Binance Wallet woos retail traders with fee-free crypto swaps

Binance Wallet is launching a zero exchange promotion, but only for users with sustained key addresses.

Cryptocurrency exchange Binance Launches a zero -month -old zero exchange promotion for users of its Binance portfolio (formerly known as Binance Web3 Wallet) in order to attract retail merchants.

In March the 17th announcementThe exchange said that the offer only applies to exchanges made via integrated exchange and bridge characteristics of Binance Wallet or a rapid purchase in Binance Alpha, a platform in Binance Wallet, with tokens that could be taken into account for lists on Binance in the future.

Binance stressed that transactions “carried out via third -party DAPPs are not eligible”. Retail merchants may still have to pay network gas fees, even if Binance renounces its own negotiation costs.

“During the promotion period, negotiation costs against all exchanges are deleted. However, users will always have to pay the network’s gas costs. »»

Binance

To qualify, users must exchange with a supported keyless address in Binance Wallet, which means that they must finish the backup process and cannot use imported wallets with private keys or manually input seed phrases.

Binance first announcement Her crypto portfolio in November 2023, saying in a blog post that the product “eliminates delicate seed phrases” and judging it better than an auto-custodian cryptographic portfolio with the support for multi-party calculation technology. However, shortly after launch, Russian users began to report loss of access to the wallet.

Binance later tackled The problem, declaring that access to the portfolio was limited for “regulatory reasons”. The restriction came after Binance’s decision to leave Russia in September 2023, when it announced its intention to sell its local business following a series of limitations, including restrictions on peers for Russian users.