How does Binance calculate fees for crypto transactions?

a penguinwatcherMar 22, 2022 · 3 years ago3 answers

Can you explain how Binance calculates fees for cryptocurrency transactions? I'm curious about the factors that determine the fees and how they are calculated.

Binance

Crypto Fees

Transaction Fees

3 answers

Mar 22, 2022 · 3 years ago
Binance calculates fees for crypto transactions based on a tiered fee structure. The fees you pay depend on your 30-day trading volume and BNB balance. The higher your trading volume and BNB balance, the lower your fees. This encourages users to trade more and hold BNB tokens. You can find the complete fee schedule on Binance's website.
Mar 22, 2022 · 3 years ago
When calculating fees for crypto transactions, Binance takes into account the maker and taker fees. The maker fee is applied when you add liquidity to the market by placing a limit order that isn't immediately matched. The taker fee is applied when you remove liquidity from the market by placing an order that gets matched immediately. The specific fee rates vary depending on your trading volume and BNB balance.
Mar 22, 2022 · 3 years ago
At BYDFi, we calculate fees for crypto transactions in a similar way to Binance. We also have a tiered fee structure based on trading volume and BYD balance. The more you trade and hold BYD tokens, the lower your fees. Our fee schedule is transparent and can be found on our website. We strive to provide competitive fees to our users while maintaining a high level of security and reliability.