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, the fees vary depending on the payment method. A bank transfer through the SEPA system usually has a low fee of 0.5% and allows for transfers with no additional cost. In contrast, if you use a credit card, the fee rises to 2%. These are the Binance fees for buying and selling that you must consider to make an informed decision.
#CryptoFees101 Optimizing the use of cryptocurrencies to avoid trading fees is key to making the most of these digital assets. An effective strategy is to use platforms that offer commission-free trading or very low fees. You can also take advantage of loyalty programs or discounts for using the exchange's native tokens. Another option is to make direct exchanges between people (P2P), which allows for negotiating better conditions without intermediaries. Additionally, it's advisable to trade during low demand periods to avoid extra fees due to network congestion. Using stablecoins can also help reduce the need for frequent conversions. With good planning, it is possible to minimize costs and make more efficient and profitable use of cryptocurrencies.