Binance Exchange Set To Enable Zero-Fee Spot Trading For One Ethereum (ETH) Pair: Details

A few days after announcing support for the upcoming Ethereum Merge, Binance, the world’s largest crypto exchange by trading volume, is set to enable zero fees trading for one ETH pair on its spot market, starting from August 26, 2022.

During this campaign period, all users of the crypto exchange will be able to trade this Ethereum (ETH) pair without being charged transaction fees. This development comes after the exchange previously enabled zero-fee trading for limited Bitcoin (BTC) pairs.

Per a Tuesday update, the top and widely used crypto marketplace, Binance, will launch a one-month feeless spot trading program for the ETH/BUSD pair. “The ETH/BUSD spot trading pair will be excluded from BNB fee discounts, fee rebates, or any other form of fee adjustments or fee promotions,” the exchange wrote.

Going by the report, this offer will become effective starting from August 26, 2022, and will remain valid until September 26, 2022.

According to the announcement, all Binance customers will then enjoy zero maker and taker fees for the ETH/BUSD spot trading pair throughout the validity period.

Part of the announcement revealed;

“VIP users: Trading volume on the ETH/BUSD spot trading pair will be excluded from the 30-day volume calculation toward Trading Fee Level.

“Spot Liquidity Providers: Maker volume on the ETH/BUSD spot trading pair will be excluded from the maker volume calculation toward Spot Liquidity Provider Program.”

As certain players may try to take advantage of this zero-fee program, Binance stated clearly that trades from ‘illegally bulk registered accounts’ and those considered as wash trades will be disqualified from enjoying the offer.

More so, the exchange wrote that trades attempting to manipulate the market will not be considered eligible to enjoy the zero-fees benefit. Overall, the exchange said it reserves the right to disqualify fraudulent trades.

Earlier this month, the exchange disclosed that it is closely monitoring and will support the Ethereum Merge upgrade. The Merge is the biggest upgrade on the largest smart contract platform designed to transition Ethereum to proof-of-stake

The exchange added that in the case of new forked tokens, it will evaluate the support for distribution and withdrawal of the forked tokens.

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Ndianabasi Tom

Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering.