- Created: 24-01-22
- Last Login: 26-01-22
Description: How to Calculate Binance Fees? Binance Fees Explained. Binance’s fee structure might look a bit complex to beginners at first. But it is actually very easy to understand how Binance fees work and calculate Binance fees. Binance has a simple trading fee structure with fees starting from 0.1% for spot markets. There are also various other markets, products and types of trading activities you can engage in on Binance such as futures markets, leveraged tokens and margin trading. Each comes with a different fee structure. So, if you do more than just trade on spot markets on Binance, you should know about these fees too. In this guide, I’ll give you an overview of Binance fees and show you how to calculate and reduce Binance fees. Binance spot fees. The table below shows the trading fee that you will be charged when you trade on spot markets depending on your trading volume in the last 30 days: 30d Trade Volume (BUSD) &/or BNB Balance Maker Taker < 1,000,000 BUSD or ≥ 0 BNB 0.10% 0.10% ≥ 1,000,000 BUSD & ≥ 25 BNB 0.09% 0.10% ≥ 5,000,000 BUSD & ≥ 100 BNB 0.08% 0.10% Well, what do these rates exactly mean? How can you calculate the fee you will pay when you make a trade? Even though understanding and calculating Binance fees are not a big deal for most traders, it might be a bit confusing for especially beginners. To calculate the fee you’ll pay, you should first know your trading volume in the last 30 days, which you can check out on this page if you have a Binance account. For example, my trading volume in the spot markets in the last 30 days is below 1M BUSD as you can see in the image below, so I will be charged a 0.10% trading fee for both maker and taker orders as a VIP 0 user. To upgrade to VIP 1 level, you need to trade 1M BUSD worth of crypto on the spot exchange or 15M BUSD on the futures exchange. Notice that you also need BNB (at least 25 BNB) in your wallet besides adequate trading volume to level up and enjoy lower trading fees. How to calculate Binance spot fees? Now let’s move on to Binance fee calculation. It’s quite simple. Let’s say you have 200 USDT in your wallet and you will buy BTC, BNB or any other coin. When you make a trade with 200 USDT, 0.2 USDT will be charged as a trading fee. The calculation is simple: 200/100×0.10. You should first divide your order size (total) by 100 and then multiply it by your fee rate which is 0.10% for VIP 0 users. So, if you buy Bitcoin with 200 USDT, you will basically get $199.8 worth of Bitcoin. To calculate these fees, you can also use our Binance fee calculator: Luckily, you can pay much lower fees than 0.1% and you don’t need a trading volume of more than 1M BUSD to do that. You can reduce Binance fees from 0.1% to 0.06% by opening a Binance account with a 20% fee discount using the referral ID ”WRYOO8BZ” and BNB to pay for fees. How to reduce Binance spot fees? To reduce Binance spot fees, you can open a Binance account with a 20% fee discount by clicking this link or the button below. You will pay a 0.08% trading fee instead of the standard 0.1%. To open your Binance account with a 20% fee discount, click the button below: To get a 20% fee discount on Binance, you can also directly enter the code "WRYOO8BZ" in the referral ID field when opening your Binance account. If you already have a Binance account, you can hold BNB in your account to pay fees in BNB, which will give you a 25% fee discount. You can also enter the code ”10indirim” when opening your Futures account in your current Binance account. After opening a Binance account with a 20% fee discount, to lower fees further, you should hold Binance Coin (BNB) in your wallet to pay fees in BNB and get a 25% fee discount. When you hold BNB in your Binance account, Binance charges BNB as a trading fee when you make a trade and gives you a fee discount. There is no minimum amount of BNB you should hold to receive a 25% fee discount. As long as there is enough BNB in your wallet to pay for fees, you’ll continue paying 25% lower fees. By following these steps, you can reduce Binance fees by 40% (20%+25%), and your new fee structure will be: 30d Trade Volume (BUSD) &/or BNB Balance Maker Taker < 1,000,000 BUSD or ≥ 0 BNB 0.06% 0.06% ≥ 1,000,000 BUSD & ≥ 25 BNB 0.054% 0.06% Binance Futures fees. Binance Futures consists of USDT-margined and coin-margined futures. And each one has a different fee structure. Let’s first look at the USDT-margined futures trading fees: 30d Trade Volume (BUSD) or/& BNB Balance Maker Taker < 15,000,000 BUSD or ≥ 0 BNB 0.0200% 0.0400% ≥ 15,000,000 BUSD and ≥ 25 BNB 0.0160% 0.0400% ≥ 50,000,000 BUSD and ≥ 100 BNB 0.0140% 0.0350% ≥ 100,000,000 BUSD and ≥ 250 BNB 0.0120% 0.0320% As you can see in the table above, users who’ve just started to trade USDT-margined pairs on Binance Futures pay 0.02% and 0.04% trading fees for their maker and taker orders respectively. So, if your trading volume is below 15M BUSD, you’ll be charged a 0.02% or 0.04% trading fee when you open and close positions. How to calculate Binance Futures fees? Let’s say you’ve transferred 1,000 USDT to your USDT-M futures wallet and will open a long or short position with 5x leverage. As your position size will be 5,000 USDT with 5x leverage, you can calculate the fee you’ll pay by dividing 5,000 by 100 and then multiplying it by 0.02 or 0.04 (5000/100×0.02). If it is a maker order, you’ll pay a fee of 1 USDT when you open a 5,000 USDT position. If you want to pay lower, you need at least 15M BUSD trading volume in the futures markets. As your size will be shown in BTC or any other coin you trade when opening/closing positions, you should first multiply your position size