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Binance.US Launches Tiered Trading Fee Discount Program

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  • Alex Dovbnya
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    You have to trade at least $500,000 per month to end up in Binance's VIP club

Binance.US Launches Tiered Trading Fee Discount Program
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 an 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.

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Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies

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    Holding Bitcoin as a collateral is the next big use case for the top cryptocurrency

Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies
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According to cryptocurrency influencer Chris Burniske, both Bitcoin and Ethereum already represent formidable collateral economies.

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Moving beyond a medium of exchange

In his earlier tweet, Burniske also predicts that holding Bitcoin as a collateral could eclipse its medium of exchange (MoE) use case.  

He even goes as far as claiming that Bitcoin could morph into an off-chain collateral for the world. 

Burniske states that Ethereum has already created a burgeoning collateral economy around it. Apart from extending its utility beyond a pure MoE, this could also drastically decrease the coin's volatility because of all DeFi use cases.   

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Ethereum (ETH) Price Undergoes Bullish Consolidation, Says Prominent Crypto Trader

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The next big thing in crypto

As reported by U.Today, Genesis Capital, a subsidiary of Digital Currency Group (DCG) that rules the roost in the cryptocurrency lending sector, had a record-breaking third quarter with a whopping $870 mln in new originations. 

In Q3, Bitcoin remained the best collateral for crypto with fiat money and altcoins breathing down its neck. The share of USD loans increased by 25 percent quarter-over-quarter.

However, a group of Wall Street traders made a dire warning about crypto lending, claiming that the breakneck speed of its growth could result in another crypto bubble. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an 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.

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