Withdrawing and depositing the two top cryptocurrencies by market cap will become significantly faster for users of the Binance cryptocurrency exchange. The necessary confirmations for BTC, ETH and ERC20 deposits and withdrawals have been lowered, according to an official announcement.

For BTC deposits, users will have to wait for 1 confirmation, while withdrawals will require 2 confirmations to complete. Meanwhile, depositing ETH and ERC20 tokens will take 12 confirmations for both deposits and withdrawals.

When talking about blockchain transactions, “confirmations” refer to the number of blocks a transaction has been included into. With each subsequent confirmation, the chances of the transaction being successfully reversed decrease. For exchange deposits, a lower confirmation requirement translates to the user being able to start trading faster after initiating their deposit transaction.

Binance has also introduced another perk, which will benefit holders of the exchange’s BNB. In the original Binance whitepaper, the company said it will lower the fee discounts granted to BNB holders by half each year. The discount had already been lowered once from 50% to 25%, but Binance now says it will keep the discount at 25% in effect for at least one more year. The exchange explains that it is keeping the discount at 25% as a gesture of gratitude to its users ahead of the platform’s second anniversary on July 14.

Meanwhile, Binance is also making an entrance into the cryptocurrency derivatives market, and is working on launching crypto futures contracts with up to 20x leverage.