How does Binance calculate transaction fees for cryptocurrency transactions?

1 answers

• SiddhardaDec 15, 2020 · 5 years ago
  Binance, one of the leading cryptocurrency exchanges, calculates transaction fees based on a few factors. The fees are determined by your trading volume over the last 30 days and whether you're a maker or a taker. Makers, who provide liquidity to the market, enjoy lower fees compared to takers, who take liquidity from the market. The fee structure is designed to incentivize market makers and encourage active trading. Additionally, Binance offers a discount if you use their native token, BNB, to pay for fees. So, the more you trade and the more you hold BNB, the lower your fees will be. Happy trading!
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