#CryptoFees101 When trading on Binance, it is essential to understand crypto fees or cryptocurrency commissions. These fees apply whenever you buy, sell, or transfer digital assets. On Binance, there are three main types of commissions:
1. Trading commission: It is a small percentage charged for each transaction. Binance uses a tiered system based on your trading volume, and if you use BNB (the Binance coin) to pay, you can receive discounts.
2. Withdrawal commission: Every time you transfer crypto to another wallet, Binance charges a fee based on the corresponding blockchain network. These fees vary depending on network congestion.
3. Hidden commissions: Although they are not direct fees, the spread (the difference between buying and selling prices) can also impact your profits.
Understanding these commissions allows you to trade more intelligently and minimize costs. Stay informed and maximize the value of each transaction
