Binance is one of the most popular cryptocurrency exchanges in the world. It offers a wide variety of cryptocurrencies that can be traded against each other, providing users with access to a vast array of trading pairs.
What does Binance charge per trade?
Binance operates with a maker-taker fee model. This means that when you place an order that is immediately fulfilled, you are considered a taker since you are taking liquidity from the order book. On the other hand, if your order remains unfilled and sits on the order book waiting for someone to take it, you are considered a maker since you are providing liquidity to the market.
For spot trading, Binance charges a maximum fee of 0.1% per trade for both makers and takers. However, if you hold Binance’s native cryptocurrency, Binance Coin (BNB), and elect to pay your trading fees with it, you receive a discount of up to 25%. This reduction brings the maximum fee down to 0.075% per trade.
For futures trading, Binance charges slightly higher fees than for spot trading. The maximum fee for takers is 0.04%, while the maximum fee for makers is 0.02%. If you use BNB to pay your trading fees, you can receive a discount of up to 10%, lowering the maximum fee for takers to 0.036% and the maximum fee for makers to 0.018%.
It’s important to note that these fees are only the maximum amounts that Binance charges. The actual fees you pay could be lower depending on your trading volume or other factors. Additionally, Binance occasionally runs promotions that offer even lower trading fees.
Binance uses a tiered fee structure that is based on a user’s trading volume over a 30-day period. The more a user trades, the lower their fees will be. Here are the current fee tiers for Binance:
Maker/Taker Fees: 0.1% / 0.1%
30-day Trading Volume (BTC): Less than 50 BTC
Maker/Taker Fees: 0.09% / 0.10%
30-day Trading Volume (BTC): Between 50 – 100 BTC
Maker/Taker Fees: 0.08% / 0.10%
30-day Trading Volume (BTC): Between 100 – 500 BTC
Maker/Taker Fees: 0.07% / 0.09%
30-day Trading Volume (BTC): Between 500 – 1,000 BTC
Maker/Taker Fees: 0.06% / 0.08%
30-day Trading Volume (BTC): Between 1,000 – 2,500 BTC
Maker/Taker Fees: 0.05% / 0.07%
30-day Trading Volume (BTC): Between 2,500 – 5,000 BTC
Maker/Taker Fees: 0.04% / 0.06%
30-day Trading Volume (BTC): Between 5,000 – 10,000 BTC
Maker/Taker Fees: 0.03% / 0.05%
30-day Trading Volume (BTC): Between 10,000 – 20,000 BTC
Maker/Taker Fees: 0.02% / 0.04%
30-day Trading Volume (BTC): More than 20,000 BTC
It’s important to note that Binance also offers discounts on trading fees for users who hold Binance Coin (BNB), the native cryptocurrency of the Binance exchange. Users who pay their trading fees with BNB receive a 25% discount on their fees, bringing their trading fees down to as low as 0.075% for makers and 0.075% for takers.
In addition to trading fees, Binance also charges withdrawal fees when users withdraw their cryptocurrencies from the platform. These fees vary depending on the cryptocurrency being withdrawn and are subject to change based on market conditions.
Overall, Binance’s fee structure is competitive with other major cryptocurrency exchanges, making it an attractive option for users looking to buy, sell, and trade digital assets. As with any investment or trading activity, it’s important to carefully consider the costs and potential risks associated with using an exchange like Binance before making any transactions.
