Comment on Why Binance's no-fee promise goes above and beyond Robinhood's, according to the crypto exchange's US CEO

Why Binance's no-fee promise goes above and beyond Robinhood's, according to the crypto exchange's US CEO

Vaughn Ridley/Sportsfile for Collision via Getty ImagesBinance.US is seeking to become the destination for crypto traders as it lowers its trading fees.CEO Brian Shroder told Insider that there zero-fee model is a lot different from competitors like Robinhood."What most people don't realize is there is effectively a hidden fee in the spread itself," Shroder said.Binance.US is on a mission to take crypto trading market share away from popular names like Coinbase and Robinhood, and it's taking a zero-fee approach to do it.That's according to Binance.US CEO Brian Shroder, who told Insider's global editor-in-chief Nick Carson last week that there's a big difference between the zero bitcoin trading fees it charges and other firms that advertise zero fees, like Robinhood.Binance.US launched zero-fee bitcoin trading on its platform last week in a bid to attract more users to its platform.

 

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