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