Recently, most trading platforms have changed their approach to charging fees for various transactions such as transfers and exchanges. Instead of fees being separate from the transaction and requiring an additional amount to cover them, fees are now deducted directly from the currency sent or from the result of the transaction itself. This approach has many benefits for users and makes it easier for them to conduct transactions without additional complications.

How does this mechanism work?

When you make a transfer or exchange of currency on a particular network, the fee is deducted directly from the amount you send or from the final result of the transaction. In other words:

If you send 10 USDT and the network fee is 1 USDT, the fee will be automatically deducted and 9 USDT will be sent to the recipient.

You do not need to have a separate amount of another currency to cover the fees.

Advantages of this method:

1. Ease of use:

You don't need to worry about providing another currency to pay fees, which removes the complexity from the process.

2. Avoid errors and failure in transactions:

Sometimes, if the fee is separate and requires a different currency than the one you are transferring, the entire transaction may fail if you do not have the currency to pay the fee.

For example:

If you want to send USDT on the BNB Chain network, and the network fee requires BNB, and you do not have enough BNB, the transaction will fail.

In the new system, fees are deducted directly from the amount sent without the need for a separate currency.

3. Greater transparency:

Deducting fees from the same currency makes the process clear and straightforward for the user, as they see the net amount that will be sent or received without any surprises.

Practical example:

If you want to send 50 DOGE and the network fee is 2 DOGE:

In the new system, the fee will be deducted from the same amount sent, i.e. the other party will receive 48 DOGE.

You will not need to own another coin like BNB to pay network fees.

Conclusion:

This new trend being followed by trading platforms like Binance and others is a positive step that will make the process easier for users. Deducting fees from the same currency makes the transfer or exchange process more efficient and reduces the possibility of errors and failures. It is important that all platforms and networks adopt this approach to ensure a smooth and convenient experience for everyone.