#CryptoFees101 What are maker/taker fees, gas fees, and withdrawal costs?

Maker/Taker Fees The Cost of Trading?

These are the commissions you pay to Binance for each trade you make. They are not fixed; they depend on how you trade.

* Taker Fee: The Fee for the Impatient

• When do you pay it? You pay it when your order is executed immediately. This typically happens when you use a market order.

• This is the highest fee.

* Maker Fee: The Fee for the Strategist

• When do you pay it? You pay it when your order does NOT execute immediately but stays on the order book waiting for the price to reach it. This happens when you use a limit order.

• This is the lowest fee.

* Gas Fees: The Cost of Using the Blockchain

This is a point that confuses many. Gas fees are NOT from Binance.

• What are they? They are the commissions you pay directly to the network of a cryptocurrency (for example, to Ethereum validators) for processing your transaction and recording it on the blockchain.

* Withdrawal Fees: The Exit Toll

This is the fee that Binance specifically charges you for processing your withdrawal request.

• What is it? It is a fixed fee per transaction charged by the exchange to cover its operating costs and the gas fee of the transaction that they will pay on your behalf.