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The best way to Reduce 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, in the event you’re an active trader or planning to develop into one, even small charges can eat into your profits over time. Fortuitously, Binance presents a number of ways to reduce these costs. In this article, we’ll discover practical suggestions and tricks to help you decrease Binance trading fees and keep more of your earnings.
1. Use BNB to Pay for Charges
One of the best and simplest ways to reduce trading fees on Binance is to pay them utilizing BNB (Binance Coin), the platform's native cryptocurrency. If you enable the "Use BNB to pay for fees" option in your account settings, Binance provides a 25% discount on spot trading fees and a 10% 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 out of your BNB balance, helping you save significantly over time.
2. Increase 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, each providing progressively lower maker and taker fees. For example, a regular 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.
In the event you're a frequent trader, particularly in the event you're managing large positions or trading throughout a number of pairs, it’s price 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 affords lower charges than spot trading. Maker and taker fees on Binance Futures start at 0.02% and 0.04%, respectively—significantly lower than normal spot market fees.
While futures trading entails more risk, it is usually a cost-efficient way for experienced traders to avoid wasting on charges, particularly when mixed with BNB fee discounts or VIP benefits.
4. Use Limit Orders Instead of Market Orders
Each trade entails parties: a maker, who adds liquidity to the market by placing a limit order, and a taker, who removes liquidity by filling it with a market or limit order.
Binance costs higher fees for takers than for makers. To reduce fees, consider putting limit orders instead of market orders at any time when possible. This not only lowers your fees but in addition provides 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 possibly can sign up for their referral or affiliate program. You’ll earn a commission from their trading charges, and you'll share part of that fee back with your referrals, which effectively reduces your net charges in the event you’re trading within your network.
Some users even create trading communities or social teams to share commissions and benefit from pooled referral discounts.
6. Keep away from Pointless Trades
It could sound obvious, however minimizing overtrading is likely one of the greatest ways to reduce fees. Every trade you make incurs a cost. Earlier than making a trade, ask your self if it's vital or based mostly on a solid strategy. Quality over quantity is key when it comes to profitable trading.
Final Ideas
While Binance already gives competitive trading fees, smart traders can save even more by utilizing BNB, climbing the VIP ladder, trading futures when appropriate, utilizing limit orders, and taking advantage of referral programs. Over time, these small savings can add up, especially for high-frequency or high-quantity traders.
Always keep up to date with Binance’s charge structure and promotions, as they often supply limited-time discounts or bonuses. A little planning can go a long way in maximizing your trading profits.
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