Binance.US Launches Tiered Trading Fee Discount Program

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Thu, 10/31/2019 - 17:32
Alex Dovbnya
You have to trade at least $500,000 per month to end up in Binance's VIP club
Cover image via U.Today

Binance.US, the American division of the Malta-based exchange, has announced the details of its tiered trading fee discount program

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As reported by U.Today, the recently launched exchange offered its customers commission-free trading until the end of October. This was supposed to be a major selling point for Binance for winning over the US market.   

This marketing trick did work. Binance.US had a very smooth start, recently surpassing $10 mln in daily trading volume. Binance CEO Changpeng Zhao claimed that it took the parent exchange much longer to achieve the same milestone.          

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After the initial courting stage, Binance.US will be charging a general 0.1 percent fee for both maker and taker trades starting from Nov. 1. The exchange's users will be able to get a 25 percent discount if they choose to pay in Binance Coin (BNB)

In order to increase its trading volumes, Binance.US introduced eight VIP tiers. Those want to save more on their fees can get into this exclusive club by least $500,000 on a monthly basis. Your discount will be directly correlated to the size of your monthly trading volume.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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