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Are there any hidden fees on Binance ?
If you use Binance to buy, sell, or trade cryptocurrencies, you've probably wondered if Binance has any hidden fees . The short answer is no; Binance is transparent about its fees and is even among the most competitive on the market. However, some costs can be misunderstood or appear in specific situations.
In this article, we'll take an in-depth look at all the fees charged by Binance , identify those that are sometimes viewed negatively, and provide strategies to minimize your costs . Whether you're a beginner or an experienced trader, understanding these details can help you avoid unpleasant surprises.
Table of Contents
Trading fees displayed on Binance vary depending on VIP level
Binance uses a tiered pricing structure based on your 30-day trading volume and BNB . The more you trade, the lower your fees. Here is a table detailing spot trading fees according to your VIP level:
| Level | 30-day trading volume (USD) | BNB balance | Maker/Taker Fees | Maker/Taker Fees (with BNB) |
|---|---|---|---|---|
| Standard user | < 1,000,000 USD | ≥ 0 BNB | 0,1000% / 0,1000% | 0,0750% / 0,0750% |
| VIP 1 | ≥ 1,000,000 USD | ≥ 25 BNB | 0,0900% / 0,1000% | 0,0675% / 0,0750% |
| VIP 2 | ≥ 5,000,000 USD | ≥ 100 BNB | 0,0800% / 0,1000% | 0,0600% / 0,0750% |
| VIP 3 | ≥ 20,000,000 USD | ≥ 250 BNB | 0,0400% / 0,0600% | 0,0300% / 0,0450% |
| VIP 4 | ≥ 75,000,000 USD | ≥ 500 BNB | 0,0400% / 0,0520% | 0,0300% / 0,0390% |
| VIP 5 | ≥ 150,000,000 USD | ≥ 1,000 BNB | 0,0250% / 0,0310% | 0,01875% / 0,02350% |
| VIP 6 | ≥ 400,000,000 USD | ≥ 1,750 BNB | 0,0200% / 0,0290% | 0,0150% / 0,02175% |
| VIP 7 | ≥ 800,000,000 USD | ≥ 3,000 BNB | 0,0190% / 0,0280% | 0,01425% / 0,0210% |
| VIP 8 | ≥ 2,000,000,000 USD | ≥ 4,500 BNB | 0,0160% / 0,0250% | 0,0120% / 0,01875% |
| VIP 9 | ≥ 4,000,000,000 USD | ≥ 5,500 BNB | 0,0110% / 0,0230% | 0,008250% / 0,017250% |
➡ Explanation of fees:
- Maker fees : when you place a limit order that adds liquidity to the order book.
- Taker fee : when you place a market order that withdraws liquidity immediately.
- Discount with BNB : By paying your trading fees with the BNB , you benefit from a discount of up to 25% on standard fees.
How to reduce Binance fees by paying them in BNB ?
- Go to Settings:
- Scroll down to the trader and fee deduction tab:
- Make sure you have BNB in the account and activate the option:
Are spreads hidden fees on Binance ? Do they really exist?
Binance is an order book-based exchange , you interact directly with other traders without Binance in price setting. In theory, this means you buy and sell at the prices available in the order book, which largely eliminates the spread imposed by an exchange .
However, a spread can exist in certain situations :
- Low liquidity : On less popular currency pairs (for example, an exotic LTC coin against ltc USDT , the spread between buy and sell orders can be significant. Therefore, you will pay more than expected when executing a market order.
- Extreme volatility : During periods of high volatility, displayed prices may change rapidly, temporarily increasing the spread perceived when executing an order.
- Instant conversions : If you use the "Convert" option instead of the spot market, Binance applies an internal rate which may include an implied spread.
➡ How to avoid high spreads on Binance ?
✔ Always check the order book before placing an order.
✔ Favor pairs with high liquidity such as BTC / USDT , ETH/ USDT , or BNB / USDT .
✔ Place limit orders rather than market orders to control your execution price.
By understanding these aspects, you can optimize your trading fees on Binance and avoid any "nasty surprises".
Deposits and withdrawals: fees vary depending on the method used
Crypto deposits on Binance Binance free , but euro deposits via certain payment methods incur fees.
| Deposit method | Costs |
|---|---|
| SEPA transfer | 1 € |
| Credit card (Visa, Mastercard) | 1,8 % |
| Crypto deposit | Free |
👉 The catch? Many users think that depositing euros on Binance is free. This isn't the case, even though SEPA transfer fees are almost non-existent.
Withdrawal fees: a surprise for some users
Withdrawal fees vary depending on the cryptocurrency and the state of the blockchain network. In other words, when you withdraw cryptocurrencies from Binance to another wallet, Binance adjusts the fees based on network congestion at the time of the withdrawal.
| Crypto | Average withdrawal fees |
|---|---|
| Bitcoin (BTC) | 0.00003 BTC |
| Ethereum (ETH) | 0.0008 ETH |
| USDT (ERC-20) | 3 USDT |
| BNB (BSC) | 0.00015 BNB |
💡 Tip: If possible, favour blockchain networks with reduced fees, such as Binance Smart Chain (BSC), Solana or Base instead of Ethereum .
Binance conversion fees: a cost that can be interpreted as hidden fees
If you use Binance Convert to exchange one crypto for another , no direct trading fees are applied; the displayed transaction fees are usually 0. However, there is a spread , which varies depending on market liquidity.
Example :
- You trade Flow for Axelar
- Your conversion clearly shows that the transaction fee is 0 AXL
- There is, however, a difference between the initial euro equivalent and the final euro equivalent. This is due to the spread, which depends on market liquidity. These fees are relatively small, but they can become significant if you trade regularly.
The Binance card: fees sometimes overlooked
The Binance Visa card allows you to pay with crypto worldwide. Binance does not charge any transaction fees , but there are three potential costs that users often underestimate:
- Automatic conversions : When you pay in BTC , Binance converts it to euros, with a spread.
- ATM withdrawal fees : 0.1 to 0.9% of the amount withdrawn.
- Third-party fees : Some banking institutions apply additional costs.
💡 Tip: Always check the conversion rate before making a payment with your Binancecard.
How to minimize these "hidden fees" on Binance ?
The best strategies to reduce your costs:
✔ Use a SEPA transfer instead of a bank card to deposit euros.
✔ Use BNB to pay your trading fees and benefit from a 25% discount.
✔ Favor limit orders on the order book to avoid the spread of "market" orders.
✔ Select the right network for your crypto withdrawals (e.g., BSC rather than ERC-20).
✔ Trade on the pairs in the Spot order book rather than on Binance Convert
Conclusion: Does Binance really have hidden fees?
Binance doesn't have "hidden fees" per se , as its fee schedule is displayed on its website and the main costs (trading fees, withdrawals, deposits) are clearly indicated. However, some fees may be less obvious to inexperienced users: spreads on instant conversions, variations in withdrawal fees depending on network congestion, or indirect costs related to using the Binance . Binance remains a platform with some of the lowest fees on the market. To compare everything, we invite you to consult our article comparing the cryptocurrency exchanges fees between Binance and Coinbase .
However, if you place market orders on the order book of highly liquid currency pairs, the spread will be almost nonexistent or even zero. It will be completely zero if you place limit orders.
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Yoann
Trained as an engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future, I am participating in its democratization by developing Crypternon.