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Learn how to Decrease Binance Trading Charges: Tips and Tricks
Binance is likely one of the most popular cryptocurrency exchanges globally, known for its wide range of coins, high liquidity, and competitive trading fees. However, if you happen to’re an active trader or planning to turn into one, even small fees can eat into your profits over time. Fortunately, Binance gives several ways to reduce these costs. In this article, we’ll explore practical suggestions and tricks that will help you reduce Binance trading charges and keep more of your earnings.
1. Use BNB to Pay for Fees
One of many best and most effective ways to reduce trading fees on Binance is to pay them using BNB (Binance Coin), the platform's native cryptocurrency. When you enable the "Use BNB to pay for charges" option in your account settings, Binance gives a 25% low cost on spot trading fees and a ten% low cost on futures trading fees.
To take advantage of this, make sure you always have a small amount of BNB in your wallet. The system automatically deducts fees from your BNB balance, helping you save significantly over time.
2. Enhance Your VIP Level
Binance has a VIP program that rewards high-volume traders with reduced trading fees. The higher your 30-day trading quantity (in BTC equal) and the more BNB you hold, the higher your VIP level.
There are 9 VIP levels, every providing progressively lower maker and taker fees. For instance, an everyday user (VIP 0) pays 0.1% on each sides of the trade, while VIP 1 users could pay as low as 0.075% and even less.
In case you're a frequent trader, particularly if you happen to're managing massive positions or trading throughout multiple pairs, it’s value tracking your quantity and aiming for higher VIP tiers.
3. Trade on Binance Futures for Lower Fees
When you're comfortable with leveraged trading and futures contracts, Binance Futures generally offers lower charges than spot trading. Maker and taker fees on Binance Futures start at 0.02% and 0.04%, respectively—significantly lower than customary spot market fees.
While futures trading entails more risk, it could be a cost-effective way for experienced traders to save on fees, particularly when combined with BNB price discounts or VIP benefits.
4. Use Limit Orders Instead of Market Orders
Every trade entails two parties: a maker, who adds liquidity to the market by inserting a limit order, and a taker, who removes liquidity by filling it with a market or limit order.
Binance expenses higher fees for takers than for makers. To reduce charges, consider inserting limit orders instead of market orders whenever possible. This not only lowers your charges but in addition gives you better control over your entry and exit points.
5. Join Binance Referral or Affiliate Programs
If you happen to're introducing friends or followers to Binance, you possibly can sign up for their referral or affiliate program. You’ll earn a fee from their trading fees, and you'll share part of that fee back with your referrals, which effectively reduces your net fees should you’re trading within your network.
Some customers even create trading communities or social groups to share commissions and benefit from pooled referral discounts.
6. Avoid Pointless Trades
It may sound obvious, but minimizing overtrading is without doubt one of the greatest ways to reduce fees. Each trade you make incurs a cost. Earlier than making a trade, ask yourself if it's crucial or primarily based on a stable strategy. Quality over quantity is key when it comes to profitable trading.
Final Thoughts
While Binance already offers competitive trading charges, smart traders can save even more by utilizing BNB, climbing the VIP ladder, trading futures when appropriate, using limit orders, and taking advantage of referral programs. Over time, these small savings can add up, especially for high-frequency or high-volume traders.
Always keep updated with Binance’s fee construction and promotions, as they sometimes provide limited-time discounts or bonuses. A little planning can go a long way in maximizing your trading profits.
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