Binance fees could seem overwhelming but it is cheap and easy to catch up. In this article, we will be looking closely into Binance trading fees, withdrawal fees, and so on.

Before jumping in, Binance is the largest cryptocurrency exchange with over 700 registered tokens. Created by Changpeng Zhao in 2017, having prior knowledge of high-frequency trading platforms, Zhao got Binance up and running within just six months.

Being a diverse platform, Binance is preferred among many and some of the most traded tokens on Binance are Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Tether (USDT), Lite Coin (LTC) and USD Coin (USD). Users looking forward to trade are to pay the following Binance fees:

  • Purchase Fees: collected while buying a digital asset.
  • Deposit Fees: collected while making deposit to cryptocurrency wallet.
  • Trading Fees: collected while selling a digital asset.
  • Withdrawal Fees: collected while withdrawing from cryptocurrency wallet.

Binance Fee Structure

Binance fees are calculated using a maker-taker rule and different rates are applicable on each. In the following sequence of transactions, Binance charges its respective fees:

Stage 1: Deposit

  • no fees are charged for crypto deposits.
  • 0% to 2% deposit fees are charged for fiat currency.

Stage 2: Trade

  • 0.0120% to 0.1% as Binance trading fee for spot and margin.
  • 0.0054% to 0.0450% trading fee on Futures.
  • 0.0% to 0.3% charges for options traders.
  • 0.1% to 0.9% platform fee for NFT trades.
  • 0.0120% to 0.1% charges for fiat trades.

Stage 3: Withdraw

  • 0.0% to 0.1% fee depending upon the fiat and cryptocurrencies.

Check out the withdrawal charges chart below for further details.

Note: All the rates mentioned above are subject to change based on market status.

Maker or Taker

The above charges are applicable as fees after the transaction is segregated into either “maker” or “taker”. When a user makes an order on the Binance platform, they are either adding volume to the market or reducing it. That is the simple formula of Maker and Taker, one side “makes” the volume and the other “takes” from it.

An order placed on Binance goes to the book and whether it is an instant transaction or a limit order, the queue is formed. Once it is done, your transaction gets its related fees added and the order is fulfilled.

Binance Deposit Fees: Explained

Binance provides a wide range of services and to avail most of them, you need to make a deposit first. Once trading is complete, you do not have the profits in the bank unless you withdraw from your wallet. Since both are highly essential, most organizations keep a low value in order to encourage high volumes.

What are Binance Deposit Fees?

Crypto deposits are free on Binance and fiat currency deposits have variable rates. Below, you can find a chart containing Binance Deposit Fee for fiat:

Fiat TokenPayment MethodDeposit Fee
Argentine Peso (ARS)Bank Transfer
Corporate Bank Transfer
United Arab Emirates dirham (AED)P2P Express
Bank Transfer (Al Salam Bank)
Bank Transfer
Online Banking
Australian Dollar (AUD)Buy Crypto with AUD2.00%
Brazilian Real (BRL)Bank Transfer (TED)
Bank Transfer (PIX)
Transferencia Bancária ou PIX
Corporate Bank Transfer (TED)
Corporate Bank Transfer (PIX)
Bahraini Dinar (BHD)Bank Card (BENEFIT)
Bank Transfer
Bank Transfer (Al Salam Bank)
Czech Koruny (CZK)Zen (corporate)
Colombian Pesoexchange-fiat-cop-w inswitch-ach
Euro (EUR)Bank Card (Visa)
Zen (corporate)
Bank Transfer (SEPA)
Open Banking (SEPA)
Bank Transfer (SEPA by PAYMONADE)
EURPaysafe (EURPS)Bank Transfer (SEPA)NA
Pound Sterling (GBP)Open Banking (SEPA)0.5GBP
Ghanaian cedi (GHS)P2P Express0
Hungarian Forint (HUF)Zen
Zen (corporate)
Japanese Yen (JPY)exchange-fiat-channel-name-SBI-corp
Bank Transfer (SBI)
Kuwaiti Dinar (KWD)Bank Transfer0
Mexican Peso (MXN)exchange-fiat-mxn-d-inswitch0
Nigerian Naira (NGN)Bank Transfer (Cashlink)0
New Zealand DollarP2P Express0
Oman Rial (OMR)Bank Transfer0
USD (USD)Bank Transfer (Al Salam Bank)
P2P Express

The rates of each currency are ever changing and it is suggested to check out the updated Binance Fiat Fee.

