why does binance charge so much

why does binance charge so much?

Trading Fees Binance charges a 0.1% fee for trading on the platform as well as a 0.5% fee for Instant Buy/Sell, so your actual fee amount will depend on the amount of the trade. The higher the transaction, the higher the fee.2022年3月21日

Similarly,How do you avoid fees on Binance?

Another way to further reduce your trading fees is to become a VIP. Binance offers 10 different VIP levels (VIP 0 – VIP 9), calculated based on your 30-day trading volume (equivalent in Bitcoin) and average BNB balance over the same period.

Regarding this,What fees does Binance charge?

Binance.US Compared to Others

Binance.US
Coins 80+ cryptocurrencies
Fees 0.1% trading fee; Can get a 25% discount on your fee if you hold Binance coin
Wallet storage Keep coins in Binance.US account or transfer to your own wallet
Minimum Trade $10

Then,Why is Binance Bitcoin transfer fee so high?

Binance must pay these fees to miners to ensure that transactions are processed. The fee amount is based on an estimate of the network transaction fees and can fluctuate without notice due to factors such as network congestion.

Keeping this in consideration,Are fees cheaper on Binance?

Binance can lower your costs significantly, with an average of 0.1% fee per transaction (or less). If you are an active trader, Binance offers some of the lowest fee trades on the market.

Related Question Answers Found

Is Binance cheaper than Coinbase?

Although U.S.-based users will pay slightly more on Binance.US, it’s still much cheaper than using Coinbase. On average, you’ll pay 0.50% per Coinbase transaction plus extra convenience charges based on your payment method, so you might pay up to 4% per transaction.

Which Bitcoin exchange has lowest fees?

Compare the Best Cryptocurrency Exchanges

Company Transaction Fees Minimum Deposit or Purchase
Coinbase Best Overall and Best for Beginners 0% to 0.60% $2
Crypto.com Best Mobile App 0.04% to 0.4% $1
Bisq Best Decentralized Exchange 0.1% to 0.70% Not disclosed
BitMart Best for Altcoins 0.045% to 0.25% $30 for Bitmart purchases

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Why is Binance P2P more expensive?

In general, P2P exchange comes with very high spreads because of the limited volume. P2P exchange is for people finding it hard to purchase crypto in the traditional way (bank transfers, credit card). Also, if you have money in an odd ewallet it might be worth it.

How do I sell less than 10 on a Binance?

Every trading platform has minimum trading amount criteria. On Binance you have to trade minimum 10 $. If your Bitcoin value is less than 10 $ then you can’t trade it. You have to wait your BTC value to reach till 10 $ to sell it.

Can I trust Binance?

Is Binance Safe? Binance is considered a safe exchange that allows user account protection via the use of Two Factor Authentication (2FA).

Does Binance charge fees for converting coins?

Zero Fees We don’t charge a single trading fee from any trade you conduct on Binance Convert. Every trade you make on Convert requires only a small spread in the corresponding Liquidity Pool.

Which is better Binance or WazirX?

WazirX vs Binance – Mobile App When looking at the best crypto app debate, Binance is yet again the clear winner. Binance’s app is one of the most sophisticated apps out there. It allows users to do everything they could normally do while logged in from a browser. WazirX’s mobile app is also promising.

What is the minimum trade on Binance?

Trading Rules

Pair Minimum Trade Amount Minimum Order Size
LRC/BTC 1 LRC 0.0001 BTC
POLY/BTC 1 POLY 0.0001 BTC
MATIC/BTC 0.1 MATIC 0.0001 BTC
DOT/BTC 0.01 DOT 0.0001 BTC

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