Binance to Donate 100% of Listing Fees to Charity
One company which has grown really popular in the Crypto scene for its sizeable donations to several projects around the world is Binance. The Crypto exchange has made an announcement that it will be donating 100% of its listing fees to charity. All processes involved will be a transparent one.
High Cost of Listing on Binance
When it comes to listing Cryptocurrency coins and tokens on Binance, the cost of doing this is known to be on the high side. Although Binance CEO, Changpeng Zhao has defended the stance of the company in relation to this in the past. He made it clear that it was never about making money off listings but ensuring quality over quantity.
This move by Binance to donate to charity 100% of the money collected for coin listing on the world-class exchange is expected to change this narrative.
Currently, there is no fixed number for the fees collected for listing on the exchange platform. Any project looking to list their coin or token on the platform are asked to propose the number they would like to provide for a listing fee. Since no minimum or maximum fees exist the amount paid for listing varies quite a lot. Binance has also noted that a higher pricing is never a guarantee of getting listed on its platform. Also, projects currently in a review are allowed to upgrade or downgrade their fees.
Binance has Donated Before
This is not the first time Binance will be using blockchain technology for social good. This is not the company’s first try at donating for charity purposes. Recently Binance partnered with the United Nation and donated about $1million to the organization.
A comment from the company about this partnership states that:
“Working with UNDP, our aim is to eradicate poverty and empower and bring prosperity to millions who are marginalized and living in poverty”
