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The way to Reduce Binance Trading Charges: Tips and Tricks
Binance is without doubt one of the most popular cryptocurrency exchanges globally, known for its wide range of coins, high liquidity, and competitive trading fees. Nonetheless, in case you’re an active trader or planning to develop into one, even small charges can eat into your profits over time. Happily, Binance gives several ways to reduce these costs. In this article, we’ll explore practical ideas and tricks that will help you reduce Binance trading charges and keep more of your earnings.
1. Use BNB to Pay for Charges
One of the easiest and simplest ways to reduce trading charges on Binance is to pay them using BNB (Binance Coin), the platform's native cryptocurrency. Whenever you enable the "Use BNB to pay for fees" option in your account settings, Binance presents a 25% low cost on spot trading fees and a 10% discount on futures trading fees.
To take advantage of this, make certain you always have a small quantity of BNB in your wallet. The system automatically deducts charges out of your BNB balance, helping you save significantly over time.
2. Improve Your VIP Level
Binance has a VIP program that rewards high-volume traders with reduced trading fees. The higher your 30-day trading volume (in BTC equal) and the more BNB you hold, the higher your VIP level.
There are 9 VIP levels, each providing progressively lower maker and taker fees. For instance, a daily person (VIP 0) pays 0.1% on each sides of the trade, while VIP 1 users could pay as little as 0.075% and even less.
In case you're a frequent trader, particularly if you happen to're managing large positions or trading across a number of pairs, it’s worth tracking your volume and aiming for higher VIP tiers.
3. Trade on Binance Futures for Lower Fees
For those who're comfortable with leveraged trading and futures contracts, Binance Futures generally affords lower fees than spot trading. Maker and taker charges on Binance Futures start at 0.02% and 0.04%, respectively—significantly lower than normal spot market fees.
While futures trading includes more risk, it can be a cost-efficient way for experienced traders to avoid wasting on charges, particularly when mixed with BNB charge reductions or VIP benefits.
4. Use Limit Orders Instead of Market Orders
Every trade involves parties: a maker, who adds liquidity to the market by placing a limit order, and a taker, who removes liquidity by filling it with a market or limit order.
Binance costs higher fees for takers than for makers. To reduce charges, consider putting limit orders instead of market orders at any time when possible. This not only lowers your fees but additionally offers you higher control over your entry and exit points.
5. Be a part of Binance Referral or Affiliate Programs
In case you're introducing friends or followers to Binance, you'll be able to sign up for their referral or affiliate program. You’ll earn a commission from their trading charges, and you can share part of that commission back with your referrals, which effectively reduces your net charges in case you’re trading within your network.
Some customers even create trading communities or social teams to share commissions and benefit from pooled referral discounts.
6. Avoid Unnecessary Trades
It may sound obvious, however minimizing overtrading is likely one of the best ways to reduce fees. Each trade you make incurs a cost. Before making a trade, ask your self if it's mandatory or based on a strong strategy. Quality over quantity is key when it comes to profitable trading.
Final Thoughts
While Binance already presents competitive trading charges, smart traders can save even more by using BNB, climbing the VIP ladder, trading futures when appropriate, utilizing limit orders, and taking advantage of referral programs. Over time, these small savings can add up, particularly for high-frequency or high-volume traders.
Always stay updated with Binance’s payment structure and promotions, as they often offer limited-time discounts or bonuses. A little planning can go a long way in maximizing your trading profits.
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