Binance Withdrawal Fees

Binance Withdrawal Fees

Binance Withdrawal Fees is something you should know about. If you interested in using one of the most trusted and largest cryptocurrency exchange in the world.

Binance Exchange

Binance is the exchange which helps you to trade in various digital currencies. It is one of the most
used and trusted exchange in the world.

Binance provides you a robust set of trading tools which can be used for safe trading of cryptocurrencies. For helping you doing this it charges some percent of the transaction to the user. The only problem that faced by the user while using the Binance is – The buying and selling of the cryptocurrency on the Binance can be done by using the digital currencies, not by fiat currencies.

Binance Withdrawal Fees

Binance is a user-friendly exchange which can be easily used by the beginners also. Creating an account on the Binance and depositing the currency is free of cost. It means that you do not have to pay the money or transition fee for it. But you have to pay for the withdrawal of the cryptocurrency and that can vary depending upon the currency.

Binance usually charges 0.1% fee on every trade done by you. It also provides you its own token – BNB. These tokens can be used to pay any kind of fees on the exchange. Using the BNB tokens is beneficial for the user.

As Binance give back the 50% discount on the transactions fees if you use the tokens. In the second year, you will get 12.5% and so on. From the fifth year, you will not be getting any discount on the transaction fee.

The BNB token is tradable on the exchange so its value can fluctuate. By considering the discount and percent of the trade fee, it is quite low in comparison to other exchanges.

Security In Binance

Security is one of the important aspects for any customer who is trying his or her luck in the digital currency market. Binance exchange is famous for the security it provides to the users.

Binance uses the two-factor authentication and Google authenticator to verify the security modifications and withdrawals. It is a necessary step for the verification of your account. But the problem is that only Chinese phone numbers are authenticated by using this technique.

Binance collects the information of the user and to verify the authentication. So if you are not interested in sharing your information with the Binance. You should check out the “privacy” policy provided by it. Even if you are sharing your personal information with Binance you should not get afraid of it. As there is no complain has been registered against the Binance.

Conclusion

From the above article, you can conclude that the Binance Withdrawal Fees is quite less in comparison to the other exchanges. As they might charge you up to 0.18% fee for every transaction done by you.

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