Crypto

Binance updates commission rates after first year

Binance, one of the world's largest crypto money markets, left its first year behind. The platform announced a new loyalty program for its users on it. According to the announcement, BNB's transaction fee discount will be reduced by half.

Binance has been offering a 50% discount on transaction fees for users with BNB in ​​its bond since it was introduced to the market last year. According to Binance's technical documentation, the discounts on the transaction fee will be offered for four years, but will be cut every year.

With a gradual commission system, there is a discount to those with a higher volume

However, Binance has a gradual wage the system also brought. The transaction fees that users will pay from August 21 will depend on the amount of BNB tokens and volume of the previous round. According to the table, users with the highest volume will pay commissions of 0.02 percent for a market maker order and 0.04 percent for a market buyer order.

Commission fees for users with the lowest transaction volume start at 0.10 percent.