Cryptocurrency trading operates on exchanges, similar to trading on a stock exchange, but limited to cryptocurrencies. Many exchanges use a tiered fee structure based on a percentage of the user's 30-day trading volume. It is important to understand the fees associated with trading cryptocurrency to create profit-maximizing strategies.
Exchange fees for cryptocurrency can vary significantly between exchanges. Some charge a flat fee for all trades, while others charge a percentage of the trade amount. Some exchanges also offer discounts for users who hold certain memberships or trade large volumes.
Binance charges a maker fee of 0.1% and a taker fee of 0.1% for most trades, with discounts available for users who hold the exchange's native token (BNB) or trade large volumes. BingX charges a maker fee of 0.075% and a taker fee of 0.075% for most trades.
Please see the table below for a quick overview:
Exchange/ Fees
Binance
BingX
Maker Fee
0.1%
0.075%
Taker Fee
0.1%
0.075%
It is important to note that these fees are subject to change and to check the current fee schedule for the exchange you are considering using. It is also a good idea to compare fees across exchanges to find the one with the most competitive rates.
