Are there any strategies or tips for trading on Binance without incurring any fees?

8 answers

• Dec 19, 2021 · 3 years ago
  Sure! One strategy to avoid fees on Binance is to use the Binance Coin (BNB) for trading. By using BNB to pay for trading fees, you can enjoy a discount of up to 25%. This can significantly reduce your trading costs and increase your overall profitability. Just make sure you have enough BNB in your account to cover the fees.
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• Dec 19, 2021 · 3 years ago
  Absolutely! Another tip is to take advantage of Binance's referral program. By referring new users to Binance, you can earn a commission on their trading fees. This commission can be used to offset your own trading fees, effectively reducing your costs. So, spread the word and invite your friends to join Binance using your referral link.
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• Dec 19, 2021 · 3 years ago
  Definitely! One popular way to trade on Binance without incurring any fees is by using BYDFi. BYDFi is a decentralized exchange built on the Binance Smart Chain that offers fee-free trading. It allows you to trade directly from your wallet without the need to deposit funds on a centralized exchange. With BYDFi, you can enjoy fee-free trading while still having access to a wide range of cryptocurrencies.
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• Dec 19, 2021 · 3 years ago
  No problem! Another strategy to avoid fees on Binance is to take advantage of the maker-taker fee structure. If you place a limit order that is not immediately matched with an existing order, you become a maker and pay a lower fee. On the other hand, if you place a market order that is immediately matched with an existing order, you become a taker and pay a higher fee. By strategically placing limit orders, you can minimize your trading fees.
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• Dec 19, 2021 · 3 years ago
  Sure thing! One tip to avoid fees on Binance is to keep an eye on the Binance Launchpad. Binance Launchpad is a platform that helps new blockchain projects raise funds through token sales. By participating in these token sales, you can potentially earn tokens that can be traded on Binance without incurring any fees. Just make sure to do your research and invest wisely.
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• Dec 19, 2021 · 3 years ago
  Absolutely! Another strategy to minimize fees on Binance is to use the Binance OTC (Over-the-Counter) trading desk. The Binance OTC trading desk allows you to trade large amounts of cryptocurrencies directly with other traders, without going through the regular order book. This can help you avoid slippage and reduce your trading fees. So, if you're planning to make a large trade, consider using the Binance OTC trading desk.
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• Dec 19, 2021 · 3 years ago
  Definitely! One tip to reduce fees on Binance is to use the Binance Futures platform. Binance Futures is a derivatives trading platform that allows you to trade futures contracts with leverage. By trading futures contracts, you can potentially earn higher profits while paying lower fees compared to spot trading. However, keep in mind that trading futures involves higher risks, so make sure to educate yourself and use proper risk management strategies.
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• Dec 19, 2021 · 3 years ago
  No problem! Another strategy to avoid fees on Binance is to take advantage of Binance's periodic fee discounts and promotions. Binance often runs promotions where you can enjoy reduced trading fees for a limited time. Keep an eye on Binance's announcements and social media channels to stay updated on these promotions and take advantage of them to minimize your trading costs.
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