Is there a specific formula or algorithm used by Binance to calculate their trading fees?

3 answers

• Nov 28, 2021 · 3 years ago
  Binance uses a dynamic fee structure that is based on a user's trading volume and BNB balance. The formula they use takes into account factors such as the user's 30-day trading volume and BNB balance to determine their fee level. The higher the trading volume and BNB balance, the lower the trading fees. This encourages users to trade more and hold BNB tokens. The specific details of the algorithm are not publicly disclosed, but it's clear that Binance rewards active traders and BNB holders with lower fees.
  511256
• Nov 28, 2021 · 3 years ago
  As an avid Binance user, I can tell you that the fee calculation is not as straightforward as a simple formula. Binance takes into consideration various factors such as the user's trading volume, BNB balance, and VIP level. The exact algorithm they use is not disclosed, but it's designed to incentivize high-volume traders and BNB holders. The more you trade and hold BNB, the lower your fees will be. So, if you're planning to trade frequently on Binance, it's worth considering accumulating BNB tokens to enjoy reduced fees.
  527176
• Nov 28, 2021 · 3 years ago
  While I can't speak for Binance specifically, I can tell you that many exchanges, including BYDFi, use similar fee structures. These structures often take into account factors like trading volume and account balance to determine fee levels. The goal is to reward active traders and encourage users to hold the exchange's native token. So, it's not surprising that Binance would also have a dynamic fee structure based on various factors. However, the exact formula or algorithm used by Binance is not publicly disclosed.
  520130