Binance Us Buy With Credit Card

Binance Fees: A Full Breakdown and How It Compares

Bangkok, Thailand - 1 July 2021: Cryptocurrency on Binance trading app, Bitcoin BTC with altcoin digital coin crypto currency, BNB, Ethereum, Dogecoin, Cardano, defi p2p decentralized fintech market.

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Binance has positioned itself equally a leader among cryptocurrency trading platforms around the globe, with the aim of making it piece of cake for both beginners and experts to merchandise crypto while also enjoying competitive rates.

Like any trading platform, Binance charges fees for sure trades and services. Understanding the Binance platform and its fee construction helps you go on costs down and so more of your investment goes into your wallet. Keep reading to larn more than.


See: 5 Things You Must Do When Your Savings Accomplish $50,000

What Is Binance?

Binance is a crypto-to-crypto commutation service that got its start in 2017 in Hong Kong. It has since grown into 1 of the world’s almost popular crypto exchanges. In addition to trading, Binance offers savings options, the Binance Smart Pool for miners, the Binance Visa card, crypto loans and more.

Binance’s U.S. platform, Binance.US, was launched in 2019 and has its own schedule of fees. Information technology’s bachelor for users in every state except Hawaii, New York, Texas and Vermont.

Binance allows trades, deposits and withdrawals in almost 200 types of crypto, including:

  • Bitcoin Cash (BCH)
  • Binance Coin (BNB)
  • Binance USD (BUSD)
  • Tether (USDT)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Nano (NANO)

Binance Fees

Binance offers some of the lowest fees in the crypto exchange market, making it a favorite among traders. Here’south a quick rundown of some of the fees you might face up.

Purchase Fees

If you choose to buy your cryptocurrencies with a debit or credit card, you tin look to pay up to three.75% in fees. Because of these fees, you’re better off using other payment methods.

Wire transfers, on the other paw, come with no transaction fee only are not available everywhere. If your location does support wire transfers, you can utilise them to avoid paying carte fees.

Deposit Fees

There are no fees when depositing crypto assets on Binance with bitcoin (BTC), tether (USDT) and ethereum (ETH). Y’all’ll starting time need to exchange your fiat for crypto and then brand your deposit.

Trading Fees

Binance charges a 0.10% fee for trading on the platform besides as a 0.50% fee for Instant Purchase/Sell, so your actual fee amount volition depend on the amount of the trade. The higher the transaction, the higher the fee. Ane way to lower your trading fee is to go along some Binance Coin in your account at all times so your fees can exist taken from that. Doing this fetches y’all a 25% discount on all trading fees.

Withdrawal Fees

Fees are likewise incurred based on the type of crypto you are withdrawing. These fees change with the market place’s condition, making it difficult to know what y’all owe until y’all’re set to withdraw. Exist sure to check the Binance.US website, which provides upward-to-date data for each type of cryptocurrency.

There are ways to lower withdrawal fees, and it starts with understanding that the fees are based on the type of crypto asset you want to withdraw. Some assets charge higher rates than others, so reducing withdrawal fees tin be as simple equally changing the coin.

Before you begin your withdrawal, bank check the rates on the coin you plan to request. For example, if the type of asset you lot were about to request has a loftier fee, consider trading and converting to Bitcoin or Ethereum first. You lot tin can too cull a less expensive crypto.

Nether most circumstances, taking the fourth dimension to compare withdrawal rates can make a meaning bear upon on the total amount of fees you pay.

Maker or Taker

When you check Binance fee schedule, you’ll notice that different fees are charged depending on whether you’re a “maker” or a “taker.”

Co-ordinate to the Binance website, maker trades happen when you place an gild that goes on the order book partially or fully, such every bit a limit order placed via the trading screen. Any subsequent trades coming from that guild will be maker trades. The proper noun is based on the fact that these orders add together volume to the social club book, helping to “make” the marketplace.

Taker trades occur on an order that trades immediately before going on the order book, regardless of whether you lot partially or fully fulfill an social club. These trades “take” volume off of the club volume.

How Binance Fees Compare to Other Exchanges

Comparison the fees at unlike crypto exchanges is tricky because they don’t all accept the same fee structures or bargain in the same coins, but it’southward even so a proficient idea to familiarize yourself with some of the private features.

Here’due south a quick wait at some of the fees you might face at a few of the leading exchanges, and how they compare to Binance.

Commutation Fee Details
Binance.US – 0.10% trading fee
– 0.50% Instant Purchase/Sell fee
– 25% discount if using Binance coin
Gemini – 0.50% convenience fee
– $0.99 to $2.99 transaction fee
– 1.49% transaction fee for trades over $200
Bittrex – 0.00%-0.35% maker/taker fees
Coinbase – 0.50% spread
– Trading fee between ane.49% and iii.99% — or $0.99 to $two.99 flat fee
– 2.49% apartment fee on transactions made with other cryptos
– 2% fee for credit transaction
CEX.IO – 0%-0.25% maker/taker fees
– Deposit/withdrawal fees up to 3.99%

GOBankingRates’ Crypto Guides

  • What Is Cardano? (ADA)
  • What Is Bitcoin Cash? (BCH)
  • What Is Chainlink? (LINK)
  • What Is Dogecoin? (DOGE)
  • What Is Litecoin? (LTC)
  • What Is Polkadot? (DOT)
  • What Is Ripple? (XRP)
  • What Is Stellar? (XLM)
  • What Is Tether? (USDT)

Cynthia Measom contributed to the reporting for this commodity.


Information is authentic as of Nov. 11, 2022.


Editorial Note: This content is non provided past any entity covered in this article. Whatever opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, canonical or otherwise endorsed by any entity named in this article.

Source: https://www.gobankingrates.com/investing/crypto/binance-fees/

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