#CryptoFees101

In this topic on the basics of diving into cryptocurrency trading, we will talk about fees.

Fees are charged on every transaction in spot trading, both when buying tokens and when selling.

For example, if you bought XRP for $10, the fee that the exchange will take will be 0.001% and it will be calculated in the tokens you are buying, in this case in XRP. And when selling, the same 0.001% will be in USDT if you bought it with USDT.

The development of the stablecoin USDC often exempts from fees (see conditions). Also, if you agree to pay the fee in BNB, you receive a discount of 0.00025% off the total fee amount or 25% off the fee rate (in terms of total, it's the same, depending on how you calculate it).

In futures trading, there are also discounts for BNB and exemptions when purchasing with USDC. Additionally, in futures, there is a financing rate that can be so high (the rate is not fixed and changes every 4 hours) that it can swallow even profitable trades, while losing trades can increase losses to very significant amounts. The financing rate can be charged and credited to you.

So be careful, Dear Friends, and calculate your trading strategy!!! 🤔