Binance announces 0% trading fees on Binance Wallet until September

Binance is making trading cheaper for users by removing all trading fees on Binance Wallet for six months, with a zero-fee promotion that starts on March 17 and will continue until September 17.

Anyone using Binance Wallet’s Swap and Bridge features or the Quick Buy function in Binance Alpha can make fee-free trades, though network gas fees still apply, and transactions through third-party dApps are not eligible.

Only traders with a backed-up keyless address in Binance Wallet can join. Imported wallets won’t qualify, which means only users fully using Binance’s ecosystem will benefit. Binance confirmed, “Users must trade using a backed-up keyless address in Binance Wallet,” making it clear that external wallets are left out of the deal.

Binance Web3 Wallet and its role in CeFi-DeFi integration

Binance introduced its Web3 Wallet in November 2023, calling it a more user-friendly alternative to traditional self-custodial wallets, and promoted it as a solution that eliminates seed phrases using multi-party computation (MPC) tech to improve security.

But shortly after launch, Russian users reported losing access to their wallets, which prompted a clarification from Binance that access to the wallet was restricted for Russians due to “regulatory reasons.”.

Binance described its Web3 Wallet as a bridge between centralized finance (CeFi) and decentralized finance (DeFi), giving users the ability to switch between the two systems. In its announcement from November 2023, Binance claimed that: “Users can effortlessly toggle between CeFi and DeFi, ensuring they are never restricted by the boundaries of one or the other.”

Unlike most Web3 wallets, Binance claims its customer support is available 24/7, offering assistance that other decentralized wallets lack.

To ensure security for users, Binance says it carefully selects which decentralized applications (dApps) are available inside the Web3 Wallet. Binance explained, “This minimizes the risk of stumbling upon malicious or subpar dApps, ensuring that users can seamlessly harness the best of what Web3 has to offer.”

Binance Alpha now tradable on CEX, XUSD listing announced

Binance Alpha assets are now available for trading on Binance’s centralized exchange (CEX), which means that users can buy Binance Alpha-listed tokens directly using USDT and other stablecoins inside the exchange’s main trading platform. Binance updated its website to confirm this change, giving traders more access to Binance Alpha’s offerings.

Binance also announced a new listing for StraitsX USD (XUSD), set to go live on March 19, and the trading pair XUSD/USDT will be available, with no listing fee required to trade. Deposits for XUSD are already open, and withdrawals will begin on March 20. This listing is part of Binance’s expansion of stablecoin offerings, allowing more ways for users to trade within its ecosystem.

Binance co-founder He Yi confirmed that the company is actively working on improving Binance Wallet. He said, “We are constantly optimizing the Binance Wallet experience. Users are encouraged to share feedback as we continue to enhance its features.”

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