Binance fees

An important part of the analysis before choosing an exchange is the fees. Many companies in by attracting users with promotional offers that, on the face of it, are profitable for them. But in reality, it turns out that the system commissions and extra fees and payments add up making the transactions unprofitable. However, this is not the case with Binance as their trading fees are among the lowest in the industry as you will see below.

Binance Deposit fees

When making payments, a 0.5%-2% commission will be charged from the card, depending on the currency. For exotic currencies and banks from countries that do not work with international clearing systems, commissions may be higher. With P2P payments, a 0.35% commission is charged when you place your cryptocurrency purchases. When it is accepted by the seller, the creator (the one who placed the order) pays a commission. If you accept an already placed bid (buyer), the transaction takes place without commission. Fiat top-up through interbank transfer systems and electronic payment systems is subject to a 0.5% – 3.5% commission, depending on the currency and how funds are deposited. Current information is always published next to the selected payment method.

Binance Withdrawal Fees

Withdrawals of cryptocurrency are subject to transaction fees only by the supporting network. There are no additional fees from Binance. P2P withdrawal – a 0.35% fee when making an order at a favorable rate for the customer. No fee will be charged when accepting a placed bid. Withdrawal to fiat – the fees vary from 0.5% to 3.5% depending on the type of withdrawal.

Transaction costs

As usual, the fee structure decreases when high trading volumes are reached during the trading month. The base rate for a novice trader ranges from 0.1% to 0.04% depending on trading volume. When paying fees with BNB tokens, the fee is reduced by 25%. Margin Loan – Binance has a fee of 0.1% or less. Other fees for more complex trades do not exceed 0.15% and decrease with increasing trading volumes.

Important! For some trades, the fees may be combined, e.g. for using margin + on the trade itself, where this margin will be used The fees on Binance is one of the lowest of the TOP 10 cryptocurrency trading platforms in the world.

Bonuses and Promotions

Binance hosts a large number of bonuses and special incentives. They have created a special section on the site where all current offers are displayed for the customer. The number of offers and their profitability depend on the level of the account, that is, on the monthly turnover.

A separate area is bonus deposits and promotions for new investments or trading instruments. Thus, Binance offers coupons for depositing small amounts of BUSD for 7 days with interest immediately deposited into the user’s account. This is how Binance demonstrates the simplicity and profitability of staking. There are also coupons for participating in various events and collecting coins as part of airdrops for active users.