Binance Withdrawal Fees: Explained

Withdrawal costs are considered as a transactional cost for moving your funds from your cryptocurrency wallet to your bank account. The rates of charges are ever-changing due to factors like network congestion and market status. The amount you pay as withdrawal fees is also determined by the blockchain network you choose. Here is a detailed table based on withdrawal rates in early 2024:

TokenNetworkMinimum ValueWithdrawal Fee
1inch (1INCH)BNB Smart Chain (BEP20)
Ethereum (ERC20)
1000SATS Ordinals (1000 SATS)ORDI-BRC2025000050000
Adventure Gold (AGLD)Ethereum (ERC20)157.75
ATEM (ATEM)BNB Smart Chain (BEP20)
Ethereum (ERC20)
Audius (AUDIO)Ethereum (ERC20)10653 (AVAOLD)BNB Smart Chain (BEP20)
BNB Beacon Chain (BEP2)
Ethereum (ERC20)
Sleepless AI (AI)BNB Smart Chain (BEP20)0.560.28
Arweave (AR)Arweave0.10.03
Acala Token (ACA)Acala0.420.21

Due to the particular nature of Binance withdrawal fee structure, there are various tricks to use that can lower your overall charges. Read on to find out how to reduce Binance withdrawal fees.

What are Binance Withdrawal Fees with BNB?

For Binance’s native coin, BNB, holders get a subsidiary which helps in increasing demand for their token. Below you can find a table with segregated fees for BNB and non-BNB holders with different charges based on transaction volume:

Transaction TypeBNB HolderNon-BNB Holder
Maker0.3% ($10K) to 0.00% (+$500M)0.4% ($10K) to 0.00% (+$500M)
Taker0.45% ($10K) to 0.0375% (+$500M)0.6% ($10K) to 0.05% (+$500M)

Binance Trading Fees: Explained

Binance collects trading fees on the platform with a constant 0.1% charge and an additional 0.5% for Instant trades. The calculated trading fees also differ from time-to-time based on transaction type, payment method, volatility, liquidity, and the asset type as well. Below you can find charts with trading fees for various transaction types.

Spot and Margin Trading Fee

Instant trades and margin orders come with a charge ranging between 0.0120% and 0.1% based on your 30-d transaction volume:

Level30-day VolumeNon-BNB Holder (M/T)BNB-Holder (M/T)
Regular< 1,000,000 USD0.1000% / 0.1000%0.0750% / 0.0750%
VIP 1≥ 1,000,000 USD0.0900% / 0.1000%0.0675% / 0.0750%
VIP 2≥ 5,000,000 USD0.0800% / 0.1000%0.0600% / 0.0750%
VIP 3≥ 20,000,000 USD0.0420% / 0.0600%0.0315% / 0.0450%
VIP 4≥ 100,000,000 USD0.0420% / 0.0540%0.0315% / 0.0405%

USD-M Futures Trading Fee

Future trades for USD also differentiates Binance trading fee within the range of 0.01% and 0.05%

Level30-day VolumeNon-BNB Holder (M/T)BNB-Holder (M/T)
Regular< 15,000,000 USD0.0200% / 0.0500%0.0180% / 0.0450%
VIP 1≥ 15,000,000 USD0.0160% / 0.0400%0.0144% / 0.0360%
VIP 2≥ 50,000,000 USD0.0140% / 0.0350%0.0126% / 0.0315%
VIP 3≥ 100,000,000 USD0.0120% / 0.0320%0.0108% / 0.0288%
VIP 4≥ 600,000,000 USD0.0100% / 0.0300%0.0090% / 0.0270%

COIN-M Futures Trading Fee

Futures traders who trade before owning the cryptocurrency get no benefits with BNB tokens and need to pay a trading fee between 0.01% and 0.05% based VIP level:

Level30-day VolumeMaker (M)Taker (T)
Regular< 15,000,000 USD0.0200%0.0500%
VIP 1≥ 15,000,000 USD0.0160%0.0400%
VIP 2≥ 50,000,000 USD0.0140%0.0350%
VIP 3≥ 100,000,000 USD0.0120%0.0320%
VIP 4≥ 600,000,000 USD0.0100%0.0300%

Options Trading Fee

Traders using Options trading need to pay a trading fee between 0% and 0.03%:

Level30-day VolumeMaker (M)Taker (T)
Regular< 50,000,000 USDT0.0300%0.0300%
VIP 4≥ 50,000,000 USDT0.0040%0.0180%
VIP 5≥ 120,000,000 USDT0.0040%0.0180%
VIP 6≥ 250,000,000 USDT0.0040%0.0180%
VIP 7≥ 750,000,000 USDT0.0000%0.0160%

Swap Farming Trading Fee

Swap farming has a swap fee and effective fee ranging between 0.049% and 0.105% with the VIP in mind:

LevelSwap FeeEffective Fee
VIP 10.0700%0.0700%
VIP 20.0700%0.0700%
VIP 30.0700%0.0700%
VIP 40.0490%0.0490%

NFT Trading and Holding Fee

NFT holders and sellers on Binance have platform fee ranging between 0.7% and 0.9%

Level30-day Sell Volume30-day Total Volume30-day Holding VolumePlatform Fee
VIP 1≥ 10,000≥ 20,000≥ 100,0000.9%
VIP 2≥ 50,000≥ 100,000≥ 250,0000.8%
VIP 3≥ 100,000≥ 200,000≥ 500,0000.7%

Fiat Trading Fee

Fiat staking is free on Binance but trading on TRY pairs come with a fee ranging between 0.0315% and 0.15% considering the VIP level:

LevelNon-BNB Holder (M/T)BNB-Holder (M/T)
Regular0.1000% / 0.1500%0.0750% / 0.1125%
VIP 10.0900% / 0.1500%0.0675% / 0.1125%
VIP 20.0800% / 0.1000%0.0600% / 0.0750%
VIP 30.0420% / 0.0600%0.0315% / 0.0450%
VIP 40.0420% / 0.0540%0.0315% / 0.0405%

Apart from the above trade types, P2P transactions have a fee range between 0.0% and 0.2% varying on the fiat token and the related cryptocurrency. Check out Binance P2P Fee Rate for more details. 

