{"id":472199,"date":"2022-07-09T09:07:11","date_gmt":"2022-07-09T06:07:11","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-users-support-0-fee-trading-despite-czs-wash-trading-concerns\/"},"modified":"2022-07-09T09:07:11","modified_gmt":"2022-07-09T06:07:11","slug":"binance-users-support-0-fee-trading-despite-czs-wash-trading-concerns","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-users-support-0-fee-trading-despite-czs-wash-trading-concerns\/","title":{"rendered":"# Binance users support 0-fee trading despite CZ&#8217;s wash trading concerns"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a30355285e13\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a30355285e13\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/binance-users-support-0-fee-trading-despite-czs-wash-trading-concerns\/#%E2%80%9D_Binance_users_support_0-fee_trading_despite_CZs_wash_trading_concerns_%E2%80%9C\" >&#8221; Binance users support 0-fee trading despite CZ&#8217;s wash trading concerns &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Binance_users_support_0-fee_trading_despite_CZs_wash_trading_concerns_%E2%80%9C\"><\/span>&#8221; Binance users support 0-fee trading despite CZ&#8217;s wash trading concerns &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Both traditional and crypto investors consider trading fees as one of the most significant liabilities when it comes to investing over exchanges. So no wonder when Changpeng \u201cCZ\u201d Zhao, the founder and CEO of Binance, asked investors about their interest in trading on the crypto exchange with no fees, the response was a resounding yes despite the inherent risks pointed out by the entrepreneur.<\/p>\n<p>Binance stands as the biggest crypto exchange, outdoing its nearest competition FTX by 10x in terms of the trading volume. Zhao, known for implementing features based on community feedback, reached out over <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> to gauge investor sentiment regarding the complete removal of trading fees.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">0 fee trading <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a> creates a few problems, wash trading, VIP tiers, etc. A thread <\/p>\n<p>Do you still want it?  1\/4.<\/p>\n<p>\u2014 CZ  Binance (@cz_binance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cz_binance\/status\/1545506631684866049?ref_src=twsrc%5Etfw\">July 8, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nWhile 0-fee trading may seem ideal for investors, CZ pointed out some of the issues it may sprout in the process \u2014 one of them being wash trading. Wash trading, wherein a user makes a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of buys and sells to manipulate market activity, can be used to go up the VIP tiers on Binance.\u00a0<\/p>\n<p>Moreover, CZ stated that bringing 0-fee trading to the masses will require Binance to implement numerous safeguards, which include detection tools for identifying illegitimate trades. Each VIP tier is tied to certain trading benefits including lower trading fees. As a result, professional poker player Brian Rast <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/tsarrast\/status\/1545548845764976641?s=20&amp;t=glG-adFGAI0sYbhxPqQLqw\">asked<\/a> \u201cSo if there are no fees, why do you need VIP tiers?\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/00ef1687-3441-4bf8-8e15-a76513ddb364.png\"><\/figure>\n<p>Over 30,600 investors voted on CZ\u2019s poll at the time of writing \u2014 with around 65.5% inclined to trade with no fee whatsoever. CZ is open to implementing the changes regardless of the challenges that a new system would bring:<\/p>\n<blockquote><p>\u201cLet&#8217;s see what the poll say. We listen to our users.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Binance gets VASP registration for its Spanish subsidiary from the Bank of Spain<\/em><\/strong><\/p>\n<p>Binance continues to spread its roots across the world as it steadily acquires registrations and operational licenses from regulators. <\/p>\n<p>Maintaining its expansion streak, Binance\u2019s Spanish subsidiary, Moon Tech Spain, got registered as a VASP by Spain\u2019s central bank on Thursday. CZ attributed the development to Binance\u2019s intent to protect users:<\/p>\n<blockquote><p>\u201cEffective regulation is essential for the widespread adoption of cryptocurrencies. We have invested significantly in compliance and introduced AMLD 5 and 6 compliant tools and policies to ensure that our platform remains the safest and most trustworthy in the industry.\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/binance-users-support-0-fee-trading-despite-cz-s-wash-trading-concerns\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Binance users support 0-fee trading despite CZ&#8217;s wash trading concerns &#8220; Both traditional and crypto investors consider trading fees as one of the most significant liabilities when it comes to investing over exchanges. So no wonder when Changpeng \u201cCZ\u201d Zhao, the founder and CEO of Binance, asked investors about their interest in trading on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":472200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZGIwZGIzMDMtNWYwYS00MWYzLWE4ZjYtMjM4ZjQ2OWU3ZTdiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,77672,74860,74355,117,72927,70934,71407],"class_list":["post-472199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-changpeng-zhao","tag-cryptocurrency-exchange","tag-adoption","tag-business","tag-fees","tag-regulation","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/472199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=472199"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/472199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/472200"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=472199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=472199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=472199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}