Binance is one of the most popular cryptocurrency exchanges in the world, with the highest trading volume among both spot and derivatives (futures) markets.
Based on the last 24-hour data, Binance's spot trading volume was approximately five times higher and its futures trading volume more than three times higher than the second-largest exchange. As often emphasized, trading volume reflects market stability.
The lower the trading volume on an exchange, the higher the risk of slippage. For major coins like Bitcoin, this may not be a big concern, but with altcoins that have low liquidity, trades can be executed at significantly worse prices than expected.
This is particularly important for those using leverage in futures trading, as even small price differences can result in large losses. To reduce such risks, it is advisable to use an exchange with high liquidity, such as Binance.
What about Binance’s fee structure? Binance offers relatively low trading fees, which differ depending on whether the user is a maker or a taker.
A maker adds liquidity by placing limit orders, while a taker executes market orders by matching existing bids or asks. The fees for spot and futures trades are shown below.
Category Spot Futures
Maker 0.010% 0.020%
Taker 0.010% 0.050%
Maker using BNB 0.075% 0.018%
Taker using BNB 0.075% 0.045%
Spot trading fees can be discounted by up to 25%, and futures by up to 10%. To receive the discount when using BNB for futures trading, make sure to transfer BNB to your futures wallet first.
There are three ways to receive a fee discount:
The first method is to increase your VIP level. For example, in futures trading, if you reach VIP level 1, you receive an additional 20% fee discount.
To qualify for VIP level 1, you must have traded more than 15 million dollars over the past 30 days. This is a significant amount, but it may be achievable for frequent short-term traders.
The second method is using BNB. If you hold at least 50 BNB, you are eligible for a fee discount. You can enable the discount in the “Using BNB” section in the dashboard or app settings.
To receive the discount for futures trading, make sure you have opened a futures account first. The final method is using a referral code.
Binance Fee Discount 20 Percent Referral Link
You can either sign up through the link or enter the code WOZFXLOX manually.
You can easily register via SNS, and the referral code will be applied automatically.
Once registration is complete, you can receive an additional discount of up to 20% on spot trading fees.
Even existing users can receive a 20% fee discount if the following five conditions are met:
Already registered on Binance
The invitee has never accepted an invitation before
The invitee has not traded or used any products on Binance in the past 180 days
A confirmation prompt appears when the eligible invitee opens the referral link and logs in
Clicking [Bind Now] activates the referral link