#CryptoFees101
If you are trading currencies on Binance, you must understand the fees (the fees) so you won't be surprised! Here, I will explain to you the most important things that concern you:
1. Trading Fees
Binance charges fees on every buy or sell transaction, which is (0.1%) of the transaction value. However, if you use the currency (BNB) = (Binance's own currency), the fees will drop to (0.075%). This is a significant difference, meaning a very good saving.
2. Withdrawal Fees
Each currency has different withdrawal fees, which change based on network conditions. For example:
- Bitcoin (BTC) has higher fees than USDT.
- Binance constantly updates the prices, so always check the numbers before you withdraw.
3. VIP Discounts
If you are trading large amounts, you can enter the VIP program which reduces the fees to (0.02%) based on your trading volume.
**Final Advice**
Always compare prices, use (BNB) to save, and keep up with Binance updates so you won't be surprised by any changes.
I hope I have provided you with new information and I wish everyone good luck ☺️
