QUESTION
What are the fees for purchasing cryptocurrency on Binance?
ANSWER
The fees for purchasing cryptocurrency on Binance vary depending on the method used for the transaction and the user's trading level based on their prior 30-day trading volume. Generally, for spot trading, the standard fee is 0.1% per trade, however, this can be reduced with higher trading volumes or by using Binance Coin (BNB) for transaction fees. For instant buy/sell transactions, there is a fee which can range from 0.02% to 0.1%. When purchasing crypto directly with a credit or debit card, Binance typically charges a fee of around 1.8% to 2% of the transaction value. Users should keep in mind that fees may vary due to promotion periods or changes in external service costs, so they should always review the latest fee schedule directly on the Binance website or platform before making any transactions.
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