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The best way to Decrease Binance Trading Charges: Tips and Tricks
Binance is among the most popular cryptocurrency exchanges globally, known for its wide range of coins, high liquidity, and competitive trading fees. However, in case you’re an active trader or planning to become one, even small fees can eat into your profits over time. Thankfully, Binance provides several ways to reduce these costs. In this article, we’ll discover practical ideas and tricks to help you reduce Binance trading fees and keep more of your earnings.
1. Use BNB to Pay for Fees
One of the best and only ways to reduce trading fees 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 provides a 25% low cost on spot trading charges and a 10% discount 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 charges from your BNB balance, helping you save significantly over time.
2. Increase Your VIP Level
Binance has a VIP program that rewards high-quantity 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 offering progressively lower maker and taker fees. For instance, a daily consumer (VIP 0) pays 0.1% on both sides of the trade, while VIP 1 users could pay as little as 0.075% or even less.
Should you're a frequent trader, especially for those who're managing large positions or trading throughout multiple pairs, it’s value tracking your volume and aiming for higher VIP tiers.
3. Trade on Binance Futures for Lower Charges
For those who're comfortable with leveraged trading and futures contracts, Binance Futures generally presents lower fees than spot trading. Maker and taker fees on Binance Futures start at 0.02% and 0.04%, respectively—significantly lower than commonplace spot market fees.
While futures trading includes more risk, it could be a cost-effective way for knowledgeable traders to avoid wasting on fees, especially when combined with BNB fee reductions or VIP benefits.
4. Use Limit Orders Instead of Market Orders
Every trade includes parties: a maker, who adds liquidity to the market by putting a limit order, and a taker, who removes liquidity by filling it with a market or limit order.
Binance charges 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
Should you're introducing friends or followers to Binance, you may sign up for their referral or affiliate program. You’ll earn a commission from their trading charges, and you'll share part of that commission back with your referrals, which successfully 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 Pointless Trades
It may sound obvious, but minimizing overtrading is likely one of the greatest ways to reduce fees. Every trade you make incurs a cost. Before making a trade, ask your self if it's essential or based mostly on a solid strategy. Quality over quantity is key when it involves profitable trading.
Final Ideas
While Binance already offers competitive trading charges, smart traders can save even more through the use of 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, particularly for high-frequency or high-volume traders.
Always keep updated with Binance’s payment structure and promotions, as they occasionally supply limited-time reductions or bonuses. A little planning can go a long way in maximizing your trading profits.
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