Global crypto exchange Binance has officially announced that it is introducing zero-fee trading for the ETH/BUSD spot trading pair. The exchange service will be launching the promotion on Friday, August 26 and it will run until Monday, September 26.
“We are excited to announce that Binance will introduce zero-fee trading for the ETH/BUSD spot trading pair. Starting August 26th, Binance users can buy and sell ether (ETH) for BUSD without paying any trading fees. “
Binance noted that users should take note of the following during the zero-fee trading period:
- All users will enjoy zero maker and taker fees for the ETH/BUSD spot trading pair.
- The ETH/BUSD spot trading pair will be excluded from BNB fee discounts, fee rebates, or any other form of fee adjustments or fee promotions.
- VIP users: Trading volume on the ETH/BUSD spot trading pair will be excluded from the 30-day volume calculation toward the Trading Fee Level.
- Spot Liquidity Providers: Maker volume on the ETH/BUSD spot trading pair will be excluded from the maker volume calculation toward Spot Liquidity Provider Program.
According to Binance, they have introduced this because they earlier introduced zero trading fees for bitcoin trading so it’s only fair that they do the same for Ethereum.
“Earlier in the year, we announced zero fees for bitcoin trading. Naturally, it’s only fair that ETH gets the same treatment,” Binance stated in its announcement.
The anticipated start date for the Ethereum Merge which is around mid-September is included in this time frame. Mid-September is the anticipated release date for the merge. This may result in a large number of trades between ETH and BUSD in the final two weeks of the trading ban.
Binance said, ”With The Merge quickly approaching, we understand there’ll be an influx of crypto users, both newcomers, and veterans, interested in the Ethereum ecosystem and its native asset, ether. As a user-first company, we want to ensure everyone has the opportunity to buy and sell ETH with minimum barriers to entry.
Binance added, “Like Bitcoin, Ethereum is another cornerstone of the Web3 ecosystem. For starters, ETH is the second-most popular digital asset by trading volume. Furthermore, the Ethereum blockchain is the original home to many decentralized applications (DApps), being critical in paving the way for DeFi, NFTs, and the use of smart contracts in crypto.”