Exchange fees are one of the biggest issues in all of the crypto space right now. And this video will tell you the best ways to trade crypto with the lowest even ZERO fees.
I have been working on all the research for a while, and it really required me to read through so many Terms and conditions to figure out the 4 CHEAPEST ways to trade crypto. We will show you how to go from fiat to crypto on Binance for NO FEES.
Many of us don’t realize how much trading fees can eat into our returns. Many exchanges charge between 0.5% and 1% per trade. This includes Coinbase and Kraken. The good news is trading fees are coming down thanks to more DeFi protocols and centralized exchanges lowering theirs to compete. Binance at 0.1% is already one of the lowest trading fees and many others charge below 0.3%. But we can do better.
1) Use BNB
So tip #1 is to use BNB to pay for your trading fees. You can set this as your default with ease in your Spot Wallet once you have some BNB in your account. We already think BNB is the best exchange token to own due to Binance’s strength and its burn program.
But if you have some in your account, then you save 25% on your trading fees if you pay with BNB. Check out this example:
- If you have a $10,000 trade:
- @ 0.1% fee, you pay $10.
- Save 25% w BNB, you pay $7.50.
- Your Savings = $2.50
Good deal for holding a quality token.
— Binance (@binance) June 30, 2022
2) Use Binance Gift Cards
With Binance Gift Cards you can buy or send crypto to anyone for FREE. This includes if you wanted to send it to someone in exchange for your local currency. But we have an even better tip on how to do that coming up.
The even bigger secret is Binance Code. Here you get a prepaid voucher that you can send to anyone even outside of Binance. It’s API supported and great for small businesses that want to use crypto to pay for items or to increase adoption by offering a loyalty program. And again, all FREE. No fees to move your crypto in this way. More info is in this article.
Explore our new #Binance Gift Card Marketplace, which introduces 3 new features:
🔸 Fixed-Denomination Gift Cards
🔸 Cashback Gift Cards
🔸 Blindbox Gift Cards
— Binance (@binance) September 26, 2022
3) Zero-Fee Crypto Trading Pairs
Did you know for the next few weeks Binance is offering lots of popular zero-fee trading pairs? It’s only for a limited time. Thirteen different Bitcoin Spot Trading pairs including the 2 most popular BTC-USDT and BTC-BUSD are now trading for FREE. ETH-BUSD pair too.
The other pairs are Bitcoin and certain fiats like:
- BRL (Brazil)
- RUB (Russian Ruble), among others.
— Binance (@binance) July 6, 2022
Now, we don’t think you need any extra incentive to want to buy Bitcoin but now you can buy it for free. You could just HODL it OR You can then use that Bitcoin to exchange anywhere else for low fees for the crypto you want. Don’t overlook these zero-fee pairs.
4) Binance P2P Trading
And now our last tip for the day and our favorite for converting fiat to crypto on Binance for FREE. P2P Trading. As services on Binance go, P2P Trading is one of the unsung heroes and one of the reasons why Binance is #1 all over the world.
Many emerging markets can’t send their Naira or Pesos to the exchange so the way they use Binance is P2P. It works great and is a smooth process. You can:
- Link your bank account in fiat currency.
- Send to another account holder at the same bank or a different bank within your country.
- Binance releases the crypto to you once you show proof of payment.
Learn about some of the other benefits of trading on Binance P2P in this blog.https://t.co/4UUd7RtozC
— Binance (@binance) August 18, 2022
It’s a terrific and fast way to use your fiat to buy crypto. And best of all, it’s FREE. Every little bit helps and no reason to pay hefty trading fees if you don’t have to.
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The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Binance. Copyright Altcoin Buzz Pte Ltd.