The famous crypto trader Binance and its local US department management decided to get rid of transaction fees at all stages and for all clients.
It is going to be done in terms of Ethereum trading and ETH-related exchanging pairs. But, as for the company’s plans, the new measures will become part of the whole Binance trading system.
The recent improvement
The new system allows clients to openly trade all their Ethereum assets without paying any forms of commissions or other fees.
The reason for such actions is that Ethereum assets have eliminated the gas emission by more than a half. Now the users need far less resources to mine Ethereum and to trade it.
The new measures were first introduced this summer by Binance. In addition to that, Binance has stopped operation of all Bitcoin-related exchanging deals.
Despite operating freely within the US-based trading services, the crypto-trader’s uses in the US are now incapable of trading Bitcoin.
But the company states that such measures are not made forever – just for some time. The company needs it to restructure its services and make fee-free trading possible for all present assets.
The need for changes
It’s important for the service to work with the needs of their users in mind now – even more than it used to. This was stated by the company’s authorities in their recent media announcement.
By getting rid of the trading fees, the business will make its status on the market even stronger than it used to be, as it is the industry’s top provider of crypto-related transactions and, presently, has the lowest fees in the crypto world.
The new measures are going to further advertise Binance as the best trading service and help it regain the investors’ trust in the industry. In addition, the widespread use of crypto and more convenient ways to trade it are crucial for its global adoption.
Allowing fee-free deals pushes clients to trade more crypto and invest more of their money into it. Trading fees make the clients avoid using the technology altogether or use it less frequently – they usually don’t wish to invest in something they don’t fully understand.
But the elimination of trading fees might change the state completely.