Does Binance offer any discounts for using its own coin?
Yes, Binance does offer discounts for using its own coin.
Binance Coin (BNB) is the native token of the Binance exchange and can be used to pay for trading fees on the platform. By holding and using BNB, users can receive a discount on their trading fees. The discount is applied in tiers, with users receiving a 25% discount when they use BNB to pay for their trading fees.
This discount increases over time, with users receiving a 50% discount after one year and a 75% discount after two years. Additionally, Binance offers discounts on other services such as listing fees and withdrawal fees when users pay with BNB. The purpose of offering discounts for using BNB is to incentivize users to hold and use the token.
This helps increase demand for the token, which in turn increases its value. It also helps increase liquidity on the platform as more people are likely to trade if they receive a discount on their trading fees.