What Are Binance Purchase Fees?

Binance has a standard 0.1% trading fee for spot, margin and other trade types. Additional purchase fee might be applicable based on your transaction volume and trade type. Check out Binance Trading Fee for further details.

What is Binance VIP?

Binance VIP is a program for advanced enthusiasts of cryptocurrency. Users can join in one of the four available Binance VIP programs:

  • Trader VIP
  • Holder VIP
  • Investor VIP
  • Borrower VIP

Joining one of these will unlock benefits in Spot and Futures trading, borrowing limits, API order frequency, and much more. Lower overall fees is a major part of the VIP program and your total transaction volume determines your Binance VIP Level. Binance updates VIP level and trading data during 0:00 AM (UTC), and your account will show the latest data based on transaction volume of the past thirty days.

How Do I Reduce Fees on Binance?

Users can reduce their fees on Binance via following methods:

  • Hold BNB for 25% discount on trading fees
  • Refer Binance to friends for 20% additional discount
  • Increase trading volume to join VIP tier
  • Join Binance’s promotional programs for further discounts

Binance Fees vs. Coinbase: Are Binance Fees Cheaper Than Coinbase?

Binance is cheaper than Coinbase as Binance provides free wire transfers and token conversion. Furthermore, trading fees vary between 0.1% and 0.2% with additional benefits for BNB holders. On the contrary, Coinbase charges $10 for wire transfer and 1% transaction fee as well. Check out the table below to get a better understanding:

Binance25% discount for native token holders
Free Token Conversion
0.10% Trading fees
20% to 35% staking fees
Free wire transfer
Coinbase1% charge on all transaction
0% to 0.60% Trading fees
25% to 35% staking fees
$10 charge on wire transfer

Does Binance Charge Fees for Staking?

Binance Staking is free for all users but a service charge running between 20% to 35% is applicable. For ADA, DOT, ATOM, XTZ, and SOL tokens, 30% commission is charged with 20% for ETH. Other tokens have a service charge of 35% but none of it is used from your cryptocurrency wallet, rather deducted from your staking rewards.

Does Binance Charge Fees for Listing?

Binance has no official fee for listing of a crypto token on the primary exchange or even Launchpool. However, the CEO of Binance, CZ talked about listing in a blog and suggested organizations to “show willingness to contribute to social impact.”

The estimated fees are declared to the token issuers once the cryptocurrency has passed the Binance Cryptocurrency Reviews.

Does Binance Charge Fees to Convert?

Binance has no conversion fees and you can easily convert cryptocurrencies on the platform.

Frequently Asked Questions (FAQ)

What are Binance Fee tiers?

Binance Fee tiers are the VIP program levels available for experienced traders. The total transaction volume of the past 30 days is considered to create this tier and fees are calculated on its basis.

How can I Withdraw USD from Binance?

You can no longer withdraw USD from Binance as SEC regulations forced the crypto exchange platform to operate largely throughout Europe. US-based users need to convert their earnings into cryptocurrency before cashing out.

Why are Binance Fees High?

Binance Fees are not much high since compared to other trustworthy exchanges, it is a strong competitor providing fair rates with high security. Check our comparison above between Binance and Coinbase where Binance is the cheaper option.

How Much Does Binance Charge for Bank Transfers?

Bank transfers for deposits on Binance comes with no additional cost. However, while making a withdrawal, charges will be included based on transaction volume, token network, region and more. Check out Binance Withdrawal Fee chart for more.

Is there a Fee for the Binance Card?

Binance Card has no first-time issuance fee but reissuance comes with a charge of 25 EUR. Any transaction or ATM withdrawal within Europe is free of cost, but for foreign countries have a 2% standard fee on all transactions and ATM withdrawals.

Can You Cash Out of Binance in the U.S?

No, due to regulatory issues, users from the U.S can no longer cash out or even make deposits with the U.S. dollar, you would need to convert the funds beforehand. Users outside of the U.S can cash out their earnings without any hassle.

About Aritra

Aritra is an experienced cryptocurrency analyst with a deep understanding of market shifts. His proficiency in identifying investment opportunities has helped him build a strong sense of the Web3 world. Aritra is a trader turned writer and presently predominates in the crypto writing industry as he can guide new investors as well. When he is not decoding crypto jargon, he can be found streaming on Twitch.

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