What is Binance Exchange's transaction fee: a service fee charged from user operations
As the world's largest exchange, Binance makes profits by charging a small "handling fee" from every "operation behavior" of users. That is, no matter whether you are transferring money on the chain, spot trading, opening a contract, staking investment or the latest Binance payment, as long as the operation is successful, you have to pay a small service fee to Binance.
How to pay Binance exchange fees
Currently, Binance's transaction fees are directly deducted from the transaction amount.
For example, if you have 100 USDT (US dollar stablecoin) and want to buy 1 cryptocurrency A worth 1 USD. If you put all 100 yuan in the order, you will only get 99.9 A tokens in the end, because 0.1 USD is taken as a handling fee. Similarly, if you want to transfer out 100 USD of cryptocurrency, you need to have enough spot as a handling fee to transfer out the full 100 USD of cryptocurrency.
Although the handling fee only accounts for a little over a fraction of the operating amount, it may be a considerable amount when accumulated over a long period of time. Therefore, before operating, let’s take a look at the handling fees of each function of Binance and find out how to operate it in the most cost-effective way!
Binance deposit/deposit fee: Cryptocurrency and C2C free, credit card over 2%
► Cryptocurrency deposit: The so-called cryptocurrency deposit is to transfer cryptocurrencies from other blockchain wallets or exchanges to Binance. Currently, Binance does not charge cryptocurrency deposit/deposit fees. That is to say, no matter how much cryptocurrency you deposit into your Binance account, Binance will not charge a commission from it. You will get as much as you deposit.
► C2C deposit: also known as Customer to Customer, using the matching platform provided by Binance, buyer users can browse other sellers' orders on the matching market, select an acceptable cryptocurrency exchange rate quote, and then transfer the funds to the designated account by remittance. Usually, they can find orders that are cheaper than credit cards.
Using the C2C service on Binance also has 0 transaction fees, but the buyer has to compare the exchange rates of cryptocurrencies on his own. In addition, when transferring fiat currency, the bank may charge a transfer fee.
► Credit card deposit: Currently, using a credit card to purchase stablecoins such as USDT or USDC directly on Binance costs about 2% in transaction fees, and the exchange rate is usually poor (taking the US dollar as an example, the exchange rate of 32 elsewhere may be more than 34 when purchased with a credit card). Usually, a 1.5% overseas card processing fee from the bank is added, and the total cost may be as high as 7%.
Although it is fast, this deposit method is not recommended due to its high cost and restrictions on credit cards that can be used based on government regulations in different countries.
Binance withdrawal/withdrawal fees
To withdraw cryptocurrencies from Binance, there are different calculation methods depending on the currency and the blockchain it belongs to. Below we list the withdrawal fees of several common currencies. (Please note that the "unit" of the handling fee is different for each currency or blockchain, so remember to read it carefully before withdrawing)
If you want to know the withdrawal/refund fees of other currencies listed on Binance, you can also go to the Binance deposit/refund fee description page and use "Search Tokens" to check.
Binance spot and margin trading fees: Maker 0.1%, Taker 0.1% (one thousandth)
Binance spot and margin trading fees vary according to the user's overall trading volume and BNB holdings. In simple terms, if you have a larger cumulative trading volume or more BNB holdings in your account, you can enjoy more fee discounts.
However, this discount is usually only available to large traders. If you are an ordinary user, that is, a user whose trading volume does not exceed 1 million US dollars in 30 days, or a user who holds no more than 25 BNB, whether you are a buyer or a seller, your "buy coin" and "sell coin" handling fee is 0.1%.
💡If you want to save on spot trading fees, in addition to the two methods mentioned at the beginning of the article, if you directly use the Taker (taker) of the market transaction and trade with USDC, the fee is 0.095%, which is 0.005% cheaper than using USDT; or if you have BNB in your Binance account, you can enjoy a 25% discount on the fee by using BNB to offset the fee.
Binance U standard contract fee: Maker 0.02%, Taker 0.05%
► U-margin contract means that users use USDT, USDC and other USD stablecoins as the margin of the contract.
If you are an ordinary user, that is, a user whose trading volume does not exceed 1.5 million US dollars within 30 days, or a user who holds no more than 25 BNB, whether you are a buyer or a seller, your U-based contract "order placing" fee is 0.02% and the "order taking" fee is 0.05%.
💡If you have BNB in your Binance account, you can enjoy a 10% discount on transaction fees by using BNB to offset transaction fees.
Binance Coin-margined futures trading fee: Maker 0.02%, Taker 0.05%
► Coin-based contracts refer to: users use BTC, ETH and other cryptocurrencies as margin for the contract.
If you are an ordinary user, that is, a user whose trading volume does not exceed 1.5 million US dollars in 30 days, or a user who holds no more than 25 BNB, whether you are a buyer or a seller, your coin-based contract "order placing" fee is 0.02% and the "order taking" fee is 0.05%. (The fees for U-based and coin-based contracts are almost the same, the difference is that coin-based contracts do not have USDC and BNB discounts.)
Binance Options Fees: Maker 0.03%, Taker 0.03%
► Options trading refers to: a form of derivative financial product trading that allows investors to buy or sell a certain cryptocurrency at a predetermined price at a specific point in the future.
If you are an ordinary user, that is, a user whose trading volume does not exceed 1 million US dollars within 30 days, whether you are a buyer or a seller, your option "order maker" fee is 0.03% and your "order taker" fee is 0.03%.
Binance Pay Transaction Fee
► Binance Payment is a cryptocurrency payment solution developed by Binance. Users can use Binance Payment to pay merchants or send and receive cryptocurrencies to other users. Different percentages of handling fees will be charged depending on the usage scenario.
