Binance, Exchanges

What Are the Fees for Binance?

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.

Previous ArticleNext Article