Binance.us Is Beating Coinbase in the Race to Zero Fees
Investors seeking to take advantage of last year's bull market in Bitcoin (CRYPTO: BTC) and other cryptocurrencies flocked to cryptocurrency exchange pioneer Coinbase Global (NASDAQ: COIN) following its April 2021 IPO. As Bitcoin prices have fallen sharply in 2022, however, Coinbase's share price has followed suit.
The bull case for Coinbase has centered on its role in helping millions of customers get exposure to digital assets. Due in part to its strong reputation, investors using Coinbase have been willing to pay relatively high fees for trading. However, one threat to Coinbase has always been the possibility that a rival exchange would offer the same trading services with more attractive commissions. Now, just as the stock brokerage industry saw in its own race to zero fees, Coinbase faces a new challenge from a company that's known around the world and carries a lot of weight in the crypto community.
Binance has a strong reputation in the digital assets industry. its platform leads the way in terms of global trading volume. The company has a separate affiliate for U.S. crypto clients, Binance.us, and it announced that Binance.us would eliminate trading fees for some of its trades.
Source Fool.com
