Trading on Binance, one of many largest and most popular cryptocurrency exchanges in the world, offers an enormous array of opportunities. However, should you’re not careful, trading fees can slowly eat into your profits over time. Whether you are an off-the-cuff investor or an active trader, learning how you can reduce Binance trading fees may also help you maximize your returns. Here are some practical suggestions and tricks to reduce these charges and keep more of your earnings.
1. Use BNB to Pay for Charges
One of many simplest and handiest ways to reduce your trading fees on Binance is through the use of Binance Coin (BNB) to pay them. Binance gives a 25% discount once you use BNB for spot trading fees. This option could be simply enabled in your account settings.
To do this:
Go to your Binance dashboard.
Click in your profile icon.
Enable the option: “Use BNB to pay fees.”
Make sure you always have a small quantity of BNB in your wallet to cover fees. It’s one of the best ways to save money without changing your trading behavior.
2. Increase Your VIP Level
Binance operates on a tiered VIP level system. The more you trade, the higher your level and the lower your trading fees. There are 9 VIP levels, every with its own requirements for 30-day trading quantity and BNB balance.
For instance:
VIP 0 (default) pays 0.1% for both maker and taker fees.
VIP 1 traders enjoy 0.09% maker and 0.1% taker fees.
Higher levels enjoy even better rates, including reductions on futures trading.
If you’re a frequent trader, monitor your trading volume and BNB balance to move up the VIP ladder and unlock lower fees.
3. Choose Maker Orders When Potential
Binance distinguishes between maker and taker orders. A maker order adds liquidity to the market (limit orders that aren’t immediately filled), while a taker order removes liquidity (market orders or limit orders that fill instantly).
Maker fees are generally lower than taker fees.
For those who’re not in a rush to enter or exit a trade, consider using limit orders to act as a market maker. This small change in strategy may end up in lower general trading costs.
4. Trade on Binance Futures for Lower Charges
When you’re an experienced trader and understand the risks, Binance Futures provides even lower trading fees than spot trading.
Futures fees start at:
Maker: 0.02%
Taker: 0.04%
By utilizing BNB or moving up the VIP levels, you may get additional discounts. Just keep in mind that futures trading involves leverage and higher risks.
5. Watch for Promotions and Price Discounts
Binance recurrently runs promotional campaigns, reminiscent of trading competitions, zero-payment trading for chosen pairs, or momentary charge reductions for new tokens or trading pairs.
Stay updated by:
Checking the Binance announcements page.
Subscribing to the Binance newsletter.
Following Binance on social media.
These temporary promotions can offer significant financial savings when you align your trades with them.
6. Keep away from Frequent Small Trades
Every trade incurs a charge, so making multiple small trades can quickly add up. Consider consolidating your trades when doable, or utilizing strategies that reduce the number of entries and exits. Planning your trades in advance can assist you avoid overtrading and paying unnecessary fees.
Reducing trading fees on Binance doesn’t require complicated strategies—just a couple of smart adjustments. Use BNB, purpose for maker orders, level up your VIP status, and keep an eye on promotions. Over time, these small savings can compound and make a big difference in your total trading performance.
Whether you’re just getting started or already deep into crypto trading, optimizing for lower fees is a smart move that keeps more profits in your pocket.
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