- Are you paying high trading fees on Binance?
- Do you even know how much trading fees you paying on Binance?
But before I share the trick by which you can reduce your Binance trading fees, do you even know how much Binance charges as trading fees?
Well, by default Binance charges 1% as trading fees, and by following the tricks mentioned in this article and embedded video, you will be able to save a minimum of 35% and a maximum of 85% on your trading fees.
Let’s look at how this is possible.
How to Reduce Binance trading fees?
If you like to learn by watching videos, you should watch this video:
1. Use Special Binance Discounted Sign-up Link:
Using this special discounted link, you will be paying 20% less on every transaction that you are doing on Binance. This way, you are saving a significant portion on your trading fees. Not only that, this discount is forever.
If you need to create a new Binance account and have only one Gmail address, you can use Gmail trick to create multiple accounts with a single email address.
2. Use BNB to Pay your Trading fees:
After signing up and adding funds to your Binance account, you should buy some BNB. BNB is the native token of Binance exchange that would help you save up to 25% on your trading fees. This feature can be enabled from the Binance dashboard.
3. Level up your Binance VIP level:
Binance offers a VIP program that any user can use to lower down their trading fees. This feature is best suited for those who are heavy traders, as you also need to hold a significant portion of the BNB token. You can check the Binance VIP schedule here.
To be honest, this feature is for heavy traders, but again if you are already trading in the likes of more than 50BTC in a month, you can add BNB to your account, and increase your VIP level. With every VIP level increment, you will be paying fewer trading fees.
This is one feature a lot of Binance users are not aware of, and they end up paying significant fees on their every trade. Now, you don’t need to be that kind of guy, and by following these strategies, you could lower down your trading fees on Binance.
Conclusion: Binance trading fees
Personally, I feel trick#1 and trick#2 are easy to pull off, and you should target that to lower down your fees by close to 35%.
Undoubtedly Binance is the best crypto exchange out there, and the kind of features it offers; could be overwhelming for new users. However, here at CoinSutra, we are doing our best to help you understand the different tricks and strategies you could follow to make life-changing money, and at the same time save money. After all, money saved is money earned.
Well, I have also made this detailed video on Binance mobile app which you should check out. As a beginner, you would learn everything you need to know about using Binance mobile app:
Last but not the least, do share this Binance trading fee saving trick with your friends and network, who are getting started with cryptocurrencies. And, if you have a question, let me know by asking in the comment section below.
For further reading:
About Harsh Agrawal :
An award-winning blogger with a track record of 15+ years. He has a background in both finance and technology and holds bachelors degree in Information technology and engineering.
An international speaker and author who believes in the future of blockchain and the applications of the crypto world.
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Harsh has 15+ years of experience in Fintech and 7+ years in Blockchain and Bitcoin. He has also moderated the panel of Blockchain experts and attended international blockchain events like BTCMiami, Mainnet Messari, and Token2049.