Binance Listing Fees | New Policy Gives Listing Fees to Charity

Binance listing fees

Binance, the top cryptocurrency trading platform by its daily trade volume, just made a big announcement regarding its Binance listing fees.

Binance Listing Fees

Changpeng Zhao, Binance’s Founder, said that he wrote down the Blockchain Charity Foundation four years ago, but wasn’t able to execute it at the time. With Binance’s catastrophic growth last year, it seems the founder believes now is the perfect time to launch the charity foundation.

In addition to his charity initiative, the founder posted:

Binance holds one of the biggest order books in the world and starting yesterday, it will now donate all listing fees to its Charity Foundation. Another addition to this is that all fees will now be completely transparent.

The Binance trading fee announcement reads:

“Starting immediately, and going forward, we will make all listing fees transparent and donate 100% of them to charity. Project teams will still propose the number they would like to provide for a ‘listing fee,’ or now more appropriately called a ‘donation.’ Binance will not dictate a number, nor is there a minimum required listing fee.”

Pushback from Investors

Before the new rule went into effect, the previous listing fees and agreements were not transparent, and the exchange has kept investors in the dark.

One crypto enthusiast pointed that out by saying:

Zhao responded back by saying:

Moving Forward

Unfortunately, the listing fee charity initiative didn’t start last year when new coins were being listed on Binance daily. Now, the movement within crypto is much slower, but I guess it’s the thought that counts.

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When asked by CCN if Zhao expects other cryptocurrency exchanges to follow suit, he said, “I certainly hope so. They copied us on many other things, this will be a good thing to copy. There is no competition in charity.”

In the new Blockchain Charity Foundation, donors will have the option to donate to different charities and can choose to be made public or anonymous. Binance will not be issuing a new coin just for the charity but is inviting developers to help them design and develop the new tracking platform.

Featured Image: Depositphotos/© AndrewTovstyzhenko

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