Binance is without doubt one of the most popular cryptocurrency exchanges globally, known for its wide range of coins, high liquidity, and competitive trading fees. However, should you’re an active trader or planning to turn into one, even small fees can eat into your profits over time. Thankfully, Binance offers a number of ways to reduce these costs. In this article, we’ll explore practical tips and tricks that can assist you minimize Binance trading fees and keep more of your earnings.
1. Use BNB to Pay for Charges
One of the best and best ways to reduce trading fees on Binance is to pay them utilizing BNB (Binance Coin), the platform’s native cryptocurrency. If you enable the “Use BNB to pay for fees” option in your account settings, Binance gives a 25% discount on spot trading charges and a 10% discount on futures trading fees.
To take advantage of this, make sure you always have a small quantity of BNB in your wallet. The system automatically deducts fees out of your BNB balance, helping you save significantly over time.
2. Improve Your VIP Level
Binance has a VIP program that rewards high-quantity traders with reduced trading fees. The higher your 30-day trading quantity (in BTC equal) and the more BNB you hold, the higher your VIP level.
There are 9 VIP levels, each offering progressively lower maker and taker fees. For example, a daily consumer (VIP zero) pays 0.1% on both sides of the trade, while VIP 1 customers may pay as little as 0.075% and even less.
When you’re a frequent trader, particularly if you’re managing massive positions or trading throughout a number of pairs, it’s worth tracking your quantity and aiming for higher VIP tiers.
3. Trade on Binance Futures for Lower Fees
Should you’re comfortable with leveraged trading and futures contracts, Binance Futures generally affords lower fees than spot trading. Maker and taker fees on Binance Futures start at 0.02% and 0.04%, respectively—significantly lower than standard spot market fees.
While futures trading involves more risk, it could be a cost-efficient way for experienced traders to avoid wasting on fees, particularly when mixed with BNB fee discounts or VIP benefits.
4. Use Limit Orders Instead of Market Orders
Every trade entails two parties: a maker, who adds liquidity to the market by inserting a limit order, and a taker, who removes liquidity by filling it with a market or limit order.
Binance expenses higher charges for takers than for makers. To reduce fees, consider inserting limit orders instead of market orders each time possible. This not only lowers your charges but additionally provides you better control over your entry and exit points.
5. Join Binance Referral or Affiliate Programs
For those who’re introducing friends or followers to Binance, you may sign up for their referral or affiliate program. You’ll earn a commission from their trading charges, and you may share part of that fee back with your referrals, which effectively reduces your net fees if you happen to’re trading within your network.
Some customers even create trading communities or social teams to share commissions and benefit from pooled referral discounts.
6. Avoid Pointless Trades
It could sound obvious, however minimizing overtrading is without doubt one of the greatest ways to reduce fees. Each trade you make incurs a cost. Before making a trade, ask yourself if it’s crucial or based on a strong strategy. Quality over quantity is key when it involves profitable trading.
Final Ideas
While Binance already presents competitive trading charges, smart traders can save even more by using BNB, climbing the VIP ladder, trading futures when appropriate, using limit orders, and taking advantage of referral programs. Over time, these small financial savings can add up, particularly for high-frequency or high-volume traders.
Always keep updated with Binance’s fee construction and promotions, as they sometimes provide limited-time discounts or bonuses. A little planning can go a long way in maximizing your trading profits.
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