Binance, the world’s largest cryptocurrency exchange by trading volume, does not have trading fees. That’s right, you can trade on Binance without paying any trading fees.
This is a huge benefit for traders as it allows them to trade without having to worry about any extra fees.
Binance was founded in 2017 and quickly rose to become the largest cryptocurrency exchange in the world. Binance is known for its low fees, fast transactions, and wide range of cryptocurrencies.
Binance does not charge any deposit or withdrawal fees. The only fee you will ever pay on Binance is the trading fee.
And as we mentioned before, there are no trading fees.
So how does Binance make money if they don’t charge any fees?
NOTE: WARNING: Trading on Binance may involve fees, which are subject to change. It is important to do your own research and understand the fees associated with trading on Binance prior to engaging in any trades. Failure to do so may result in losses or other unforeseen financial consequences.
Binance makes money by charging a small percentage on each trade that is executed on their platform. This is called the “maker-taker” fee model.
The maker-taker fee model works like this:
The “maker” is the trader who places a limit order that is not immediately matched by an existing order.
The “taker” is the trader who places an order that immediately matches an existing order.
The maker fee is 0.1% and the taker fee is 0.1%. So if you buy 1 BTC at $10,000 and sell it at $10,100, you will pay a 0.1% taker fee which is $1. If you had placed a limit order to sell at $10,100 and someone bought it from you, you would have been the maker and would have paid a 0.
1% maker fee which would have been $0.90. In this example, the taker pays a higher fee because they are taking liquidity from the market. The maker provides liquidity to the market and so they are rewarded with a lower fee.
The maker-taker fee model benefits both traders and Binance as it encourages traders to place limit orders (which provide liquidity) and also provides an incentive for people to trade on Binance (as they know they will get better prices due to the lack of trading fees).
9 Related Question Answers Found
Binance, one of the world’s largest cryptocurrency exchanges, does not charge fees for trading. The company announced this in a blog post on Tuesday (May 2), stating that “from now on, all trading fees on Binance will be 0%.”
The move is part of Binance’s plan to “subsidize” the trading fees for its users. The exchange will be using part of its profits to cover the costs.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, does not charge fees for trading. This may come as a surprise to some, as most exchanges do charge fees – typically a percentage of the total trade value – but Binance has always been different. The company has always been focused on user experience and making crypto accessible to everyone, and part of that is offering free trading.
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