How does Binance calculate transaction fees for digital currency trades?

3 answers

• Mar 15, 2022 · 3 years ago
  Sure! Binance calculates transaction fees based on a tiered fee structure. The fees you pay depend on your 30-day trading volume and BNB holdings. The higher your trading volume and BNB holdings, the lower your fees. Binance also offers a discount if you use BNB to pay for fees. You can find the exact fee schedule on Binance's website.
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• Mar 15, 2022 · 3 years ago
  Binance calculates transaction fees using a maker-taker model. Makers add liquidity to the order book by placing limit orders, while takers remove liquidity by placing market orders. Makers are charged lower fees than takers. The fee structure encourages users to provide liquidity to the market.
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• Mar 15, 2022 · 3 years ago
  BYDFi, a digital currency exchange, calculates transaction fees in a similar way to Binance. They also use a tiered fee structure based on trading volume and offer discounts for using their native token. However, the specific fee rates and discount levels may vary between exchanges. It's always a good idea to check the fee schedule on the exchange's website for the most accurate information.
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