Now, this is a very risky step as you have to increase your investment in the field. Enable this feature.īy this, you can save almost 25% of the trading fees charged! Increase Your VIP level On the right side of the dashboard, you will see an option saying use BNB for trading fees. So once you have logged in to Binance go to your dashboard. What is BNB?īNB is the native cryptocurrency of Binance that you need to use to reduce your fees. So when you sign up for a Binance account, ensure to go and buy some BNB. Ways To Save Trading Fee On Binance Enable BNB So here are some ways you can at least try to reduce the trading fees you pay on Binance. So although this trading fee is less compared to the lofty charges like 1% or something asked by other platforms, still if calculated in a cumulative way it proves that much of our profit earnings is washed away by these fees. In this case, the trading fee is 0.1% for both makers and buyers.Īs you go down the list all to VIP 9 (the last one) here the trading fee is 0.02% for buyers and 0.04% for takers. This means this person has less than 50 BNB and their last 30 days’ trade volume is less than 50BTC. But as your trading volume per month increases along with your BNB balance, the trading fee is reduced accordingly.īy default, one is VIP 0. So what is this?īy default all traders on Binance a VIPs. Understanding the fee structure in Binance requires you to familiarize yourself with its schedule.įirst Binance has this curious process called the VIP project. Of course, it varies with a few factors that we will look at now. Presently Binance charges 0.1% as a trading fee on all transactions. Talking about Binance trading fees, it is presently one of the lowest trading fees of cryptocurrency. Fir dealing in cryptocurrency from their platforms all platforms charge you trading fees which after a point you realize are eating away at a chunk in your profits.įor example one of the highest trading fees is charged by Coinbase and Gemini and the lower charges are found in, yes You guessed it correct Binance and a few others. A similar thing happens in the crypto platforms as well. In most cases these trading fees are so hefty they tend to eat away at your profits. This is a commission that needs to be paid to the broker (who helped you get details of the investment) and also the financial advisor (who helped you navigate your way through all the stages of investment). And there are very few cards against which the banks do not charge fees.Īnother way of looking at trading fees would be seeing them as the premium required to be paid for investment services. When you use your bank cards to make online payments, is there something called bank charges? Yes, there is. You will always see that for every transaction of crypto you are being charged a trading fee. So suppose you have an account in any cryptocurrency currency trading platform. One of the biggest advantages of using Binance is that the trading fees of Binance are lower compared to other cryptocurrency currency platforms. The platform offers saving options, a Binance Visa card, Crypto Loans, the Binance liquid swap, and the Binance smart pool for miners. It is a crypto-crypto trade platform that allows transactions with Bitcoins, Ethereum, and many others. It means the cryptos used here are pretty authentic as well. There are a few terms and conditions that the cryptocurrency has to adhere to and only then can they be used. It can be operated from our mobile apps also.Ī unique thing about Binance is that it does not allow all cryptocurrencies to be operated on it. Traders can make accounts on Binance and start their buys and sales. Recently it has entered the Indian Cryptocurrency market as well. It was first started in Hong Kong in 2017 and now its market is growing rapidly all over the world. Binance is one of the popular trading platforms for cryptocurrency.
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