As one of the largest cryptocurrency exchanges in the world, Binance's fees are an unavoidable cost for users during the trading process. But did you know that by reasonably utilizing rules and tools, the potential savings on fees can be as high as 20% or even more? Whether you are a newcomer or a seasoned user with years of trading experience, there are exclusive strategies to help you "plug" the gap of capital loss. This article will explain how both new and old users can save on trading fees.
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OKX registration: https://www.okx.com/join/BITCOIN369 (click the link to register)
Binance registration: https://www.binance.com/join?ref=BITCOIN369
Domestic registration installation package download: https://96927.cc/
Are Binance fees too high? How can new and old users save or reduce fees?
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Explanation of Binance's fee structure
Basic rate differences:
Different trading types: Spot trading, margin trading, contract trading (USDT-based, coin-based), options trading, etc., have completely different fee structures. Typically, contract trading fees (especially Taker fees) may be higher than spot trading.
Different user levels: Binance's VIP level system directly affects fees. The rate for VIP 0 (regular users) is much higher than for VIP 8 or 9. New users default to VIP 0.
Maker and Taker distinction: Most trading types differentiate between Maker (placing orders, providing liquidity) and Taker (taking orders, consuming liquidity). Maker fees are usually significantly lower than Taker fees. Frequent market orders (Taker) incur higher costs.
High-frequency or small transactions amplify fee perception:
For high-frequency traders, even low individual fees can accumulate to a considerable amount.
When making small transactions, the fees can represent a very high proportion of the transaction principal, leading to the intuitive feeling of "a lot has been deducted."
Withdrawal fees:
When withdrawing cryptocurrency to an external wallet, on-chain blocks charge network miner fees. Fees can spike during network congestion for different coins, especially for ETH, BTC, etc. Users sometimes overlook withdrawal costs.
Binance fee structure diagram -
Saving fees as a new Binance user
As a new Binance user, fully utilizing the benefits and settings during the initial phase is crucial:
Benefits upon registration:
Referral rebates: The most important strategy! Be sure to register through a reliable old user's invitation link or enter an invitation code (e.g., XZLST5T9). This will last for a period (permanently), and it is the most direct way to reduce costs for new users in the early stages.
New user tasks/rewards: Completing simple identity verification (KYC), first deposit, first trade, and other tasks can often earn fee discount vouchers, BNB rewards, or trading experience bonuses.
New Binance users enter invitation codes to save on fees
Enable BNB fee discounts: A core essential!
Principle: In the account settings, enable the "Use BNB to pay fees" option. Once enabled, the system will automatically attempt to deduct fees using your held BNB when calculating fees.
Discount rate: Spot and margin trading usually enjoy a 10% fee discount (e.g., standard rate of 0.1%, using BNB reduces it to 0.075%). Contract trading also enjoys certain discounts (e.g., standard Taker rate of 0.04%, using BNB reduces it to 0.036%).
Operation: In the Binance App or web version, go to "Account" -> "Contract" -> toggle on "Use BNB to deduct trading fees." Ensure that there is a small amount of BNB balance in the account for deductions.
Using BNB to save on fees
Learn to become a Maker:
Understand the difference between Maker and Taker. Try to set limit orders in spot trading, which will only execute when the market price reaches your specified price. At this point, you act as a Maker and pay lower fees (e.g., 0.075% * 0.75 = 0.05625%, after using BNB).
Avoid frequently using market orders (Market Order), as they will always be Taker, incurring higher fees.
Be cautious with network selection for small withdrawals:
When making your first withdrawal, especially for small amounts, pay close attention to the miner fees of the target coin's network. Sometimes the fees may approach or even exceed the withdrawal amount.
Consider using networks with lower miner fees (e.g., for USDT, choose TRC20 instead of ERC20) and monitor real-time network congestion.
- Saving fees as an old Binance user
For old users with increasing trading volume, cost reduction strategies need to be more in-depth and long-term:
Strive to reach VIP levels: The core of long-term cost reduction!
Core indicators: VIP levels are determined by the combined total of spot trading volume + contract trading volume + asset balance over the past 30 days (specific weights refer to Binance's official VIP page).
How to upgrade?
Increase trading volume: Boost compliant spot or contract trading volume. Note that trading volume is calculated in both directions (buying + selling).
Increase asset holdings: Hold more mainstream assets like BTC, ETH, BNB, USDT, etc., in your Binance account (especially BNB, which sometimes has additional bonuses).
Lock BNB: Participate in BNB periodic locking activities; locked BNB usually has a higher weight or coefficient when calculating VIP asset balances.
Cost reduction effect: The fee reduction resulting from upgrading VIP levels is permanent and significant. For example, upgrading from VIP 0 (Maker 0.1% / Taker 0.1%) to VIP 1 (Maker 0.09% / Taker 0.1%), and then to VIP 3 (Maker 0.06% / Taker 0.07%), combined with BNB deductions, results in a huge fee advantage. VIP 5+ rates are highly competitive.
Continue using BNB deductions: Ensure this feature is always enabled, maintaining sufficient BNB balance in the account.
In-depth study of contract fee structures:
Contract trading (especially USDT-based) is the main battlefield for many active users, with a more complex Maker/Taker fee structure and significant differences across different VIP levels.
Strategies:
Aim to be a Maker as much as possible: Place limit orders in contract trading, providing liquidity and enjoying extremely low Maker fees (VIP 0 is 0.02%, VIP 3 is 0.014%, even lower with BNB).
Utilize funding fees to offset trading costs (advanced): For experienced users, when there are significant differences in funding rates, holding positions in a specific direction can generate funding fee income, indirectly compensating for trading costs (higher risk, requires in-depth research).
Participate in Launchpad/Launchpool/Earn:
Holding BNB or other designated tokens to participate in new coin issuance (Launchpad) or staking mining (Launchpool) often yields new token rewards. Selling these tokens can convert to additional income to cover part of the fee costs.
Deposit idle assets (USDT, BTC, ETH, BNB, etc.) into Binance Earn products like Binance Savings, liquidity mining, dual currency investment, etc., to earn interest income, indirectly offsetting fee expenditures.
Binance Launchpool
Large withdrawal planning:
Before making large withdrawals, check the real-time miner fees of various networks and choose a low-cost and secure network.
Consider withdrawing during non-congested periods (e.g., weekends, off-peak times) when fees are usually lower. Binance sometimes offers zero withdrawal fee promotions for specific networks.
Methods for old Binance accounts to receive rebates
For specific step-by-step instructions, see how new Binance accounts can activate fee rebates? Binance exchange rebate activation guide. (This method comes from the internet and is not personal opinion)
Summary
Regardless of the exchange, new users should lay a solid foundation: always use a referral code to register, utilize the platform's strategies to reduce fees, prioritize low-fee fiat channels, and learn to place limit orders as a Maker. Old users should focus on the long term: strive to reach VIP levels, continue using BNB, aim to be a Maker in contracts, actively use idle assets to earn income, and pay attention to official activities. For both new and old users, avoiding high-frequency small transactions, reducing unnecessary market orders, and third-party payment purchases are basic awareness.