Yugocean
Valued Contributor
On the occasion of the fifth anniversary of largest crypto exchange platform Binance, its CEO CZ announced on 8th July 2022 that Bitcoin trading is now zero fee.
By the way, Binance has been introducing multiple contests from time to time, and now it is giving contests daily, and rewarding the winners. But making bitcoin trade free of fees is a big relief for people in spot trading.
According to CZ, this is to give relief to the people in difficult times of the market. But it can also be assumed that CZ did this to prevent bitcoin traders from leaving binance exchange.
Since many centralized exchange platforms are on the verge of closure due to bankruptcy, and they are not giving investors control over their assets, many investors are withdrawing their cryptocurrencies from various platforms.
Thus this is cross control of situation, CZ has encouraged bitcoin traders to stay on his platform and in return, he provided relief.
By the way, Binance has been introducing multiple contests from time to time, and now it is giving contests daily, and rewarding the winners. But making bitcoin trade free of fees is a big relief for people in spot trading.
According to CZ, this is to give relief to the people in difficult times of the market. But it can also be assumed that CZ did this to prevent bitcoin traders from leaving binance exchange.
Since many centralized exchange platforms are on the verge of closure due to bankruptcy, and they are not giving investors control over their assets, many investors are withdrawing their cryptocurrencies from various platforms.
Thus this is cross control of situation, CZ has encouraged bitcoin traders to stay on his platform and in return, he provided relief.