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Binance to Donate All Listing Fees to Charity

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While Blondie may be having a Manic Monday somewhere in the world, today, the largest crypto exchange, Binance, made an announcement which should make others take note. The announcement which was made by the team at Binance is that they will be donating all the fees acquired through listing cryptocurrencies to charity.

The news was broken unexpectedly by the CEO of Binance on Monday 8th October 2018 and is to take effect “immediately”. The news also marks the changing of the terminology used for listing and the exchange is now considering all fees received for listing as donations.

As was already the case, there is no set limit, or minimum requirement, on how much a company would have to donate to be listed on the Binance exchange, nor will a significantly large donation sway the opinion of the team regarding listing.

They have also announced that coins which are currently having their application reviewed are welcome to change their donation amount in light of this new information.

What is a listing fee?

If you are new to the cryptocurrency/blockchain industries you would be excused for not knowing what a listing fee is, why would you need to know if you’re not part of a core/dev team? Well, is you are wondering I will explain, the answer is a simple one.

Listing fees are exactly what they sound like – fees which are paid to cryptocurrency exchanges in order for them to list a desired project. Basically put, if you own a cryptocurrency and want it to be listed on an exchange you will, generally, need to pay a considerable fee to the desired exchange.

Happiness.

Read the full announcement from Binance

Please remember that this article is not to be taken as any form of investment advice and that you should do your own research before investing your hard earned cash into anything. If you would like to assess the metrics which determined the rating for this project you can do so here. We would also like to remind you that Something Decent is not in anyway responsible for the distribution of airdrops, bounties or giveaways unless it is stated that we are personally conducting them

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