The undisputed leader of crypto platforms, Binance continues to stand out for its attractive fees and pricing flexibility. Whether you are a newbie investor or an experienced trader, it is important to know Binance's fee structure and the methods available to reduce them.
If you are interested in the Binance crypto platform, it is important to know the fees it charges.
As an added bonus, you can take advantage of a 10% lifetime discount on your fees by using the code SVULQ98B when registering 👇
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Fees for depositing and withdrawing euros
Binance offers several methods to deposit euros into your account, which can then be used to purchase cryptocurrencies
For deposits via SEPA bank transfer only incur a fixed fee of €1 regardless of the amount deposited. For example, a deposit of €1,000 will incur a fee of €1, thus crediting €999 to your Binance wallet. Deposits made by credit card (Visa and Mastercard) are subject to a fee of 2% of the amount.
So it is better to deposit funds to Binance via bank transfer if you want to reduce your fees.
Regarding withdrawals of euros, Binance applies a fixed fee of €1.
💡 Read our Binance review to find out everything about this exchange
Trading fees on Binance
Trading fees on Binance are among the most competitive on the market. The platform applies 2 types of fees for transactions on its spot market: maker and taker.
- Maker fees : They apply when you place an order that adds liquidity to the order book, i.e. an order that is not executed immediately (such as a “limit” type order;
- Taker fees : They apply when you place an order that removes liquidity from the order book, i.e. an order executed immediately (like a “market” type order).
Then, crypto trading fees follow a structure based on your 30-day trading volume, the amount of BNB tokens you hold, and the pair you are trading. Here are the details for a standard user (VIP 0):
Standard fees for classic pairs:
- Maker/Taker: 0.1000%
- Using BNB to pay fees (-25%): 0.0750%
Fees for pairs involving USDC:
- Maker / Taker: 0.1000% / 0.0950%
- Using BNB to pay fees (-25%): 0.07125%
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Binance VIP Program
The Binance VIP program is designed for active traders so they can reduce their fees. On Binance, there are 9 levels of VIP, which can be obtained depending on the trading volume carried out over 30 days and the number of BNB held.
Here are the details of the conditions for obtaining Binance VIP levels and their benefits:
| Level | 30-day trading volume (USD) | BNB balance | Maker / Taker | Maker / Taker (with BNB) |
| Standard user | < 1,000,000 USD | ≥ 0 BNB | 0.1000% / 0.1000% | 0.0750% / 0.0750% |
| VIP 1 | ≥1,000,000 USD | ≥ 25 BNB | 0.0900% / 0.1000% | 0.0675% / 0.0750% |
| VIP 2 | ≥ $5,000,000 | ≥ 100 BNB | 0.0800% / 0.1000% | 0.0600% / 0.0750% |
| VIP 3 | ≥20,000,000 USD | ≥250 BNB | 0.0400% / 0.0600% | 0.0300% / 0.0450% |
| VIP 4 | ≥75,000,000 USD | ≥500 BNB | 0.0400% / 0.0520% | 0.0300% / 0.0390% |
| VIP5 | ≥150,000,000 USD | ≥ 1,000 BNB | 0.0250% / 0.0310% | 0.01875% / 0.02350% |
| VIP 6 | ≥ 400,000,000 USD | ≥ 1,750 BNB | 0.0200% / 0.0290% | 0.0150% / 0.02175% |
| VIP 7 | ≥ 800,000,000 USD | ≥ 3,000 BNB | 0.0190% / 0.0280% | 0.01425% / 0.0210% |
| VIP 8 | ≥2,000,000,000 USD | ≥4,500 BNB | 0.0160% / 0.0250% | 0.0120% / 0.01875% |
| VIP 9 | ≥ 4,000,000,000 USD | ≥5,500 BNB | 0.0110% / 0.0230% | 0.008250% / 0.017250% |
By combining the VIP program with the use of BNB to pay your fees, it is possible to achieve substantial savings.
Fees for depositing and withdrawing cryptocurrencies
Cryptocurrency deposits on Binance are free, regardless of the amount and asset.
However, cryptocurrency withdrawals incur varying fees depending on the blockchain used. In addition, these fees evolve according to network congestion in real time. For example, if the Ethereum blockchain is congested when you want to withdraw ETH, the fees will be higher. Binance regularly adjusts these fees to reflect actual costs on the relevant blockchains.
In addition, for a cryptocurrency that is available on several networks, like ETH, the withdrawal fees will be different depending on the network selected. In the example below, withdrawing ETH to Ethereum incurs a fee of 0.0015 ETH, while withdrawing to Layer 2 Base incurs a fee of 0.00003 ETH.
Binance’s special “0 fees” promotions
Binance regularly offers “0 fee” promotions (often only for Maker orders) on certain trading pairs or during special events. These promotions are temporary and may concern specific pairs or new listed cryptocurrencies.
At the time of writing, trading certain stablecoins is free of fees (Maker and Taker): FDUSDT/USDT, AEUR/USDT, EURI/USDT, FDUSD/USDC, TUSD/USDT, USDC/USDT and USDP/USDT .
Additionally, many cryptocurrency pairs including FDUSD are also exempt from fees on Maker orders, such as BTC/FDUSD, ETH/FDUSD, AAVE/FDUSD, AVAX/FDUSD, DOGE/FDUSD and many others. others.
👉 Find details of Binance promotions on its fees
Conclusion: Tips to reduce your fees on Binance
Binance is already one of the most competitive platforms when it comes to fees, but by combining best practices you can maximize your savings. Here are all the tips to keep your costs to a minimum:
- Use special promotions, like 0-fee FDUSD pairs;
- Sign up on Binance with code SVULQ98B for a lifetime 10% discount on your fees 👇
10% off your Binance fees with code SVULQ98B
- Deposit euros with a transfer (only €1 fee) instead of a bank card;
- Hold BNB to benefit from a 25% reduction on your fees;
- Favor maker type orders, such as “limit” orders.
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Investments in cryptocurrencies are risky. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your capacity to lose part of this savings. Do not invest if you are not prepared to lose all or part of your capital
Publishing Director of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have accumulated a vast knowledge of Web3 and I strive to share high-quality content to democratize this sector to the general public. Thanks to a dedicated and passionate team, Cryptoast has become an essential reference, providing in-depth analyzes and relevant information for all enthusiasts and curious people in the world of cryptocurrencies and Web3.
Clement Wardzala
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