Cryptocurrency trading, similar to stock trading, is done through cryptocurrency exchanges. 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 in order to create profit-maximizing strategies.
Fees for cryptocurrency trading can vary significantly depending on the exchange used. Some exchanges 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% on most trades, with discounts available for users who hold the exchange’s native token (BNB) or who trade large volumes. BingX, on the other hand, has a maker fee and taker fee as low as 0.075% on 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 it is advisable to check the current fee schedule for the exchange being considered. It is also a good idea to compare fees across different exchanges to find the most competitive rates.