KEY POINTS

  • Binance launched zero BTC trading fees in July
  • In August, the platform announced the zero-fee trading for the ETH/BUSD spot trading pair
  • BNB was trading down 0.78% at $276.09

Binance, the world's largest cryptocurrency exchange platform, announced its latest promo -- the zero fees for ETH/BUSD trading -- a few days before the highly anticipated Ethreum's Merge takes place.

"Ethereum's upcoming Merge, taking the network from Proof of Work to Proof of Stake, has raised the network's profile recently. So, no matter if you want to enter or exit an ETH/BUSD position, you'll be able to do so without incurring fees. How's that for good timing," Binance said in its announcement blog over the weekend.

The exchange also enumerated several reasons for launching the latest promo.

"Zero ETH fees extend our commitment to low fees," the blog post read. "The upcoming Ethereum Merge is the perfect opportunity to provide easier access to ETH," the exchange added, noting that "removing fees allows traders to benefit from improved liquidity."

Illustration shows a representation of cryptocurrency and Binance logo

Trading fees are basically processing fees crypto exchange platforms charge to maintain its platform, as well as Bitcoin and other crypto assets. Fees are usually based on the 30-day trading volume apart from the 0.1% spot trading fees and 0.5% fees when buying or selling crypto.

But some platforms like Binance offer promotions such as zero-fee trading on a particular crypto asset to encourage frequent trading and entice investors to use its platform. It is worth noting this is not the first time Binance has launched this kind of promotion.

Last month, the platform rolled out the zero-fee trading for the ETH/BUSD spot trading pair, which runs from Aug. 26 to Sept. 26. The promo claims: "All users will enjoy zero maker and taker fees for the ETH/BUSD spot trading pair."

Earlier in July, Binance also launched the zero BTC trading fees, which according to the platform is neither a promo nor a campaign, but a gesture to celebrate the exchange's fifth anniversary. Through this "all users will enjoy zero maker and taker fees for all 13 BTC spot trading pairs and The 13 BTC spot trading pairs will be excluded from BNB fee discounts, fee rebates, or any other form of fee adjustments or fee promotions."

As of 1.58 a.m,.ET on Monday, BNB, the native token of Binance, was trading down 0.78% at $276.09 with a 24-hour volume of $549,039,896, based on the latest data from CoinMarketCap.

Read more