Binance is a cryptocurrency exchange that was founded in 2017. Since its launch, Binance has grown to become one of the largest and most popular cryptocurrency exchanges in the world.
Binance offers a wide range of features and services, including a spot exchange, margin trading, derivatives, and more.
One of the key features that makes Binance so popular is its low fees. Binance charges a 0.1% fee on all trades, which is much lower than the industry average. Additionally, Binance offers a discount to users who pay their fees with Binance Coin (BNB).
For example, if you use BNB to pay your trading fees, you will only be charged 0.075% per trade.
So, how can you avoid fees on Binance?
There are a few different ways to avoid fees on Binance. One way is to simply not trade.
If you are holding cryptocurrencies in your Binance account and are not planning on trading them, then you will not be charged any fees.
Another way to avoid fees is to use limit orders instead of market orders. When you place a market order, your trade will be executed immediately at the best available price. However, you will also be charged a 0.1% fee.
If you use a limit order, your trade will only be executed when the price of the cryptocurrency reaches your specified price (or better). Limit orders are not charged any fees.
Finally, you can avoid fees by using Binance Coin (BNB) to pay your trading fees. As mentioned earlier, if you use BNB to pay your trading fees, you will only be charged 0.
075% per trade. This is a significant discount and can help you save money if you are an active trader on Binance.
No matter what method you choose, there are ways to avoid paying fees on Binance. By using one of the methods mentioned above, you can save money and trade more efficiently on one of the world’s largest cryptocurrency exchanges.