#CryptoFees101

Why is it cheaper to withdraw funds from Binance via bank transfer compared to using a card?

Withdrawing funds via bank transfer is generally more economical. With this method, a fixed fee is charged, for example, €1 per transaction, while card withdrawals are calculated as a percentage, reaching approximately 2% of the amount. Therefore, the transfer option is more advantageous for larger transactions. This is a key difference when evaluating Binance's fees.

What are the different commission rates for buying cryptocurrencies on Binance using a bank transfer compared to a credit card?

When buying cryptocurrencies, fees vary depending on the payment method. A bank transfer through the SEPA system usually has a low fee of 0.5% and allows transfers without additional cost. In contrast, if you use a credit card, the fee rises to 2%. These are the fees from Binance for buying and selling that you should consider to make an informed decision.

Strategies to reduce fees.

An effective way to reduce fees is to use BNB to pay for commissions. Additionally, increasing your trading volume allows you to access VIP levels, granting you reduced fees. This strategy makes Binance's fees even more competitive for active users.