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Nothing is free, Zero fees in Binance are also temporary

By Yugocean | Crypto Champion | 30 Aug 2022


    

     While talking about 0 fee BTC and ETH trades, Binance CEO CZ has admitted that nothing comes for free.

     For trading bitcoin and ethereum on its platform, Binance hasn't imposed any fees for a while. This has prompted traders to call for other cryptocurrencies to be fee-free as well, but Binance is unable to comply because the exchange's revenue derives from the trade fees.

  It is important for consumers to realise that Binance has solely attempted to grow its business by eliminating trading fees for bitcoin and ether. Binance does not intend to make everything free; rather, it is making up for the fees assessed on other trades.

     Additionally, CZ has hinted that the zero fee trade option is only temporary and is intended to reduce the significant risk of a downturn in the market.

 The truth is everything has a price, either it is direct, or indirect. In Binance free trade too, you will be parting away from your BTC/ ETH if you use that free trade.

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Yugocean
Yugocean

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Crypto Champion
Crypto Champion

Cryptocurrency-related contents that explains the status, need, or redundancy of new and old cryptocurrencies.

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