Understanding and Reducing Your Costs
Navigating cryptocurrency fees is essential for maximizing your gains. You'll primarily encounter maker/taker fees, gas fees, and withdrawal costs.
Maker/taker fees are exchange charges for trading. "Makers" add liquidity (e.g., limit orders) and typically pay lower fees, sometimes even receiving rebates. "Takers" remove liquidity (e.g., market orders) and pay higher fees. On Binance, holding BNB and using it to pay fees can significantly reduce these trading costs (up to a 25% discount).
Gas fees (or network fees) are paid to blockchain validators for processing transactions. These fluctuate based on network congestion. Withdrawal costs include a small exchange fee and the network's gas fee.
To reduce costs, prioritize maker orders when possible, pay fees with BNB, and choose networks with lower gas fees for withdrawals. Always review the fee breakdown before confirming any transaction.
