One of the top cryptocurrency firms that is not just interested in making money through its trading fee charges but is also interested in offering humanitarian help through its platform is the Binance Exchange, Binance recently moved its headquarters to crypto friendly country Malta from china.
Binance Exchange is leading as the world’s largest cryptocurrency trading platform in terms of trading volume. However, through Binance foundation which is one of the seven cardinal points of Binance, The exchange has now decided to donate all revenues generated through listing fees to charity.
Some crypto projects has recently accused the platform of using their big listing charges in scaring away projects that has real product use from applying for listing, which the exchange had refuted.
This new policy of Binance Exchange is meant to promote transparency and trust in amount paid for listing fees and the procedure for listing, since cryptocurrency startups are expected to suggest a listing fee that they feel that is good, because different projects could raise different amounts in their initial coin offerings and hence it will not be fair to expect all to pay the same amount for listing as it requires a minimum listing fee previously.
All the amount will be channeled to charity. This new policy could mean that some crypto projects could be tempted to give large amounts for listing which will still be channeled to listing in other to influence application, but the exchange had said that its standard will not be compromised by this new policy.
As at the time of writing, Binance Coin(BNB) has a market capitalization above $1.24 billion and it is situated in the 14th position and trades at a price of $10.59. The BNB could be used as hodling token in the upcoming Binance decentralized exchange aside been used to receive discount in trading fees in Binance Exchange.
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