Old leeks in the cryptocurrency circle should all know how scary the handling fees of high-frequency contract transactions are. There are still many people who want to understand the cryptocurrency circle but donât know how much handling fees will be incurred by transactions.
Cryptocurrency exchanges are roughly divided into two trading modes: spot (coin-to-coin) trading and contract trading
Spot (coin-to-coin) trading
Spot trading is similar to stocks. You can only buy high and sell high. However, both buying and selling require a handling fee.
Binance Spot Fee Rate
Taking the leading platform Weiâan as an example, the spot unilateral handling fee rate is 0.1%
The current price of Bitcoin is 65000u, and a transaction fee of 130u is required for buying and selling
However, Binance has many preferential policies. Holding BNB can deduct 25% of the transaction fee. Some trading pairs do not even require transaction fees, which greatly reduces the user's expenditure. If there is a rebate, part of the transaction fee can be returned.
Perpetual Contract Trading
The perpetual contract trading model has one more buying direction than spot trading. You can not only buy up (long), but also buy down (short), and you can add leverage. However, there is a margin call mechanism, and the risk is relatively much greater. It is not recommended for novices.
Binance Futures Fee Rates
It can be seen that the contract fee rate is divided into Maker (order, limit order) and Taker (order, market order)
Different transaction modes have different handling fee rates. The unilateral handling fee rates are 0.02%-0.05% respectively.
Assuming a principal of 1000u and a leverage of 50 times, the position value is 50000u, and the opening and closing of the position together require a handling fee of 20-50u.
This is just the handling fee for one order. If you trade three times a day, thatâs 90 times a month. The accumulated handling fee is 1800-4500u.
Many users feel that their trading volume is not large, but trading is a long-term process. The longer the time, the more expenses, so rebates are particularly important.
In addition to the handling fee rebate, Binance can also use BNB for deductions, and some trading pairs also have discounts, which can be superimposed on each other. This is much better than other exchanges.
As long as you fill in the invitation code when registering, you can get a corresponding proportion of the handling fee rebate
Many users do not know whether they have received rebates or whether they have filled in the invitation code when registering, because many links now come with an invitation code, and the commissions that should have belonged to them are all given to others.
Before registering and filling in the invitation code, be sure to consult the details such as the rebate ratio, rebate time, and rebate method, and then check whether it is consistent after the transaction.
