Binance Offers Lower Fees to Poach Traders From Competing Exchanges
Binance, the world’s largest crypto exchange, is making a push to poach active crypto traders from competing platforms.
In a recent blog post, Binance announced the launch of its VIP Invitation Program for new users looking to trade its spot, margin and futures offerings. Participating investors will receive lower trading fees by providing screenshots of their trading volume at another exchange.
For bailing on their current exchange, Binance will reward traders with a VIP trading tier 1 level higher than their current trading volume justifies. This ultimately means active traders will be able to enjoy lower fees than they normally would on Binance’s various trading products.
The promotional period runs through January 14.
The VIP Invitation Program isn’t the only means by which Binance is attempting to bring on new investors. As we previously reported, the exchange has been pushing referral programs for its main platforms and Binance.US.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.