Binance Celebrates One Year Since Launch by Introducing New Discount Program
In a new announcement, Binance has officially completed on year since its launch in 2017. To celebrate, the exchange is offering a new loyalty program for customers on its platform and coincidentally lines up with their discount rate reduction highlighted in the original white paper.
A New System
Launched in 2017, the digital exchange giant provided one of a kind savings for users utilizing their own BNB coins as a trading fee payment method. In the white paper, the native coin will grant discounts on trading fees for the first four years of its operation. In 2017, Binance’s discount on saving was at a whopping 50 percent discount. In August, the discount will be reduced by another half and will be available at 25 percent until the same time in 2019.
As the discounts continue to be reduced, Binance is also revealing a new leveled program of transaction fees. In August, depending on how many BNB coins a user possesses, the appropriate fees will apply, including their activity and trade volume a month prior. An announcement was made on the firm's support page online and explained the company’s way of paying back its users for their consistent support by launching the new TTFDP, the fee system.
Binance has seen its reputation and usage skyrocket after the incredibly cost-efficient trading fees and bonus offers it continues to provide. According to reports, Binance is the constant leading exchange in terms of daily trading volume.
Changpeng Zhao, the exchange's founder and CEO, has seen a massive success in just one year of Binance’s launch. The firm has climbed from an initial coin offering the world’s largest and leading digital exchange. Reports also state more than one billion USD in gains within just this year.
As of its activities in Malta, a hub for crypto and blockchain startups and development, Binance is currently attempting to launch the first fully decentralized bank in the world. Binance may also be relocating to Malta after opening several accounts. Binance Uganda has also launched, enabling the exchange to provide purchase and sales of cryptocurrencies with fiat currency. Through their activity in Malta, Binance is constantly at the front of every major move in the cryptosphere.