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How to Reduce Binance Trading Charges: Ideas and Tricks
Binance is without doubt one of the most popular cryptocurrency exchanges globally, known for its wide range of coins, high liquidity, and competitive trading fees. Nonetheless, in the event you’re an active trader or planning to change into one, even small fees can eat into your profits over time. Luckily, Binance affords a number of ways to reduce these costs. In this article, we’ll discover practical suggestions and tricks to help you reduce Binance trading charges and keep more of your earnings.
1. Use BNB to Pay for Fees
One of many best and most effective ways to reduce trading charges on Binance is to pay them using BNB (Binance Coin), the platform's native cryptocurrency. If you enable the "Use BNB to pay for charges" option in your account settings, Binance affords a 25% low cost on spot trading charges and a ten% 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 fees from your BNB balance, serving to 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 volume (in BTC equivalent) 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 daily user (VIP zero) pays 0.1% on both sides of the trade, while VIP 1 customers could pay as little as 0.075% and even less.
For those who're a frequent trader, especially if you happen to're managing massive positions or trading across multiple pairs, it’s value tracking your quantity and aiming for higher VIP tiers.
3. Trade on Binance Futures for Lower Fees
In the event you're comfortable with leveraged trading and futures contracts, Binance Futures generally provides lower charges than spot trading. Maker and taker charges on Binance Futures start at 0.02% and 0.04%, respectively—significantly lower than normal spot market fees.
While futures trading involves more risk, it can be a cost-effective way for experienced traders to save on fees, especially when combined with BNB price 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 inserting a limit order, and a taker, who removes liquidity by filling it with a market or limit order.
Binance prices higher charges for takers than for makers. To reduce fees, consider inserting limit orders instead of market orders whenever possible. This not only lowers your charges but additionally offers you better control over your entry and exit points.
5. Join 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 fees, and you may share part of that fee back with your referrals, which successfully reduces your net fees in case you’re trading within your network.
Some users even create trading communities or social groups to share commissions and benefit from pooled referral discounts.
6. Avoid Unnecessary Trades
It may sound apparent, but minimizing overtrading is without doubt one of the finest ways to reduce fees. Every trade you make incurs a cost. Before making a trade, ask yourself if it's crucial or based on a strong strategy. Quality over quantity is key when it comes to profitable trading.
Final Thoughts
While Binance already presents competitive trading fees, 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 financial savings can add up, especially for high-frequency or high-quantity traders.
Always keep up to date with Binance’s fee construction and promotions, as they sometimes offer limited-time discounts or bonuses. A little planning can go a long way in maximizing your trading profits.
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