Binance is the world’s largest cryptocurrency exchange, founded in 2017 by Changpeng Zhao.
They were based in China, but now they have their headquarters in Malta due to the Chinese government’s restrictions.
The platform performs over 1,400,000 transactions per second and has a daily volume of over two billion.
In this article, we will discuss the fees of Binance and Binance US.
Binance Deposit and Withdrawal Fees
Deposits in Binance are entirely free.
The withdrawal fee and minimum withdrawal is determined upon the blockchain network. Hence, they are not fixed and depend upon network congestion.
For example, To withdraw Bitcoin, you can use any one of the following networks. Each network has a different minimum withdrawal and withdrawal fee.
| Network | Minimum Withdrawal | Withdrawal Fee |
|---|---|---|
| BEP2 | 0.0000092 | 0.0000046 |
| BEP20 (BSC) | 0.0000074 | 0.0000037 |
| BTC | 0.001 | 0.0005 |
| ERC20 | 0.00062 | 0.00031 |
| BTC(SegWit) | 0.001 | 0.0005 |
You can check the complete list here.
Binance Trading Fees
Binance follows a maker-taker model. The fee is divided into eleven levels according to the trading volume over thirty days and BNB Balance. Therefore your trading fee will be decided by your VIP Level.
Every day at 0:00 am UTC, your trading volume (BTC) over thirty days, and BNB Balance is updated. The tier level and maker-taker is fees is updated at around 2:00 UTC
If you have BNB in your account, then by default, trading fees will be deducted from your BNB balance, getting you a 25% discount on your trading fee. Additionally, you will get a 20% discount on referring to your friends.
Binance Margin Borrow Interest rate
The margin borrows interest rate depends on the VIP level you are. Each cryptocurrency has a different interest rate.
You can check the entire list here.
Binance USDⓈ-M Futures Trading Rate
The USDⓈ-M Futures Trading Rates offers trading perpetually and quarterly with leverage up to 125x. Additionally, you will get a 10% discount on using BNB.
Binance Coin-M Futures Trading Rate
Coin-M Futures allow you to trade perpetually and quarterly with leverage up to 125x. The trading rates for Coin-M futures are mentioned below.
Binance Cross Collateral Interest Rate
Binance supports four collateral coins BTC, ETH, EUR, and BUSD. The daily interest rate, grace period, and borrow limit differs according to the VIP levels and borrow a coin.
The cross collateral interest rates for BTC when borrow coin is BUSD is mentioned below. You can check the rates for the remaining three here.
Binance US Deposit and Withdrawal Fees
Deposits in Binance US are also entirely free.
The withdrawal limit depends upon the level of verification you have completed.
| Verification | Withdrawal Limit |
|---|---|
| Basic ( Identity and Address Information) | 5000 USD every day |
| Advanced (Proof of Address, Government ID) | 1,000,000 USD every day |
| Complete Fiat Account (Brief Prime Time Questionnaire) | 5,000 USD with ACH or 1,000,000 USD with wire each time |
For USD, the fee depends upon the method you choose to complete your payment.
| Method | Minimum Withdrawal (USD) | Deposit Fee (USD) | Withdrawal Fee (USD) |
|---|---|---|---|
| ACH | 1 | 0.0 | 0 |
| Wire | 100 | 0.0 | 15 Domestic35 International |
| Debit Card | – | 4.5% | – |
The withdrawal fee and the withdrawal limit vary according to the cryptocurrency you choose. The table below shows the fee and limits of some of the popular cryptocurrencies.
| Cryptocurrency | Withdrawal Limit | Withdrawal Fee |
|---|---|---|
| Bitcoin (BTC) | 0.001 | 0.0005 |
| Ethereum (ETH) | 0.02 | 0.013 |
| Litecoin (LTC) | 0.002 | 0.001 |
| Neo (NEO) | 0 | 0 |
| TetherUS (USDT) | 28 | 14 |
| Ethereum Classic (ETC) | 0.02 | 0.01 |
| EOS | 0.2 | 0.1 |
| XRP | 0.2500001 | 0.25 |
| Matic | 74 | 37 |
You can check the complete list here.
Binance US Trading Fees
Binance US also follows a maker-taker model. The fee is divided into eleven levels according to the trading volume over thirty days and BNB Balance. Therefore your trading fee will be decided by your VIP Level.
Every day at 0:00 am EST, your trading volume (USD) over thirty days, and BNB Balance is updated. The tier level and maker-taker fees is updated at around 1:00 AM EST.
If you have BNB in your account, then trading fees will be deducted from your BNB balance by default. Additionally, you get a 25% discount on your trading fee if you pay using BNB.
By default, you are level VIP 0.
You can check the trade limit for all the cryptocurrency pairs here.
Binance Fees: Conclusion
Binance offers competitive rates. The pricing structure for different types of transactions is divided into levels according to your thirty-day trading volume and BNB balance. Additionally, they offer discounts if you use BNB.
