Binance Lowers Discount Rate For Traders Who Use BNB To Pay Their Trading FeesIn accordance with their Whitepaper, the Binance Exchange has lowered the trading discount traders receive for using BNB to pay for their trading fees. Every year, Binance will lower the fee discount for traders paying with BNB. With July 2018 being the start of year 2 for the Binance Exchange, traders who pay their fees with BNB will receive a 25% discount in fees from now until July 2019 in which the fee discount will decrease again to 13.5% eventually reaching no discount in year 5 of the Exchange's time in operation.
|Tier||BNB Balance||Past 30-Day Trading Volume||Maker||Taker|
|VIP 1||50 BNB||≥100 BTC||0.090%||0.100%|
|VIP 2||200 BNB||≥500 BTC||0.080%||0.100%|
|VIP 3||1,000 BNB||≥4,500 BTC||0.070%||0.090%|
|VIP 4||2,000 BNB||≥10,000 BTC||0.060%||0.080%|
|VIP 5||3,500 BNB||≥20,000 BTC||0.050%||0.070%|
|VIP 6||6,000 BNB||≥40,000 BTC||0.040%||0.060%|
|VIP 7||9,000 BNB||≥80,000 BTC||0.030%||0.050%|
|VIP 8||11,000 BNB||≥150,000 BTC||0.020%||0.040%|
Trading Discount Program Rules:
- At 00:00 AM (UTC) every day, Binance will evaluate your total trading volume over the past 30-day period and your current BNB balance. If you meet both conditions required to be eligible for a specific Tier, your Tier level and corresponding Maker/Taker fees will be updated one hour later at 01:00 AM (UTC) each day.
For example: If you are currently in the General Tier and your trading volume in the past 30-day period was 500 BTC (VIP 2) and you have a balance of 50 BNB (VIP 1), then you will be upgraded to the VIP 1 Tier (Maker 0.09% / Taker 0.10%).
- The above trading fee discounts for each Tier are in effect for 24 hours from 01:00 AM (UTC).
- This trading fee program is independent of other existing programs. You are still able to benefit from other programs, such as the 25% fee discount when paying with BNB.
Taker: When you place an order that is immediately filled in its entirety (for example a market order) you are a “taker,” and you pay a “taker” fee for this. The idea is that you are “taking” the price you want, right now, generally by buying or selling limit orders sitting on the books.
Maker: When you place an order that doesn’t fill immediately (for example a limit order far from market price), you are a “maker,” and you can expect to pay a reduced “maker” fee for this. As noted above, this terminology comes from the fact that placing limit orders on order book helps to “make the market,” (it makes you a “market maker”).