Binance reduces 25% of the withdrawal fees for ERC20

The ERC20 token withdrawal fee has been cut-down by almost 25% on Binance at 02:00:00 UTC. It has been good news to all 7,000,000 Binance users, in addition to the fact that it has taken the 10th position in the crypto-world in a short duration of 5 months.

The news was announced by the CEO of Binance, Changpeng Zhao on Twitter which says,

“ERC20 token withdrawal fees has been reduced by 25% on #binance. This fee will be dynamically adjusted overtime.”

As announced earlier this year, Binance will be the fastest exchange platform matching up to 1.4 million orders per second beyond any platform until now. They were in the limelight recently, having faced a technical glitch with none of the functionalities operating. They promised 70% discount on trading fee once the systems were upgraded and in the same week, the CEO CZ was listed as one of the “richest people” in the cryptocurrency industry.

Many users rejoiced to the news and have spread the word across on all social media platforms.

David Schummer, a Bitcoin investor and Binance user says,

“Wow! I can’t believe this is actually happening. More money to me. Yayyyy!”

KingCoco, a crypto traders says,

“They have been stealing people’s money for a while now. Binance withdrawal sucks!!”

Arjun K, an Ethereum and Ripple trader says,

“I honestly believe it should become lesser. The withdrawal prices are crazy but the platform itself is very convenient and user-friendly”

Withdrawal fees on EOS (EOS) should now be at 0.525 EOS on a minimum withdrawal of 1.4 EOS. Similarly, all tokens would be effectively at a better rate than what was previously before.

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