Binance, the world’s largest cryptocurrency exchange by trading volume, has been growing at an unprecedented rate since it was founded in 2017. In the past year alone, Binance has added millions of new users, and now has over 10 million registered users from all over the world.
With this rapid growth, many people are wondering what fees Binance charges for its services. Let’s take a look at the different types of fees that Binance charges, and how they compare to other major exchanges.
Binance has two types of fees: trading fees and withdrawal fees.
Trading fees are charged when you make a trade on Binance. The fee is calculated as a percentage of the trade’s total value and is paid by the maker (the person who is selling) or the taker (the person who is buying). For most trades, the maker fee is 0.1% and the taker fee is 0.2%.
However, these rates are reduced for users with higher trading volumes. For example, if you trade more than 50 BTC worth of cryptocurrencies in a 30-day period, your maker fee will be 0.075% and your taker fee will be 0.15%.
NOTE: WARNING: Binance fees can vary depending on the type of transaction being made. Fees may include trading fees, deposit and withdrawal fees, and listing fees. Please read through the fee schedule carefully before making any transactions on Binance, as these fees can add up quickly.
Withdrawal fees are charged when you withdraw cryptocurrencies from Binance to an external wallet. The withdrawal fee varies depending on the cryptocurrency you are withdrawing, but is generally around 0.1%.
For example, if you withdraw 1 BTC from Binance, you will be charged a withdrawal fee of 0.001 BTC.
Compared to other major exchanges, Binance’s fees are very competitive. For example, Coinbase Pro charges a maker fee of 0.3% and a taker fee of 0.2%, while Kraken charges a maker fee of 0.
16% and a taker fee of 0.26%.
Overall, Binance provides a very user-friendly platform with low fees, which has contributed to its massive popularity in the cryptocurrency community.
9 Related Question Answers Found
Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. As of January 2018, Binance was the largest cryptocurrency exchange in the world in terms of trading volume. Binance has a tiered fee structure for trading and withdrawing funds from the exchange.
Binance is a cryptocurrency exchange that was founded in 2017. The company is headquartered in Malta and has offices in various countries around the world. Binance is one of the most popular cryptocurrency exchanges and allows users to trade a variety of cryptocurrencies.
Binance is a cryptocurrency exchange that launched in July 2017. The company is based in China but has an office in Tokyo, Japan. Binance is the world’s largest cryptocurrency exchange with a daily trading volume of $2.
4 billion.
Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. As of January 2018, Binance was the largest cryptocurrency exchange in the world in terms of trading volume. Binance has a tiered fee structure for transactions on its platform.
Binance is a digital asset exchange platform that provides a wide range of services including spot and derivatives trading, margin trading, lending, staking, and more. One of the key features of Binance is its low fees. In addition to charging low fees, Binance also offers a funding fee to help offset the costs associated with providing these services.
Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. Binance was founded in 2017 and is headquartered in Malta. Binance has grown rapidly since its launch and is now one of the largest cryptocurrency exchanges in the world.
Binance is a digital asset exchange that facilitates trading of cryptocurrencies. The name “Binance” is a combination of two words – binary and finance. The company behind Binance is Binance Ltd.
Binance Funding Fee is a fee charged by Binance for providing liquidity to the market. This fee is used to incentivize market makers to provide liquidity and make the market more efficient. The funding fee is paid out of the transaction fees collected by Binance and is split between the market makers and takers.
The Binance team provides a great deal of help when it comes to understanding the different aspects of the exchange. However, one question that still seems to pop up frequently is “What do the lines mean on Binance?”
The first thing to note is that the colored lines are not actual candlesticks. They are simply lines that indicate the opening and closing price of an asset during a certain time period.
