Melinda Viapiano FAEr

#币圈翻车日记:我的2024坑爹时刻

$BTC 97000 alternating between falling into a pit and climbing up

#Crypto Market Carnival Binance Trading Rebate???!
How outrageous are the trading fees?
In the increasingly difficult environment to make money in Web3, more people are starting to pay attention to trading fees. Just how high are these previously overlooked fees? Let me do the math for you.
Taking 10,000 USDT as an example: the spot trading fee is 0.1% per transaction. The fee for one trade is 10000 * 0.1% = 10 USDT, and for buying and selling once each, it totals 20 USDT. Don’t underestimate this. If you trade once every 3 days, that’s 120 trades a year, and the fees would be 20 * 120 = 2400 USDT, accounting for 24% of the principal. If you trade once a week, that’s 50 trades a year, and the fees would still be 1000 USDT, accounting for 10% of the principal.
If your principal is 100,000 USDT, then by the end of the year, just in fees, you would lose 24,000 USDT, which amounts to the price of a Tesla over two years.
What about contracts? The fees will only be higher. Opening a position with 10x leverage on 10,000 USDT will incur a fee of principal * leverage * rate = 100 USDT (Taker rate 0.05%). Trading contracts will be even more frequent; if you trade once a day, in just 100 days, all of your principal will be eroded by fees. This is one of the reasons I do not recommend trading contracts; the fees are unbearable.
Based on your own principal and trading frequency, you can roughly calculate how much of the 1 billion USD profit that Binance makes in a year is contributed by you. The main fees are like a dull knife cutting flesh, slowly draining your principal, while you remain unaware. Only by calculating in detail can you realize how outrageous it is.
You only need to register a new account and undergo identity verification. You can ask family or trusted friends. If everyone around you has already registered, you can find an old account that hasn't traded for over six months and rebind the commission relationship through the invitation link. A 35% rebate will be settled once a month, transferred directly to you via UID.
Finally, don’t think it’s a hassle; this is a one-time effort. If you don’t take this money, it will be taken by the exchange. It’s like buying insurance; buying from the insurance company costs 10,000, but buying from a friend also costs 10,000, and they can give you a commission of 2000. That’s free money for you. Those who have activated the rebate can receive an extra paycheck every month, and it feels great.
Registration link 🔗https://safu.im/jNAynht0

What does it mean to cancel an account to receive commission?