.
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