Many people were expressing their concerns online on January 29th about the Hong Kong-based digital currency exchange, Binance. Two things are uppermost in their minds: firstly, that Binance seems to be charging excessive trading fees; and secondly, that complaints about this, or even comments drawing attention to it on the company\'s sub-reddit forum, are being removed by the Binance Community Moderators.

Binance is purely for cryptocurrency trading, and their purported focus is to keep down fees. In December, Binance were charging a 0.1% exchange fee, in comparison with the 25% being charged by most other exchanges like GDAX and Poloniex. At that time they were also offering a 50% discount for customers using the company\'s native BNB token in payment for exchange fees, though at present rates, BNB itself costs US$12.45.

One Reddit user claims that Binance is charging 0.01 ETH for withdrawals, which is equivalent to almost $12. Furthemore, if you have no ETH or BTC, Binance will take their 0.1% fee from whatever coin you\'re trading, often as a fraction from a whole (for example) Litecoin (currently worth $177.61). The exchange does not, however, trade in fractional coins, so the 0.99% Litecoin you\'re left with can\'t be used for trading. Catch 22?