Crypto
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2 mins read
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April 03, 2023
Binance US Fees: A Detailed Guide
Here’s the full breakdown of all fees charged by Binance US
You can choose from numerous crypto platforms and exchanges in the US. What’s important is to evaluate how much and what kinds of fees they charge, so it doesn’t put a dent in your pocket when you buy Bitcoin or crypto every time.
One of the US exchanges, Binance US, charges high fees to its users. Here’s a quick and detailed breakdown of all the different types of fees charged by Kraken and alternatives you can choose from.
Account Fees
Binance US doesn’t charge any fee for creating an account.
Trading and Transaction Fees
Binance US charges a dynamic base fee when you use the ‘buy, sell, convert’ feature on its platform. Applicable for both transactions on mobile and web as well.
The dynamic fee is based on a combination of different components,
- Convenience fees
- Processing fees
- Spreads
- Market conditions such as volatility and liquidity
Whenever you place an order on Binance US, you will see your fee in the trade preview section. Here, you get an estimate of how much you are charged —the expected fee ranges as follows
Note - above section only includes trading and transaction fees and additionally excludes fiat deposits/withdrawal fees
On the Binance US Advanced Trade section, the fee component is standardized, depending upon the users’ trading volume. It doesn’t include spread fees as the orders are placed and matched directly with its order book.
- On Binance US, you can trade Bitcoin and Ethereum without zero fees.
The trading fee also varies based on how much BNB token you hold on the exchange
For BNB Holders
-
For market makers, the fee range starts from 0.3% (up to $10k monthly trading volume)
to 0.00% (+ $500M)
-
For takers, the fee range starts ranging from 0.45%(up to $10k trading volume)
to 0.0375% (+ $500M)
For non-BNB Holders
-
For market makers, the fee range starts from 0.4% (up to $10k monthly trading volume)
to 0.00% (+ $500M)
-
For takers, the fee range starts ranging from 0.6%(up to $10k trading volume)
to 0.05% (+ $500M)
Fiat Deposit and withdrawal fees
On Binance US, every payment method has its respective deposit and withdrawal fees and respective waiting time.
For quick transfers, you can use the following methods
Remember that the above charges are only for depositing fiat(USD).
For example, to buy crypto worth $100 via a Debit card, you will have to pay a 3.75% fee for depositing USD and an additional trading fee(1.5% fee) to purchase crypto.
Crypto Deposit and withdrawal fees
Binance US doesn’t charge additional deposit fees. For crypto withdrawals, you will have to pay standard network or withdrawal fees depending on where you are transferring your crypto from.
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Disclaimer - Please note that the information provided regarding various fees is sourced from official channels and is subject to change as per the evolving business requirements
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Kunal Shivalkar
Kunal is a crypto native marketer and content writer
