Binance Fees
Binance undoubtedly is one of the most trusted Exchange available globally. In fact, it’s the favorite exchange for Pakistani investors who love it for its credibility, extensive trading pairs, and low fees.
In this article, we’ll do an in-depth overview of Binance Trading fees for different trading options. So, if you are interested in knowing about the fee structure of the Exchange, stick with us and read this article till the end.
Since 2021, Coin Labs have been assigned a fee discount code from Binance. Thus, if you sign up for Binance through Coin Labs, you can benefit from the fee discount and participate in the bonus event earning up to $500.
Deposit & Withdrawal Fees
Binance has zero deposit fee no matter what cryptocurrency you want to deposit including Bitcoin to Ethereum, Dogecoin, 1Inch, UNI, CAKE, Aptos and more. However, for withdrawal Binance has a complicated fee structure and it varies from network to network and even from coins to coins.
For each withdrawal there are two fee payments that a user must pay in order to relocate their funds: flat fee and “Blockchain fee”. The flat fee on each transaction remains same, however due to network conjunction Blockchain validation fee can vary. Both fees are merged into a single collective fee known as “Withdrawal Fee”.
Apart from the withdrawal fee, there is also a minimum limit for withdrawal which varies depending upon the currency you are withdrawing. However, there is no limit on how much you can deposit. Users are free to deposit as low as $10 into their Binance account.
Below we have listed the Binance withdrawal fee structure for Top #5 Crypto Assets to give you an overview of how it works.
| Token Name | Networks | Minimuim Withdrawal Limit | Withdrawal Fee Network/Network |
| Ethereum | BNB Smart Chain (BEP20)/Ethereum (ERC20)/Arbitrum One/ BNB Beacon Chain (BEP2)/Optimism | 0.00011/ 0.0098/ 0.0008/0.00016/0.001 | 0.000056/ 0.0012/ 0.00035/0.000082/ 0.00035 |
| BNB | BNB Smart Chain (BEP20)/ BNB Beacon Chain//Ethereum (ERC20) | 0.01/ 0.01/ 0.012 | 0.0005/ 0.0005/ 0 |
| Solana | BNB Smart Chain (BEP20)/ Solana | 0.008/ 0.02 | 0.004/ 0.008 |
| Polkadot (DOT) | BNB Smart Chain (BEP20)/ Polkadot/BNB Beacon Chain (BEP2) | 0.028/ 1.5/ 0.048 | 0.014/ 0.08/ 0.024 |
| Cardano (ADA) | BNB Smart Chain (BEP20)/ Cardano/BNB Beacon Chain(BEP2) | 0.5/ 10/ 0.8 | 0.25/ 0.8/ 0.4 |
Note: In the above table we have breakdown network and fee structure for each network with “/” in a respective manner so you can easily understand.
Spot & Derivatives Fees
Many Binancians don’t actually know, but Binance trading fees vary from Trading pairs to your account trading level and even what coins you are using to cover your fee expenses for both Spot and Derivatives trading. Let’s have a look at the fee structure for Spot and Future Trading.
Spot Trading Fees
For spot traders who want to trade BTC, Binance is highly recommended because it offers zero trading fee for BTC/TUSD pair in the spot section. However, for Altcoins and other BTC pairs there are minimal trading fees which vary depending upon your account trading volume. The Exchange has broken down the spot trading fee in 5 different levels. Although Binance has in total 10 account levels including “Regular level”, fee structure benefits are similar from level 5 to 10.
1. Regular Users Fee
Regular users are first level, also known as Basic account level, where makers and taker fee is 0.1% flat. But if you use BNB to cover your fee expenses, you can get a 25% discount and instead of paying 0.1%, you’ll pay 0.075%.
2. VIP 1
VIP 1 is second level and it has some requirements. In order to get this level, traders must have more than 25BNB in account or more than $1,000,000 BUSD in trading volume. Second level users are required to pay 0.09% Maker fee and taker fee of 0.1% for spot trading. If you are using BNB to cover expenses then the fee will be reduced to 0.0675% for Make and 0.0750% for takers in spot trading.
3. VIP 2
It is a third level and in order to get to this level traders must have 100 BNB in their account balance or more than 5,000,000 BUSD in trading volume. This level lets users enjoy 0.08% flat fee as a maker while the taker fee remains the same 0.1%. With BNB discount, traders can enjoy discounts on fee up to 0.06% for Makers and 0.075% for takers.
4. VIP 3
Level 3 users are required to have 250 BNB in their account balance or a trading volume of more than 20,000,000 BUSD in spot trading. Here, the takers fee is 0.07% without BNB discount and makers fee remains the same as it was before for previous levels. However, with BNB discounts, the maker and taker fees reduce to 0.0525% and 0.075%, respectively.
5. VIP 4
VIP 4 is a fifth account level where users can enjoy trading fees as low as 0.015% for makers and 0.030% for takers. The minimum requirements for Binancians to achieve this level are 500 BNB or over 100,000,000 BUSD in trading volume.
Futures Trading Fees
The future fee structure of the platform is pretty much similar to Spot trading. Binance is actually known for lowest trading fees in future trading especially with BUSD pairs. For regular users Future Trading fee on the exchange is as low as 0.012% for Makers and 0.030% for Takers. If BNB is used as an asset to cover fees expenses you can reduce your BUSD trading pair fee to almost 0.0108% for Makers and 0.027% for Takers.
Keep in mind this fee structure is for regular users and doesn’t require any minimum trading volume or BNB holdings. The level 5 users can enjoy up to -0.010% fee discount as a maker while the taker fee for level 5 is as low as 0.0207%. The minimum requirements for level 5 are similar to spot.
NFT Fees
Binance has no fee for NFTs listing on auction except the gas fee that a user must pay and it goes to the network to reward miners/stakers and more. However, when it comes to selling NFTs on Binance there is a flat fee of 1% that will be applied on the sale price of each specific NFTs.
Apart from this flat fee, there is also a royalty fee that varies from 0 to 10% and can be checked on each NFT detail page. This fee goes directly to the original creator of the NFT to support his/her efforts.
Leverage Fees
Leverage fees varies depending upon the type of trading an investor is doing. For spot traders there is no leverage trading except the one that is defined above in Spot Trading fee section. However, for Future trading leverage fees can vary depending upon the funding rate of associated tokens. If a token has a negative funding rate and you open a long position, then as part of leverage fee compensation you will be rewarded.
But when it comes to subscription and redemption then there is a flat leverage fee of 0.1% charged per each redemption or subscription.
Margin Borrow Interest
Margin borrow interest rate on Binance varies depending upon the asset you are borrowing and what level account you have. For more information about the Margine and Borrow interest rates on each specific cryptocurrency you can visit the official website Margin Fee Page.
Binance Fees Discount
By Applying Coin-Labs Promo Code while opening an account on Binance you can get up to a $100 free discount on Trading Fee.
FAQs
What are Binance fees?
Binance fees refer to the transaction charges charged by platform to support the team behind the platform and improve overall users trading experience.
What fees does Binance charge?
It charges a fixed flat and a blockchain fee for each transaction. The fee varies according to the type of trade undertaken. For example, the fee will be different for Futures and spot trading both.
How much are Binance fees?
Binance fees depend on the following factors:● The type of trades conducted● Trader’s level● Number of BNB tokens held
