{"id":4510,"date":"2022-05-06T09:00:11","date_gmt":"2022-05-06T02:00:11","guid":{"rendered":"https:\/\/test.wikibinance.com\/?p=1458"},"modified":"2022-12-17T11:21:14","modified_gmt":"2022-12-17T04:21:14","slug":"binance-transaction-fee","status":"publish","type":"post","link":"https:\/\/wikibinance.com\/en\/basic-binance\/binance-transaction-fee.html","title":{"rendered":"Why Binance has the most competitive transaction fee"},"content":{"rendered":"

Each exchange has a different way of charging transaction fee. For example, Binance<\/a> has applied a more user-focused approach. On the other hand, each user also has access to different transaction fee. It is very important for those who indulges in day trading. But many users just want a transparent trading experience with no fee incurred.<\/span><\/p>\n

It is essential to have good knowledge of these fees to start your investment journey. Here’s the view of Changpeng Zhao, the founder of Binance<\/a>, on transaction fee, how they affect trading, and what exchanges can do to improve the user experience.<\/span><\/p>\n

Changpeng Zhao’s view on transaction fee<\/h2>\n

First of all, the user should be traded at practical cost. High fees cause many obstacles and make it difficult to trading. If a trader wants to buy Bitcoins<\/a> and exchange them for other asset classes, the barrier to crypto adoption should be minimal.<\/span><\/p>\n

Changpeng Zhao admits he’s not a lively trader, preferring to buy and keep them. However, like many other traditional markets, the cryptocurrency world is a popular investment and trading channel. Traders should not worry about transaction fee that eats up their profits.<\/span> To To deliver the most user-focused experience, Binance offer the most competitive transaction fee<\/a> in the crypto industry. With spot trading, Binance only charges 0.1% of the total transaction value. BNB holders also get a 25% discount.<\/span><\/p>\n

\"Binance's
Binance’s transaction fee compared to other exchanges<\/figcaption><\/figure>\n

What is spread and how does it affect trading?<\/h2>\n

It is essential<\/span> to differentiate between spread and trading fees.<\/span><\/p>\n