• Binance has announced its move to zero-fee bitcoin trading from BUSD to TUSD on March 2022.
• Normal trading costs would apply to its spot and margin trading pairs, including Tether’s USDT, and many other fiat currencies.
• Last month the New York department of financial services ordered Paxos to stop producing the token with the Binance brand.
Binance Announces Free Bitcoin Trading
Binance, a popular cryptocurrency exchange, has announced that they are shifting to zero-fee bitcoin trading from BUSD to TUSD on March 2022. This means users will not have any maker or taker costs while exclusively trading bitcoin on the BTC/TUSD spot trading pair. Other spot and margin trading pairs like BNB/BUSD, BTC/BUSD, and ETH/BUSD are not included in this program however normal trading costs will still apply for these pairs as well as Tether’s USDT and other fiat currencies such as AUD, GBP, EUR etc .
Collapse of BUSD
Following recent events in February 2021 where investors withdrew more than $6 billion from BUSD due to U.S market regulators tightening their control over the digital asset market there was a lull in activity in terms of investment into the platform. The Securities and Exchange Commission (SEC) has also filed a lawsuit against cryptocurrency company Paxos for their unregistered security offering which resulted in New York Department of Financial Services ordering Paxos to stop production of tokens with the Binance brand.
Shift Towards TUSD
With all these changes taking place it is evident that investors are now being encouraged by exchanges such as Binance towards using stablecoins like Tether’s USDT over traditional investments such as US Dollars. In fact since February 2021 when Binance introduced zero free trading for its spot pairs there has been a boom in spot volumes which accounted for 62% of all trades within this sector alone.
Benefits Of Zero-Fee Trading
Zero fee bitcoin trading can provide numerous benefits for users who choose to use this service including having no maker or taker costs while exclusively trading bitcoin on the BTC/TUSD spot trade pair thus allowing them access liquidity quickly at minimal cost whilst maintaining privacy throughout transactions due to an absence of third parties involved in transfers between two parties participating directly in trade deals with each other without any middlemen involved whatsoever making this process much faster than normal regular transactions made via banks or other transfer entities which can take days or even weeks at times depending upon location and amount being transferred through them respectively.
In conclusion it is clear that exchanges like Binance are encouraging investors towards using stablecoins like US Dollar backed tokens (USDT) instead of traditional investments such as US Dollars due to their ability to provide quick access liquidity at minimal cost whilst maintaining privacy during transactions given there isn’t any third party involvement required whatsoever consequently making transfers much quicker than regular bank transfers which can take days or even weeks sometimes depending upon location & amount being transferred through them respectively therefore providing users with numerous advantages if they opt for zero fee bitcoin trading from one currency type into another when dealing with cryptocurrencies instead of opting for traditional investments especially during times when regulation is tightened around certain digital assets making it harder & riskier for people invest directly into those assets themselves rather then relying upon secure intermediary platforms like those offered by exchanges like those mentioned here today