Binance offers eight levels of fee discounts (VIP 1-VIP 8) depending on your 30-day trading volume (as measured in bitcoin). The other way to reduce your Binance fees is to increase your trading volume.
The more you trade, the bigger your Binance fees discount. Also, Binance plans to phase this discount out over the next few years, with the discount dropping to 12.5%, then 6.75%, then zero. 
You can turn that setting off if you wish, so it’s a good idea to check periodically to make sure it’s still on. If you hold BNB, Binance uses that for your fee by default. You can reduce that by 25% (that is, to 0.075%) if you hold BNB on Binance. The base fee for trades on Binance is 0.1% for makers and takers.
Paying fees with BNB gives you a 25% fee discount. The amount of that percentage depends on two things – (1) whether you hold BNB token, and how much you hold and (2) the amount of your 30-day trading volume. As is the case with most centralized exchanges, Binance takes a percentage of each trade you make. But make sure you pay attention to the trading fees. Once you’ve deposited some crypto on Binance, you’re ready to trade. Trading fees – percentage of trade amount that you can reduce in two ways Then you can deposit your crypto on Binance for free. So you’ll first need to use an exchange like Coinbase or Kraken to swap your fiat for crypto. Binance offers trading pairs with BTC, ETH, and USDT, but not fiat. If you want to try out Binance and its 400+ trading pairs, you can maximize your returns by paying attention to Binance fees.īinance charges no fee to deposit any cryptoasset. Complies with the Australian Transaction Reports and Analysis Centre regulations in Australia.Binance consistently ranks as the world’s top crypto exchange by trading volume, and the exchange often makes headlines with its innovative moves. In 2022 Binance topped up the fund to a value of US$1 billion. The fund includes cryptocurrencies and so its value changes inline with the market. Binance has been operating an emergency insurance fund since 2018. Australians who want to trade with AUD on the spot market may need to consider another exchange.Ĭustomer service can be accessed through live chat and is quick to respond, although you will need to talk to a bot first. There's a number of innovative features like a launchpad for early-stage investing, a learn and earn hub, an NFT marketplace and even access to DeFi services.īinance currently only accepts AUD purchases using a credit or debit card. Investors can earn yield on their coins in a number of ways or take advantage of automated tools like recurring buys and a rebalancing bot. Traders have access to instant swaps, a fully featured spot market, P2P and margin trading. The platform offers over 350 cryptocurrencies and twice as many trading pairs.īinance pushes the limits of what a cryptocurrency exchange can offer. It has been operating a dedicated Australian service since 2020 and is registered with AUSTRAC. Our verdictīinance is the world's largest exchange by trade volume. You can still purchase cryptocurrency with AUD using a credit or debit card, Google or Apple Pay, or by transferring crypto from another exchange. May, 2023: Binance has halted AUD deposits using PayID and bank transfer. 
June, 2023: Binance and its founder Changpeng Zhao have been charged in the US by the SEC for breaching securities laws. Australians may still purchase crypto using credit/debit cards or through the P2P exchange. June, 2023: Binance no longer supports AUD trading pairs or AUD bank transfers. Best travel insurance in Australia July 2023.All international money transfer services.High interest savings accounts Australia.
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