Fee Structure on Binance | Binance (2024)

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Fee Structure on Binance | Binance (2024)

FAQs

Fee Structure on Binance | Binance? ›

Binance uses a tiered fee structure, where higher trading volumes result in lower fees. The fee structure ranges from 0.1% for regular trading fees, but BNB holders can enjoy additional fee discounts. By using BNB to pay trading fees, users can potentially reduce their overall trading costs on the Binance platform.

How much fee is charged in Binance? ›

Binance charges a 0.1% fee for trading on the platform, therefore your pricing will be determined by the size of your deal. The charge is proportional to the size of the transaction.

How do I get cheaper fees on Binance? ›

Level up your Binance VIP level:

Binance offers a VIP program that any user can use to lower down their trading fees. This feature is best suited for those who are heavy traders, as you also need to hold a significant portion of the BNB token. You can check the Binance VIP schedule here.

Why are Binance network fees so high? ›

- Binance uses dynamic fees, which means that the fee amount can fluctuate based on the current network conditions and the amount of traffic on the Bitcoin network. - Binance also charges a higher fee to encourage users to keep their funds on the exchange, rather than withdrawing them to external wallets.

Are Binance fees good? ›

Binance fees for cryptocurrency trading

Users of the platform benefit from the lowest fees in the industry. In particular, deposits are free and the minimum amount is €1. However, the costs of other fees vary depending on the type of transaction.

Is it cheaper to convert or sell on Binance? ›

There are no Binance Convert fees, which makes it an attractive option for users looking to minimize costs associated with cryptocurrency trading; Binance Convert supports over 350 cryptocurrencies and allows more than 45,000 conversion possibilities.

Does Binance US charge fees? ›

Binance.US deducts a 25% to 35% service fee from earned staking rewards, which is reflected in the estimated rewards rate for each staking asset. Our standard service fee is 25% for ETH; 30% for ADA, ATOM, DOT, SOL, and XTZ; and, up to 35% for other assets.

How to avoid fees on Binance? ›

To reduce trading fees on Binance:
  1. Hold BNB in your account to receive a discount on trading fees.
  2. Increase your trading volume to move to a higher VIP tier, which offers lower fees.
  3. Participate in promotions and fee discount programs offered by Binance.
Jan 7, 2024

How to buy on Binance without fees? ›

Binance offers a feature called "Convert" that allows you to swap USDT for other cryptocurrencies without paying fees. To do this, navigate to the "Convert" page on the Binance website and select USDT as the "from" currency and the desired cryptocurrency as the "to" currency.

Is Binance fees cheaper than Coinbase? ›

Binance.US charges zero fees on Tier 0 pairs and up to 0.3% maker and 0.45% taker fees on Tier 1 pairs, whereas Coinbase Advanced Trader can have fees as high as 0.4% maker and 0.6% taker fees on amounts up to $10,000.

What is the withdrawal fee for Binance? ›

For Binance, the fees vary depending on the cryptocurrency being withdrawn and the user's membership level. Generally, the fees range from 0.0005 BTC to 0.005 BTC, with a minimum withdrawal amount of 0.001 BTC. For KuCoin, the fees range from 0.002 BTC to 0.001 BTC, with a minimum withdrawal amount of 0.001 BTC.

Are Binance fees lower than crypto com? ›

Both Binance and Crypto.com offer competitive fee structures. Binance's fee model starts at 0.1000% for non-VIP traders, while Crypto.com begins with a 0.4000% fee. Both platforms also offer discounts for using their native tokens, BNB and CRO, respectively.

Why is Binance rate so high? ›

BNB is Binance's native alternative coin (altcoin), and has a maximum supply of 200 million, with a circulating supply that is considerably lower at 153 million. This reduced supply is due to buy-backs of BNB implemented by Binance, which have contributed to the coin's strong price growth.

Is Binance US shutting down? ›

Binance agreed to a complete exit from the U.S. as part of the settlement, although an official said that BAM Trading was not affected by the agreement.

What are the disadvantages of Binance? ›

Some of the main disadvantages of Binance include its complex interface, which may be overwhelming for beginners, and its history of regulatory issues in various jurisdictions. Additionally, some features may be limited in certain countries, such as Australia, due to compliance with local regulations.

Should I keep my money in Binance? ›

Binance has good liquidity for trading, industry-leading low fees, many crypto-centric products, and a wide variety of crypto assets, products, and trading features. Is Binance Exchange Safe? Binance is often considered one of the safest exchanges in the world if you consider the level of security.

How much does Binance charge for withdrawal? ›

For Binance, the fees vary depending on the cryptocurrency being withdrawn and the user's membership level. Generally, the fees range from 0.0005 BTC to 0.005 BTC, with a minimum withdrawal amount of 0.001 BTC. For KuCoin, the fees range from 0.002 BTC to 0.001 BTC, with a minimum withdrawal amount of 0.001 BTC.

Does Binance pay take fees? ›

Binance Pay fees vary depending on how you use it. Sending crypto to other Binance Pay users is usually free, but there's a small fee (1 USDT) if you send a large amount (over 75,000 USDT). Sending crypto to an external wallet incurs a fixed fee ranging from $0.1 to $2 (based on the network).

Is Binance free to trade? ›

Binance FZE will introduce zero-fee trading for the BNB/FDUSD, DOGE/FDUSD, ETH/FDUSD, LINK/FDUSD, SOL/FDUSD and XRP/FDUSD spot trading pairs at 2023-12-08 00:00 (UTC). All users will enjoy zero maker and taker fees for the above spot and margin trading pairs.

What are all the fees on Binance card? ›

The Binance Visa Card charges no issuance or monthly fees and only charges up to a 2% transaction fee for transactions and ATM withdrawals7. Note that ATM operators may charge an additional fee. The card supports 14 cryptocurrencies, including Bitcoin and Ethereum.

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