Notably, Binance didn’t include the United States dollar in their zero-fee trading policy for Bitcoin.

“In line with our user-first philosophy, Binance has always strived to provide the most competitive fees in the industry,” said Binance CEO Changpeng Zhao in a statement. “At its core, Binance is an inclusive platform with accessibility in mind. Eliminating the trading fees on selected BTC spot trading pairs is another move towards that direction.”

Binance’s decision comes just weeks after Binance.US, its American affiliate, became the first major trader to announce this move. Binance.US adopted the zero-fee Bitcoin trading policy for four-spot market pairs, including the U.S. dollar.

Bitcoin entered the week trading just above $19K but managed to bounce back by the end of the day on Monday to climb above $20K again. Since then, Bitcoin has seen several ups and downs but and is currently trading at $20,278 per token.

The post Binance Announces Zero-Fee Bitcoin Trading appeared first on theprimarymarket.com.

The company’s announcement came on the same day that Bitcoin slumped below $25K for the first time since late 2020.

“Binance has temporarily paused #Bitcoin withdrawals on the $BTC network,” said. “Meanwhile, you can still withdraw BTC on other networks. This is due to a stuck on-chain transaction. Our team is currently working on a solution and will provide further updates soon.”

Binance’s CEO Changpeng Zhao initially tweeted that the issue should be fixed in “30 minutes” but later retracted the estimate and said, “it going to take a bit longer.” He also added that the funds are “SAFU,” meaning “secure asset fund for users.” SAFU is an emergency insurance fund that was established by Binance in July 2018 to protect users’ funds.

Bitcoin has had a rough start to the week, dipping from $30K on Friday to below $24K on Monday. The investors have been steering clear from riskier investments in recent months, causing a collapse in the crypto market.

The post Crypto Exchange Binance Pauses Bitcoin Withdrawals appeared first on theprimarymarket.com.

Notably, Binance didn’t include the United States dollar in their zero-fee trading policy for Bitcoin.

“In line with our user-first philosophy, Binance has always strived to provide the most competitive fees in the industry,” said Binance CEO Changpeng Zhao in a statement. “At its core, Binance is an inclusive platform with accessibility in mind. Eliminating the trading fees on selected BTC spot trading pairs is another move towards that direction.”

Binance’s decision comes just weeks after Binance.US, its American affiliate, became the first major trader to announce this move. Binance.US adopted the zero-fee Bitcoin trading policy for four-spot market pairs, including the U.S. dollar.

Bitcoin entered the week trading just above $19K but managed to bounce back by the end of the day on Monday to climb above $20K again. Since then, Bitcoin has seen several ups and downs but and is currently trading at $20,278 per token.

The post Binance Announces Zero-Fee Bitcoin Trading appeared first on theprimarymarket.com.

The company’s announcement came on the same day that Bitcoin slumped below $25K for the first time since late 2020.

“Binance has temporarily paused #Bitcoin withdrawals on the $BTC network,” said. “Meanwhile, you can still withdraw BTC on other networks. This is due to a stuck on-chain transaction. Our team is currently working on a solution and will provide further updates soon.”

Binance’s CEO Changpeng Zhao initially tweeted that the issue should be fixed in “30 minutes” but later retracted the estimate and said, “it going to take a bit longer.” He also added that the funds are “SAFU,” meaning “secure asset fund for users.” SAFU is an emergency insurance fund that was established by Binance in July 2018 to protect users’ funds.

Bitcoin has had a rough start to the week, dipping from $30K on Friday to below $24K on Monday. The investors have been steering clear from riskier investments in recent months, causing a collapse in the crypto market.

The post Crypto Exchange Binance Pauses Bitcoin Withdrawals appeared first on theprimarymarket.com.