Binance is one of the most popular cryptocurrency exchanges in the world. With a trading fee of 0.1%, Binance is one of the few exchanges where users can enjoy very low trading fees.
If you regularly trade cryptocurrencies on Binance, you will pay large sums of fee in the long term.
But, in just two steps, you can get a 45% Binance fee discount and enjoy much lower trading fees on Binance.
How to reduce Binance fees by 40% (20+25%)?
If you trade cryptocurrencies on Binance, you can save significant amount of money in the long run by decreasing Binance fees further.
Current Binance trading fees can be seen in the table below. By following the two steps below, you can reduce Binance’s trading fee to 0.06% and even below.
| 30d Trade Volume (BTC) &/or BNB Balance | Maker | Taker |
| < 50 BTC or ≥ 0 BNB | 0.10% | 0.10% |
| ≥ 50 BTC & ≥ 50 BNB | 0.09% | 0.10% |
Step 1: Open your Binance account with a 20% fee discount
You should first open a Binance account by clicking this link or the button below to get a 20% fee discount.
If you already have a Binance account, you can enable the option to use BNB to pay for fees and receive a 25% fee discount.
You should always have some BNB in your account, otherwise fees can’t be deducted from your BNB balance when you make a trade.
To open a Binance account with a 20% fee discount, simply click the button above or use the referral ID ”WRYOO8BZ”.
Every time you trade on Binance, 20% of the trading fees you pay will be constantly sent back to your wallet, which you can check out in the referral page.
By opening a Binance account with a 20% fee discount, your new fee structure will look like this:
| 30d Trade Volume (BTC) &/or BNB Balance | Maker | Taker |
| < 50 BTC or ≥ 0 BNB | 0.08% | 0.08% |
| ≥ 50 BTC & ≥ 50 BNB | 0.072% | 0.08% |
Now you will be charged a 0.08% trading fee and even much lower (0.072%) depending on your trading volume. But don’t settle for less, it is possible to reduce Binance fees even further.
Step 2: Hold BNB in your Binance account
After opening your Binance account, you need to hold some Binance Coin (BNB) in your Binance account to receive a further trading fee discount.
How much BNB do you need for fees?
Well, it depends on your trading volume. There is no minimum amount of BNB you should hold to receive a 25% fee discount.
But, if you run out of your BNB balance as you make trades, the fee will be deducted from the coin you trade instead and you’ll not receive a 25% fee discount.
Let’s say you make a $1000 worth of trade each day and your monthly trading volume is $30,000. Then you pay $22,5 USD in fees in a month (30,000/100*0.075).
As you will also get trading fee kickbacks (20%), your actual trading fee will be 0.06% instead of 0.075%.
So, for a $30,000 worth of trading (buy & sell orders) in a month, you need $22,5 worth of BNB in your wallet to pay for fees using BNB.
As you hold BNB on your Binance account, when you trade cryptocurrencies, BNB token will be charged as fee automatically. In this way, you will get an extra 25% fee discount.
Make sure the option to pay fees in BNB is enabled on your Binance dashboard. It is enabled by default, but you can still check it.
Also, note that you will pay a much lower fee than 0.075% as you’ve opened your Binance account with a 20% fee discount.
With these two Binance fee discounts (20% + 25%), your new fee structure will be:
| 30d Trade Volume (BTC) &/or BNB Balance | Maker | Taker |
| < 50 BTC or ≥ 0 BNB | 0.06% | 0.06% |
| ≥ 50 BTC & ≥ 50 BNB | 0.054% | 0.06% |
In these two easy steps, you can lower Binance trading fee to 0.06% and 0.054%, and make significant gains as a trader by paying much lower fees on Binance.
To learn how to use Binance and deposit fiat currencies into your account, you can refer to our Binance tutorial.
If you want to trade Bitcoin and altcoins with up to 125x leverage on Binance, you can check out our Binance Futures tutorial.
