Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: Fariwala on February 24, 2021, 07:07:10 AM
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Binance Fees Explained Binance’s fee structure might look a bit complex to beginners at first. But it is actually very easy to understand how Binance fees work and calculate Binance fees. Binance has a simple trading fee structure with fees starting from 0.1% for spot markets. There are also various other markets, products and types of trading activities you can engage in on Binance such as futures markets, leveraged tokens and margin trading. Each comes with a different fee structure. So, if you do more than just trade on spot markets on Binance, you should know about these fees too. In this guide, I’ll give you an overview of Binance fees and show you how to calculate and reduce Binance fees. Binance spot fees The table below shows the trading fee that you will be charged when you trade on spot markets depending on your trading volume in the last 30 days: 30d Trade Volume (BTC) &/or BNB Balance Maker Taker < 50 BTC or ≥ 0 BNB 0.10% 0.10% ≥ 50 BTC & ≥ 50 BNB 0.09% 0.10% ≥ 500 BTC & ≥ 200 BNB 0.08% 0.10% Well, what do these rates exactly mean? How can you calculate the fee you will pay when you make a trade? Even though understanding and calculating Binance fees are not a big deal for most traders, it might be a bit confusing for especially beginners. To calculate the fee you’ll pay, you should first know your trading volume in the last 30 days, which you can check out on this page if you have a Binance account. For example, my trading volume in the spot markets in the last 30 days is below 50 BTC as you can see in the image below, so I will be charged a 0.10% trading fee for both maker and taker orders. Notice that you also need at least 50 BNB in your wallet besides adequate trading volume to level up and enjoy lower trading fees.
More info: https://dappgrid.com/binance-fees-explained-fee-calculation/#:~:text=When%20you%20make%20a%20trade%20with%20200%20USDT%2C%200.2%20USDT,is%200.10%25%20in%20this%20case.