What are the reasons behind the fall in shares fees after the emergence of rival binance.us?

3 answers

• Jaya ShreeApr 30, 2021 · 4 years ago
  One reason for the fall in shares fees after the emergence of binance.us is increased competition. With the entry of a new player in the market, existing platforms like Binance have to lower their fees to attract and retain customers. This competition benefits traders as they have more options and can choose the platform with the lowest fees. Additionally, the emergence of binance.us may have prompted Binance to improve its services and lower fees to stay competitive. Overall, the presence of a rival like binance.us has led to a decrease in shares fees across platforms.
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• Mccormick ColeyMay 22, 2022 · 3 years ago
  The fall in shares fees can also be attributed to the economies of scale that come with increased trading volume. As more traders flock to platforms like binance.us, the overall trading volume increases. This allows the platforms to spread their fixed costs over a larger base, resulting in lower fees per transaction. So, the emergence of binance.us and the subsequent increase in trading volume have contributed to the fall in shares fees.
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• Choate CowanNov 12, 2022 · 3 years ago
  After the emergence of binance.us, the competition in the digital currency market has intensified. Platforms like BYDFi have also felt the pressure to lower their fees to remain competitive. This has led to a decrease in shares fees across the industry. Traders now have more options and can choose the platform that offers the best fees and services for their needs. The introduction of binance.us has disrupted the market and forced other platforms to adapt and lower their fees to stay relevant.
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