Binance is the most popular crypto exchange out there. It is an independent third party platform for buying and selling crypto coins. If you are reading this article then probably you already know about Binance. So let’s straight ahead towards the question of how much trading through Binance exchange cost.
Binance costs too low in comparison to other trading platforms. Moreover, it has a depositing fee. The standard fee is 0.1%. Every time you buy or sell a coin 0.1% of the total money will be charged by the Exchange. This price is the same for both makers and takers with a trading volume of less than 50 BTC for 30 days. Moving forward from this stage (i.e. VIP0) makers and takers get to have different pricing structures.
Here is what the maker/taker terminology means. Makers are basically the people who make the market. When someone places an order and it reaches the order then ensuing trades for that order are makers. This addition of volume to the ‘order book’ makes the market.
Takers, on the other hand, instantly take an order before the later reaches the ‘order book’. Hence, takers signify the act of taking volume off the order book.
As the trade volume of a maker surges from 50 BTC within a time span of 30 days, they get to pay 0.09%. Takers get this advantage over trade volume of equal to or more than 4500 BTC.
At the highest level of trading 0.02 to 0.04% fee is charged. The threshold volume for this is 150,000 BTC.
The fee structure is also attached to how much Binance coin (the platform’s own currency) a user holds. For example, having more than 1000 BNB will reduce the fee to 0.07-0.09%.
Using Binance coins to pay the fee will get you a further 25% off. Besides, refereeing a friend to Binance will also give you discounts.
Binance is the leading exchange in the crypto market. It takes care of your money, provides safety while charging a minimal amount. Making an account at Binance exchange is an easy process that you can follow here. So get on Binance platform and start taking advantage of tension-free trading operations.