As a leading global cryptocurrency trading platform, Binance's fee system is a key consideration for traders. Fees directly affect your trading costs.
- Spot trading: The standard fee is 0.1% of the transaction amount. If you buy a cryptocurrency for $10,000, you will pay a $10 fee.
- Contract trading: Divided into Maker and Taker fees, usually Maker fees are lower than Taker fees; for example, the Maker fee might be 0.02% while the Taker fee might be 0.04%.
- Using BNB for payment: If you choose to pay trading fees with Binance's native token BNB, you can enjoy a fee discount of 25% to 50%, significantly reducing your trading costs.
- VIP level: Based on your trading volume and BNB holdings, Binance offers a VIP level system. The higher your VIP level, the greater the fee discount, and you may even be exempt from some trading fees.
#What is a rebate
Rebate is an incentive mechanism provided by trading platforms to encourage users to trade more by returning a portion of the trading fees.
The following are the specific details of Binance's rebates:
- Invitation rebate: Binance's referral program allows users to invite new users to register and trade through a unique referral link. Whenever the referred user trades, the referrer can earn a portion of their trading fees as a rebate. The rebate rate is usually around 20%.
- Rebate calculation: Suppose you made a $10,000 trade with a fee of $10 (standard spot trading). If the rebate rate is 20%, you will receive a $2 rebate.
- Form of rebate: Rebates are usually paid directly to your Binance account in the form of BNB or USDT to reduce your trading costs.
By understanding Binance's trading fee structure, especially the rebate mechanism, you can effectively reduce trading costs while increasing additional income through the referral program. Whether you are a short-term trader or a long-term investor, making good use of these mechanisms will make your investment strategy more cost-effective.
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