Binance ends free Bitcoin trading (except with TUSD)

Binance reactivated the costs on most of its Bitcoin trading pairs. However, its customers can still trade bitcoins against the stablecoin TUSD without being charged.

The number 1 crypto exchange has stopped its promotion set up last summer on the occasion of its 5th anniversary. Binance had since removed the trading fees on a dozen of Bitcoin pairs spot.

On Wednesday, the crypto exchange began to charge its customers on the trading of bitcoins, except for the pair BTC/TUSD. TrueUSD (TUSD) is a stablecoin backed by the U.S. dollar with a market capitalization of approximately $2 billion.

The removal of trading fees on Bitcoin had allowed the platform to further widen the gap with its rivals. Binance had seen its market share rise from 50 to over 70%., according to Kaiko, further dominating the cryptocurrency exchange segment.

No-fee trading is not sustainable in the long term, but in the short term, Binance has been able to gain massive market share. Without any fees for most BTC pairs, we could expect a short-term decline in its market share,” commented Clara Medalie, research director at Kaiko.

No-fee trading pairs accounted for about 60 percent of all trading volume on Binance, according to data from the Tricolor company.

⏰ #Bitcoin trading is still zero-fees on #Binance.

However, we’re making some changes – BTC/TUSD will be the only zero-fee spot trading pair starting from March 22 at 00:00 UTC.

– Binance (@binance) March 15, 2023

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