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TagsHow do BNB fees work on Binance?
Hire Next.js Developers in indJan 12, 2022 · 3 years ago1 answersCan you explain how BNB fees work on Binance? I'm new to trading on Binance and I want to understand how the fees are calculated and how they can be reduced. Are there any benefits to using BNB to pay for fees?
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- BNB fees on Binance work differently compared to other cryptocurrencies. Binance has its own native token called BNB, which can be used to pay for trading fees. When you use BNB to pay for fees, you can get a discount. The discount starts at 25% in the first year and decreases over time. This means that if you hold BNB in your account and use it to pay for fees, you can save money on your trades. However, it's important to note that BNB fees only apply to trading fees and not to other fees such as withdrawal fees or deposit fees. So, if you're looking to reduce your trading fees on Binance, using BNB is definitely worth considering.Jan 12, 2022 · 3 years ago
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