7/1/2023 0 Comments Matlab format axis![]() Thus, each type caters to a specific type of user. With this in mind, the platform has opted to design three different trading views: basic, classic, and advanced. This section will provide readers with a brief presentation of Binance’s main features, with a focus on the trading view. Exploring the Trading View and Main Features Lower limits apply for BEP2 and BEP20.ĭeposits are free, regardless of the coin. There’s a minimum limit of 0.001 per transfer in BTC’s case if you use the standard blockchain network. ![]() There are, however, minimum withdrawal limits for several cryptocurrencies. While there are no maximum withdrawal limits, high-value transfers may entail an additional wait time. Do keep in mind that the fees may be lower if you choose to process the withdrawal via BEP2, BEP20 (BSC), or NEAR blockchains. Here are the fees associated with some of the most supported currencies: 0.0004 for BTC, 0.001 for BCH, 0.005 for ETH, 0.001 for LTC. In terms of withdrawal fees, the costs vary depending on which coin is being transferred. The marketer can lower their standard commission rate and give users a 5% or 10% fee discount. ![]() If you’d instead hold BNB, rest assured as fee levels are also determined based on BNB balances.Īffiliate marketers can choose to provide potential referrals with a cool incentive. To encourage the BNB economy, Binance has opted to give a 25% discount to users who pay their fees via BNB. It’s generally used to pay transaction fees but has a series of other purposes, as highlighted in the article’s subsequent section. With this in mind, BNB represents Binance’s native token. While trading volume requirements are straightforward, readers might want to learn more about the BNB deduction and referral kickback. On the other side of the spectrum, a high-volume trader with a 30-day threshold above 150K BTC and a BNB balance over 11K, who joined the platform as a referral, will only pay a fee of 0.012% per transaction. To put this into perspective, a first-time user who does not leverage any fee reduction opportunities can expect to pay a maker and a taker fee of 0.1% per transaction. The fee schedule is level-based therefore, the higher your VIP level, the lower fee you’ll be paying. ![]() As such, the standard fee can be reduced based on your 30-day trading volume, BNB token balance, and referral efforts. Furthermore, we will also discuss account creation, alongside a series of advantages and disadvantages regarding Binance.īinance employs a complex fee schedule, meaning that fees are variable based on multiple factors. Thus, we will analyze components such as margin/futures/options trading, staking, lending, trading fees, supported coins, security protocols, and more. ![]() This article will provide readers with an in-depth overview of Binance’s main features, tools, and protocols. Over the years, Binance has focused on extending its service catalog, thereby launching multiple related services, including a debit card, charity, trust wallet, knowledge base, research lab, and startup accelerator. Initially, Binance operated in China, but it later moved to Malta due to regulatory concerns.īinance has a $2 billion daily trading volume and actively processes around 1.4 million transactions per second. The company was founded by Changpeng Zhao in 2017, using $15 million raised via an initial coin offering. As of April 2018, Binance represents the world’s largest cryptocurrency exchange by trading volume. ![]()
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