with your entry/close price. After that, you can calculate the trading fee that will be paid in USDT or BUSD. But again, kreditka.pw you can reduce Binance Futures fees without having such a high trading volume. You can get a 10%+10% fee discount by opening your Futures account with the code ”10indirim” and transferring BNB to your USDs-M Futures wallet. Now let’s look at Binance’s COIN-margined Futures trading fees: 30d Trade Volume (BUSD) or/& BNB Balance Maker Taker < 15,000,000 BUSD or ≥ 0 BNB 0.0100% 0.0500% ≥ 15,000,000 BUSD and ≥ 25 BNB 0.0080% 0.0450% ≥ 50,000,000 BUSD and ≥ 100 BNB 0.0050% 0.0400% ≥ 100,000,000 BUSD and ≥ 250 BNB 0.0030% 0.0300% Let’s say you want to trade the BTC/USD pair and open a 5 BTC position, you can calculate the trading fee you’ll pay by dividing 5 by 100 and then multiplying it by 0.01 or 0.05. If it is a maker order you’ll pay a trading fee of 0.0005 BTC (5/100×0.01). But, when you trade coin-margined pairs on Binance, you buy/sell contracts and each contract represents different values like 100 USD depending on the pair. So the calculation is a bit different than USDT and BUSD margined pairs. For example, if you will trade the BTC/USD pair and buy 5 contracts, your position size will be 500 USD as each contract represents 100 USD. To calculate the trading fee that will be charged when you open or close a position, first divide your position size (in USD) by entry/close price. And you’ll get your position size in the coin you trade. Divide it by 100 and then multiply it by the fee rate. Calculating USDT-margined and coin-margined futures fees might be a bit confusing for beginners which is quite normal. You can calculate futures fees as well as funding using our Binance Futures fee calculator and learn more about how to do it step by step. For more detailed information about the fee calculation and funding, check out our Binance Futures tutorial. How to reduce Binance Futures fees. When you open your Futures account on Binance, you can input the code ”10indirim” and receive a 10% fee discount. If you’ve already opened your Binance Futures account, you can still get a 10% trading fee discount. Just transfer some BNB to your USDT-M futures wallet to pay fees in BNB. By paying fees in BNB, you can get a 10% fee discount on USDT-margined futures markets. If you trade coin-margined contracts, you can’t pay fees in BNB. If you’ve opened your Futures account with the code ”10indirim” and transferred BNB to your USDT-M wallet, you will pay. 20% lower trading fees. To learn how to trade on Binance Futures and more about fees, you can refer to our guide below:
Publish Date: 26-01-22
Description: Binance Won't Shut Down Japan Operations, But Must Become Compliant. The Japanese Financial Services Agency (FSA) has issued a warning to the Hong-Kong based Binance cryptocurrency exchange for operating in the country without proper registration and licensure. The warning is the latest action in an effort to ramp up regulatory enforcement on cryptocurrency exchanges in the country following the massive Coincheck hack. In a Reuters report, an FSA official said that no specific deadline had been given to Binance to become compliant. However, Binance futures trade bitcoin coin crypto Chief Executive Changpeng Zhao is wasting no time in making sure that business continues without interruption. Upon receiving the warning, Zhao Tweeted that "our lawyers called JFSA immediately, and will find a solution." "Protecting user interests is our top priority," he added. We received a simple letter from JFSA about an hour ago. Our lawyers called JFSA immediately, and will find a solution. Protecting user interests is our top priority. — CZ (not giving crypto away) (@cz_binance) March 23, 2018. Japanese news source Nikkei originally reported that Binance was told to shut down by the FSA, but Zhao denied the claims, blasting the news source on Twitter for "irresponsible journalism." The FSA has been responsible for enforcing the guidelines outlined in Japan’s Virtual Currency Act, which was passed in April of 2017. The act provided a set of standards that cryptocurrency exchanges needed to meet in order to obtain licenses to operate legally within the country; the first round of licenses were granted in Q4 of 2017. Zhao on Twitter: When the Going Gets Tough, "The Tough Gets Going" In spite of the difficulties with the regulator, Binance has announced that it has begun listing WanCoin trading pairs against BNB, BTC, and Binance futures trade bitcoin coin crypto ETH. Binance also recently announced the upcoming launch of a decentralized exchange on which "anybody can list any coin," said Zhao. No need to worry. Some negative news often turn out to be positive in the long term. Chinese have a proverb for kreditka.pw this. New (often better) opportunities always emerge during times of change. — CZ (not giving crypto away) (@cz_binance) March 23, 2018. The Japanese Financial Services Agency (FSA) has issued a warning to the Hong-Kong based Binance cryptocurrency exchange for operating in the country without proper registration and licensure. The warning is the latest action in an effort to ramp up regulatory enforcement on cryptocurrency exchanges in the country following the massive Coincheck hack. In a Reuters report, an FSA official said that no specific deadline had been given to Binance to become compliant. However, Binance Chief Executive Changpeng Zhao is wasting no time in making sure that business continues without interruption. Upon receiving the warning, Zhao Tweeted that "our lawyers called JFSA immediately, and will find a solution." "Protecting user interests is our top priority," he added.
Publish Date: 24-01-22