does binance have fees

Binance charges fees for spot trading, margin trading, futures trading, withdrawals, and other services, but it offers a BNB discount and referral bonuses that can reduce these costs.

Oct 27, 2024 at 02:43 am

Does Binance Have Fees?

Yes, Binance charges fees for certain transactions. Here is a detailed breakdown of the fees associated with Binance:

1. Trading Fees

• Spot Trading: 0.1% of the transaction value for both makers and takers (for most trading pairs).
• Margin Trading: 0.02% for makers and 0.04% for takers.
• Futures Trading: 0.02% for makers and 0.04% for takers.

2. Withdrawal Fees

The withdrawal fee for each cryptocurrency varies depending on the network congestion and transaction size. However, Binance offers free withdrawals for a limited number of coins each day.

3. Deposit Fees

Binance does not charge deposit fees for most cryptocurrencies. However, deposits via credit card or debit card may incur a fee of 1.8%.

4. Account Maintenance Fees

Binance does not charge any account maintenance fees.

5. P2P Trading Fees

For peer-to-peer (P2P) trading, Binance charges a maker fee of 0% and a taker fee of 0.1%.

6. Margin Interest Fees

For margin trading, Binance charges an interest rate on borrowed funds. The interest rate varies based on the cryptocurrency and the loan duration.

7. Spot Savings Interest Fees

Binance offers Spot Savings, which allows users to earn interest on their cryptocurrency holdings. The interest rates vary based on the cryptocurrency and the amount deposited.

8. Staking Fees

Binance offers staking services for several cryptocurrencies. The staking fee varies based on the cryptocurrency and the staking period.

9. BNB Discount

Binance users can save on trading fees by using the Binance Coin (BNB). Holding BNB in your Binance account provides a discount of up to 25% on all trading fees.

10. Referral Program

Binance has a referral program that allows users to earn a commission on trading fees from the users they refer. The commission rate varies from 10% to 40% depending on the tier level.