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Understanding Crypto Fees on Binance: A Quick Guide 🚀 When trading on Binance, it's essential to understand the various fees involved. Knowing these can help you optimize your trading strategy and minimize costs. 💸 Here's a breakdown of common crypto fees: * Trading Fees (Maker/Taker): These are the most frequent fees. Binance uses a "maker-taker" model. * Makers add liquidity to the order book by placing limit orders that aren't immediately filled. They generally pay lower fees, sometimes even receiving rebates. 📉 * Takers remove liquidity by placing market orders that are executed instantly. They typically incur slightly higher fees. 📈 * These fees vary by VIP level (based on trading volume and BNB holdings) and asset pair. * Withdrawal Fees: When you move crypto out of Binance to an external wallet, you'll pay a withdrawal fee. This fee is largely determined by the blockchain network's congestion and the specific cryptocurrency you're withdrawing. Binance adjusts these fees dynamically. ➡️💰 * Deposit Fees: Generally, depositing cryptocurrencies onto Binance is free. However, fiat deposits (e.g., bank transfers) may incur minor processing fees depending on the method and currency. 🏦 * Futures Trading Fees: For futures contracts, fees also follow a maker-taker model, often with different rates than spot trading. Funding fees are also unique to futures, exchanged between long and short positions to keep the perpetual contract price close to the spot price. 🔮 * Convert Fees: Binance Convert, a feature for quickly swapping between cryptocurrencies or fiat, typically boasts zero transaction fees. However, a small spread might be included in the quoted price. 🔄 Pro Tip: Holding and using BNB (Binance Coin) to pay for trading fees often grants a significant discount, typically 25%! Additionally, higher trading volumes can unlock lower fees through Binance's VIP program. ✨ #CryptoFees0101
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Can I get a GM binance frens 💙
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🇺🇸 BlackRock sells 1,250 $BTC worth $130.5 million. #BlackRockETHPurchase
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THE ONLY THING YOU'LL REGRET THIS CYCLE... IS NOT BUYING MORE #crypto #CircleIPO
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#CryptoSecurity101 Protecting your assets is even more important than growing them. Diversifying them in different hot & cold wallets reduces the risk of loosing everything at once. Hackers & scammers can drain your wallets so it’s very important to keep track of your transactions history & look for any suspicious activity like unknown tokens in your wallet that might look like they are worth money. But trust me they don’t. Do not interact with them & simply withdraw & transfer your assets in another fresh wallet. Protecting your wallet’s passphrase & private keys are most important security measures & are not to share with anyone else. Remember the famous saying. “ Not your keys not your crypto “.It is not advised to keep all your major holdings & assets on Exchanges because they are also not immune to hacks. Also there’s always a risk of an Exchange getting banned from your country or they can also restrict your withdrawals. So you should diversify your major & long term holdings in your hot or cold wallets to keep them safe. Always double check or triple check your wallet address, network chain & memo before making any transactions through your wallet. Also it’s always better to send small amounts transactions first to make sure everything is safe. After confirming the transfer was successful then only continue with bigger amounts. You can create as many new wallets as you want. Like create one for Airdrops one for long term crypto holdings one for short term holdings. Another for back up funds. Stay safe
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